There are no hard-and-fast rules for when to trade, but the following are general guidelines.
For some currencies, there are preferred trading windows:
- 8:00 – 20:00 is best for British pounds, Swiss francs and Euros
- 01:00 – 06:00 and 13:00 – 20:00 are best for yen (by CET time)
Economic news can affect exchange rates, and it’s released according to a calendar. When news is going to be published, you can do the following:
- Place your orders just before the news is released if you want to speculate on it
- Stay out of the market if you want to avoid the effects
When you track the market, you can use different time intervals. Specific codes are used for these intervals, as shown in the table below.
There is no best time for D1. However, you should check the new candlestick quickly after an interval ends.
Again, there’s no best time. You should check every 4 hours and look for buy and sell signals.
H1, M30, M15 and M5
The best time is when the market is fluctuating the most. This normally happens at the following times:
- 03:00 – 05:00
- 16:00 -19:00 – peaks occur at 16:45 and 18:30