This is another question that is asked by one of my newsletter subscribers.
I would like to know the best forex trading times to start trading which can produce profit with at least 90% success.
There are several timing of the day that are better to trade and these timings are what I refer to as the best forex trading times. At these timings, there are high volumes of trades which will translate into bigger price movement.
In order to make money from forex, you have to make use of the large price movement to give you a good risk reward ratio.
Below are some of the best forex trading times to trade
- London Open – Eastern Standard Time 3 a.m.
- London Close – Eastern Standard Time 12 p.m.
- New York Open – Eastern Standard Time 8 a.m.
- New York Close – Eastern Standard Time 5 .m.
I love to trade these timings because of the volatility, these are when the big dog traders start to enter their trade and exit their position. If you are able to trade in the same direction as these professional traders, you will be able to make great profit.
As for your second part of the question asking for time which can produce profit 90% of the time, I will say there is NONE.
Forex trading relies a lot on the action taken by the trader and not the time. In fact, being able to trade with 90% accuracy is pretty rare. Most successful traders trade with 60 to 70% accuracy but the reason why they are still profitable lies in their risk reward ratio.
Therefore if you are looking to be profitable in trading for the long term, you have to horn your money management skills.
I hope that I have answered the question and if you have any suggestion or input for this question, do share your opinion by commenting below.