First of all, let’s look at market time chart: Well, you can see when Sydney Market is open and Tokyo market will open after 2 hours. You can see between 13-17 GMT time and both New York and London markets are open. Now another important factor is market volume chart so you should know when the […]
First of all, let’s look at market time chart:
Well, you can see when Sydney Market is open and Tokyo market will open after 2 hours. You can see between 13-17 GMT time and both New York and London markets are open. Now another important factor is market volume chart so you should know when the market volume is the highest and the lowest.
Look at the bellow charts please:
The above charts show that EUR/USD has the highest volume and EUR/GBP has the lowest volume.
The below chart shows that the United Kingdom and the USA have the highest volume in the market.
Well, these statistics can help us to understand the trader’s behavior at different times.
For Example, we know that the highest volume currencies pair is EUR/USD and the highest volume according to the countries in the United Kingdom. It can show us the United Kingdom traders are trading EUR more than GBP.
Japanese traders have only about 3.5% transactions during the day but in the last chart, you can see that after EUR the JPY has more volume it will show that the other countries traders are eager to trading JPY.
According to the above information, we understand that the highest market volume is between 13-16 GMT times because EUROPE, USA, and London markets are open at the same time.
How can we find the best time to trade?
This depends on your trading strategies.
Strategies are different. Some Binary traders work better in a fast market movement with high volume and high volatility. Other traders are better when market volatility and volume is low. All depends on your strategies.
Now there is a simple way to understand the best time for your trading strategies.
- Open different demo accounts for trading on Binary Options. According to different strategies, if you have 4 strategies to open orders, you should open 4 demo accounts.
- Set your demo accounts in your strategies separately. For instance, if you have one strategy on Moving average and another one is on Fibonacci. You must open your moving average strategy on your first demo account and open your Fibonacci strategy to another demo account. Don’t trade on your first account according to your Fibonacci strategy.
- After at least 1 month, export your trading history and analyze your trading according to the market time. If you analyze carefully, it’s very easy to define your best time for your strategy.
After 1 month, on your Fibonacci account, you will see that the most winning positions are between 10:00-14:00 PM and the most lose on your Moving average account is between 08:00 – 15:00 PM then you can understand on your real account. you should trade with your Fibonacci strategy between 10:00 – 14:00 and leave your Moving average strategy at 08:00 – 15:00
Have a Profitable Trade.