In today forex faq, we have a question from one of our fellow traders.
Below is the question:
How can I know the exact time to trade? When the market responds best to my trading system? Are there MT4 indicators for pair cycles (Eur/Usd)?.
For the first question on the exact time to trade, I will usually trade during the London Open (8a.m. GMT), London Close (5p.m. GMT), New York Open (12p.m. GMT) and New York Close (9p.m.).
These are the timing where the market is more active and therefore you are able to hit your target profit more easily if you have a good trading system.
As for the second question, I am unable to tell you when the market will responds to your trading system. That is when the demo account becomes important. You should try trading your system during the london session and new york session to see how it responds to the market.
If you are getting a good outcome from your trading, this means that your trading system is suitable for that timing. Before you start trading live, you should always find out more about your trading system on a demo first.
As for the third question, I don’t quite get it when you say are they any MT4 indicator for pair cycle. What exactly are you looking for with the indicator?
If possible, you can leave a comment at the bottom of this blog so that I can answer you back with the comment section. I hope that I have answered your question and for those of you who are reading this blog, do feel free to give your opinion to the question above as it will be beneficial to other readers here.