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  1. #1
    Rookie Member petbax's Avatar

    Best trading time? !!!

    Hi, A quick question: as I work 9-5 Monday to Friday I find that I can only really trade BO's during the evening GMT. Can you suggest what currency pairs are best traded say from 17.00 > 23.00 GMT? Generally I've tended to stick with eur/usd but would be interested to hear anyone else's thoughts. Thanks

  2. #2
    Master Member SeasaltMcFish's Avatar
    Best thing you can do is watch the charts of several pairs and compare it to you strategy.

    Taken in account: news events, speeches and meetings!

  3. #3
    Legendry Member willyw's Avatar
    Quote Originally Posted by SeasaltMcFish View Post
    Best thing you can do is watch the charts of several pairs and compare it to you strategy.

    Taken in account: news events, speeches and meetings!
    Yes, I agree

  4. #4
    Legendry Member milos's Avatar
    17-23 GMT market usually sleeps. No choppy.Less volatility. I stop trading after 17GMT.

  5. #5
    Moderator Kolyo's Avatar
    Seasalt is right. News events are very important and market hours too. EU markets are closing at 17GMT and US at 21:15 GMT. Around these hours there is higher volatility which produce good trading oportunities. After 21:30 GMT the markets are quiet and much more difficult to be traded short term. It is good idea to start with EUR/USD because it is the most liquide and high volume pair but always keep an eye on few other pairs like AUD/USD, USD/JPY - especially important durring the evenings and ofcourse GBP/USD. This will help you to know if something unusual is happening around the globe. Hope this helps If you have other questions let us know!
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  6. #6
    Rookie Member petbax's Avatar
    Hello, thanks to all for the advice....

  7. #7
    Rookie Member BSB Oto's Avatar
    Just my 2 cents -

    Depending on the time of the day, the market 'types' change. During London open hours, you will see more trending markets with strong movements, as during London and US overlap, 60% of the day's volume of trades take place. During the evening, after London closes, the market is more mean reverting (ranging). During the asian session (Tokyo, Sydney), the market can often vary and are price movements are a bit harder to predict.

    You can check the market open hours from forexmarkethours.com

  8. #8
    Rookie Member Chocolate Mousse's Avatar
    Hi Petbax, this depends in part on what type of strategies you use for trading. I for example only trade strategies based on short time mean-reversion, which works best during periods of low volatility.

    For example for the currencies EURUSD and GPBJPY I have had good results over the years between 21:00 and 22:00 GMT (when all the respective exchanges are close). I only trade those currencies for an hour per day, with 5 minutes expiry.

    If instead you trade based on trend, you probably better do it when at least one the markets is open, but I'm not the right person to advise on that matter.

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