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Adequate choice of time for positions opening and closing is very difficult task which demands strict concentration, patience and unfortunately great experience of trader.
Market has three major characteristics which trader should keep in mind: level, trend and timing. Trading is an art to be in the right place on time, i.e. at the appropriate market side. We have already discussed properly how to choose the right place to enter a market and make it in right direction. Now it is necessary to talk about timing. Since market events are developing not only in space but also in time, it is necessary to take into consideration broad picture in any moment of opening and closing position. Timing is an extremely important factor in trading and timing perception is an essential component of trader’s success in market art.
Thereby position is being opened in current market direction at the moment when market forms new "Peak" or "Bottom" of the day which gives trader some statistics advantage. It is especially right when market just does not have enough time to finish trading diapason till the end of market day.
Usually it is not that difficult for experienced trader to define trading levels but time forecast of such case is complicated or impossible. Mistakes in accurate forecast are so great that they frequently make trader prematurely close potentially very profitable deal or keep the deal opened longer than it is necessary. Position with floating stop-loss often closes by the most acceptable stop-loss right before the turn to the correct direction.
However there is a connection between amplitude of market oscillation and its direction. So knowledge of some general rules concerning timing can help trader to choose the right place on time. Moreover since the market opened 24 hours it is clear that trader cannot monitor it steadily. Consequently work hours should be organized in the way that trader’s attendance at the market concurs with its best activity periods and brings the most probable effect. It is important to understand how time and market space are correlated in order to reach the aim. Market should finish its middle day trading diapason so distance between the "peak" and "bottom" can be accurately predicted.
This statement is one of major postulates of my trading method. This fact has direct ratio to intraday speculative trading and some of my patterns are based on it.
This market peculiarity strictly joins "place" and "time". If you take into account market inertia such approach allows you to define effectively levels of position opening and closing and make a deal in appropriate time. To open new position I use "stop enter" avoiding waste of time trying to open position by market price. Actually such strategy is good enough because market often moves faster at the moment of new daily "peak" or "bottom" establishment.
Night trades also allow you to profit from the retracement of any gains or losses on the currency pair that have accumulated in the US and European markets, as it is normal to see any sharply volatile retracements during night trades.
Forex markets around the world are open 24 hours a day, starting at 5pm. Sunday to 4pm EST. EST Friday. Part of the reason that Forex can be traded within 24 hours is due to the different international time zones.
Forex is the best way to make some good and reliable money online. So, if depends on the Fire.
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