I’m new to forex. I currently going to school of Pipology. Can any of you Forex superstar traders tell me when is the best time of the day you trade. I’m on the East Coast (NYC).
I do what I do between 4:30 pm and 7:00 pm (NYC) time.
Have you been successful at trading during those hours, 4:30-7:30 PM, EST
4:30 - 7:00pm??? If you’re on the East Coast, the best time to trade the majors would be during the Euro/US overlap which is between 8am -12pm EST.
I recommend you check out our lesson on Market Hours.
I use the day chart.
The market is quiet at that time.
For a day traders, ForexNinja is right. The the London/NY overlap is the highest volume and most active part of the trading day. Otherwise it doesn’t really matter, though pipgod’s approach to entering longer-term trades in the evening is a good one since you rarely have to worry about slippage due rapidly moving prices.
I close positions and open new ones at that time, If I have confused anyone.