What is your best trading time? What session are you in?
Also, what is the best trading day for you?
As far as I get, it’s better to stick to the middle of the week (unless there are no major events spoiling the fun). Is that true?
Hi Mikar,
It all depends on your personal (written) strategy. It completely depends on your personal style and the different pairs you trade. The overlap of the London-New York session is generally the most volatile in EUR and US pairs. But as you would guess the AUDJPY for instance would also do well in the Asian session.
For some traders the major events are the only fun in trading.
There is often no “true” or “not true” in best times of trading. But if you really want to put it in that order I would say: If the trading session suits your personality it is “true”, otherwise it is “not true”
European and US hours offer great volatility. Asian session is mostly great for scalpers.
Hey Mikar,
I trade the London and NY crossover along with the NY stock market open (6:30am Pacific time). It gives the best signals and patterns fulfill themselves with greater clarity. I also trade Monday to Friday, with less emphasis on Friday unless I have a multi day trade.
I’ve had good trades each and everyday, so, in my opinion, don’t limit yourself to the idea of mid week trading. Instead look for a confluence of good signals rather than wait for the day.
Hi,
It all depends on what type of trader you are. It works different for different traders. If you are day trader there will be one approach, if you are long term trader than it doesn’t matter which day it is or what time of the day it is as long as you see good signal.
I prefer the London session because while there’s volatility there’s not too much of it. As for what days of the week, I’m most active between Wednesday and Friday, occasionally Tuesday too. Mondays are often too calm in my opinion.
Hi Dutchtrader1,
Thank you for your explanation! It’s much clearer for me now. I used to trade JPY pairs but now I mostly do EUR/USD, so probably London-New York overlap is best for me.
Hi Godspeed108,
Thank you for your ideas!
Hi dianajs,
[I]London session because while there’s volatility there’s not too much of it[/I]
Hm, quite an interesting idea! Thank you for sharing.
My best trading time is when daily candle starts. I don’t trade sessions as I’m a swing trader. A day with good price action signal is the best trading day for me.
Good point, thank you for adding!