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Web.fonetekno.com – The problem of choosing the best time in the trade often complain by a new trader. The intention is try to do trading as a side job, but the timing of his sleep is not so messy.
In addition, there is also a feeling burdened because of the release of the news impact often arise when traders do not watch the market. For example, when trading EUR / USD, many are forced to shift hours of sleep and awake throughout the night while the ready in front of the chart.
If You are a trader full time no need to go to the office in the morning, it probably will not be a big problem. But if You still have to work from 8 in the morning, trading with live constantly at risk on the health and overall lifestyle. Because of that, you have to have a way to choose the best time in the trade.
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When Is The Best Time For Trading?
Actually, forex trading is an activity that can be tailored to each individual. If Your colleague is fond of staying up late when trading, You should not force yourself to follow the hours of sleep. The most important thing is how to get profit and avoid loss. Easy when pronounced, but it’s hard when it will be applied. Moreover, if You are easily tempted to peer trading platform constantly.
Solution, You can choose the best time to trade by answering the questions below:
1. Pair What Do You Trade?
When will the open position, adjust the timing of Your trades with the opening hours of forex market of a country that the currency will be traded. For example if You trade in EUR / USD, then You have to start entering the market when the hours of work of the United States and Europe opened.
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Price movement that occurs when the market in this country tend to be more toned compared to other hours. If looking for a partner who open market hours in the morning until the afternoon, then the pair that uses JPY (Asian session) or AUD (sessions, Sydney) is the answer. However, the selection of a partner should also be based on various considerations.
2. Like What Is Your Trading Style?
After determining the pair of what will be traded, the next method is to recognize the style of trading yourself. Are You very focused on the chart and not too concerned about the hustle and bustle of the news, or would prefer to follow the news and utilizing some of the indicator as a confirmation of the trend.
There are traders who follow the news and FOMO (fear of missing) aka not want to miss. He is the source of the chaos that often arises. Because You live in Indonesia, it is often the release of the news happening in the moments that are less profitable.
When you want to sleep well, working Hours in Europe and the United States are busy-busy. In addition, it is often a misconception that trading news means to react when the news is released. Whereas, the trading strategy could be set because the news has not yet launched.
Instead, make some friends traders wings tehnikalis, they will stay away from the market when the news flow. So, You don’t actually have to stay up waiting for the news release.
3. How Much Of Your Free Time?
In addition to pay attention to the partner and the strategies used, one more thing to consider in choosing the best time to trade is:
How much free time You have ready to observe and analyze the market. This needs to be a consideration, especially for traders who still have another job outside of the trading activities.
Don’t let the activities of forex trading really interfere with other activities that are more important, such as time to work (especially for novice traders or trading for extra income), worship, or quality time with the family. Forex Trading requires commitment as well as the psychological condition of the stable, do not force yourself to stay awake all night if it really trigger stress and damage to health. If You have the intention to become a full-time traders, make changes gradually.
Tips after getting best time to trade after deciding the best time to trade, You now know that forex trading does not have to remain awake throughout the night.
Ways on this page, You can apply in order to keep trading and keep the rest:
Take advantage of the trading facilities provided by the forex broker has facilitated You to position more easily. Without the need to keep an eye chart constantly, You just set on a certain level and then go to bed quietly.
When you wake up in the morning, you only need to check the result. If there is a profit, do not harvested, if the loser good and evaluation. These features, among others:
Stop Loss, which limits the lowest price specified to limit losses. When the price movement of touching this value, then the system will automatically close the order or position.
Take Profit, which features close a transaction automatically if has touched a profit specific. It is very useful to secure a profit when price volatility increases.
Pending Order, in accordance with the name of the pending order, the position of the Buy/Sell a specified through this feature will only be executed when the price touches the level that You are targeting.
The Trailing Stop, which transfer orders Stop Loss in forex trading that are moving (not static). Different with Stop Orders manually or install the Stop Loss, Trailing Stop will move to follow the movement of the prices with the distance of pip that we have set.