When is the Best Time to Trade Forex?

Filed under: Learn Forex Trading |


The issue that I want to tackle today for today’s forex-related article is: “when is the best time to trade the foreign exchange markets”? There are a number of factors that need to be considered when answering this question, and the answers will very much vary depending on person to person.


To begin with, the foreign exchange market is a twenty-four hour market from 10 pm (UK time and changes to 11 pm in winter) on Sunday night, until 10 pm on Friday night (with the market being closed outside of these hours of operation). This gives us, as traders, a great deal of flexibility.


One thing to consider is that the daily charts are the most reliable charts, and as such, it is best, if you can, to check your charts at the close of the daily candles, which happens to be 10pm every night in the UK. However, if this is your bedtime due to work commitments and you are usually very tired at this time, then it is probably better to come up with a plan B.


For example, you might be at your most alert after your main meal in the evening, or perhaps first thing in the morning before you go to work if you are a morning person. If this is the case, then perhaps you could trade off of the 1-hour or 4-hour charts. If you check your charts at 6pm, (or 6am!) a new candle will be forming on both the 1-hour and 4-hour charts; and you might catch some price action setups.


The really great thing about the forex market is thus the flexibility that it gives us as traders. You really can work your schedule around it and find ample trading opportunities. So in answer to our question, the best time to trade is the time that suits you. But if you are truly flexible, then the close of the daily candles is your best bet.

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