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What Is the Right Time to Trade?

Discussion in 'Forex Discussions' started by Currency Expert, Apr 30, 2015.

  1. Currency Expert

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    “Trading success depends on your system, your relationship with yourself and your relationships with others. Your feelings drive all of these components. When I first started, I thought it was all about the system. How silly and naïve I was in those days.” – Mike Melissinos

    What do you think is the answer to the questions that makes the topic above? There’s no general answer, for it depends on your trading style and approaches. Let’s take some examples.

    A scalper looks for opportunity to enter the market in the short-term, and when the opportunity presents itself, the scalper enters the market immediately, taking advantage of short-term market movements. Some swing traders or positions traders have various entry criteria for opening and closing positions. Some enter immediately the entry criteria are met, while some would wait for the market to close or the following day before they enter.

    Some traders use pending orders to take advantage of certain price actions and once a pending order is filled, trading begins. Some speculators use fundamental events to enter the market as soon as the entry requirements are met and some use fundamental events to project long-term movements.

    As you can see, the right time to trade really depends on your trading style and approaches. Once you enter the market by whatever means or criteria you choose, just make sure that you stick to your trade management rules – plus entry and exit rules. Irrational emotions tempt speculators to go against their rules. While it is difficult to control one’s temper while driving on a busy road, some have learned to control their temper while driving. You can control your emotions while trading and therefore, avoid taking actions that you’ll later regret.

    This piece is ended with the quote below:

    “Trading success comes from developing for yourself a good, well thought-out trading plan. That’s a plan which is based on your personal needs, strengths, interests, and all of that.” - John Forman

    Source: www.tallinex.com
     
  2. vic84

    vic84 New Member

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    it depends on traders choice and a trade should trade in a time which he is comfortable with.
     
  3. somefxtrader

    somefxtrader New Member

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    The best time for trading in forex is when the market is volatile. Volatile market is the best time scalpers can easily meet their target but when the market is ranging it is even more risky for scalpers to trade especially when they have a very tight stop loss. I enjoy trading when the market is volatile am easily able to make a clear analysis. since my current account with Tickmil ECN doesn't have any restriction upon trading strategy used. during the rush hour market movement the spread even nearly zero supported by their numerous source of liquidity provider.
     
  4. sininfinity

    sininfinity Active Member

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    A trader should not limit himself within certain time limits. Opportunities can occur anytime so one should be ready for that. Otherwise lack of opportunity can make one impatient.
     
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