Monthly Archives: April 2009

When is the Best Time to Trade Forex?

I often get asked, ‘when is the best time to trade forex intraday?’

Great question!

Just because the market trades 24 hours a day doesn’t mean that there are opportunities available all day every day. The market typically varies in range, and therefore opportunity, at various times throughout the 24 hour period. Some periods of time have a larger average range of price movement. Other periods of time have a more narrow range of price action. The best time to trade forex for you will depend on whether your strategy performs best in a wider range market, which has greater likelihood of extended trends, or whether it prefers a narrower range-bound market.

Let’s look at the various forex sessions.

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Are Short Timeframes Too Risky For Beginners?

The following is an extract from some great Q&A with one of the YourTradingCoach newsletter readers:

 

Question:

Lance,

I have been watching those videos on your website and the more I watch them, the more sense they make. They are great, but as you may have guessed I have questions.

Firstly, your style of trading would have to be deemed as “scalping”. I mean using the hourly chart to find S/R levels then picking your trades on the 1/5 minute charts is scalping surely. However most authors, experts, or whatever they call themselves do not advise this and warn especially against learner traders trying the faster time frames.

Do you think your style may be a little to risky for novice traders?

Thanks from Brian.

 

Answer:

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