At what time it is better not to trade on Forex?
Trading in the Forex market, every trader tries to find for themselves the most optimal time to trade to get the most profit. Naturally, it is best to trade at a time when the opening exchanges of the country whose currency you are trading …
Not all traders, especially beginners, are aware that there are periods of time during the day when the trade is not necessary, otherwise you can lose very large sums of his own money.
One such moment is performance-report in which it is carried out on the number of seats in the US economy. At the time of publication of a very important economic releases currency pairs may move rapidly up and down, which, of course, can lead to undesirable financial losses.
Also it is necessary to refrain from work on the Forex while performing head the US Treasury.
This fact is explained by the fact that he in his speeches very often makes mistakes that may seriously affect the course as currency trading.
Other important public figures who are usually government or large companies all over the world during their performances directly or indirectly may affect one way or another on the quotes. Therefore, during their performance, as well as within an hour of the best is not necessary to enter the Forex.
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Monday morning. Asian session. At this time, all Europeans are still sleeping, Americans spend their legitimate weekends, Eastern market already hard at work. Trading volume at this time is very small, it can easily cause any undue exchange rate fluctuations. So, it is better not to risk it.
Nor should sight of the issue and the so-called Friday effect, which depends on the publication of the US labor market report. Following them are published and other economic reports in the US.
All this combined with the high volume of currency, which is currently spinning on the stock exchange, could create even an experienced trader to a large number of pitfalls. To overcome them by force is not everything, which is why it is best at this time, take a break from trading.
This article describes those scenarios were that most clearly influence what is happening in the Forex market, but it’s not all such cases (the data are simply systematic). Great influence on the currency market itself can also have and natural disasters, any accident, and so on, so you need to constantly be on the lookout …