When is not a good time to trade? | Page 2 | Forex Factory

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When is not a good time to trade?

  • #21
  • Feb 14, 2017 7:31am Feb 14, 2017 7:31am
Indeed, Market opening and closing are some of the most hostile times for trading. The reason why is that during this time there is high volatility, low liquidity and wider spreads. All of them combined scream disaster
  • #22
  • Feb 14, 2017 7:31am Feb 14, 2017 7:31am
A good time not to trade is when you don't know what you are doing! This is when you are most at risk.
You came here for the truth and let me unveil it for you
  • #23
  • Feb 14, 2017 8:09am Feb 14, 2017 8:09am
The wrong time to trade is when your trading system / Money management / Mindset are not in line with the market environment.

Some systems are better working in erratic time (openning or news time), others would make you lose your shirt, and so on.

There is no perfect system that will work in any environment / pair / Timeframe (the holy grail?), even though a lot of of us predend we know it while still looking for it. Going for system to system seems to be part of the learning process

So Know yourself, know your system, know the markets, then you'll know when to apply what.
  • #24
  • Feb 14, 2017 8:21am Feb 14, 2017 8:21am
Never trade when the market is not in sync with your (tried and tested) entry rules, no matter how inviting the market is. Your trading rules should be your navigator under all market conditions. Among other things, good trading rules would normally incorporate what to do during high volatility and low liquidity periods.
  • #25
  • Feb 14, 2017 11:42pm Feb 14, 2017 11:42pm
Yeah, we need to rely on many things like Market Analysis and lots more, as Forex is the very much unpredictable business and thus it is never should taken lightly.
  • #26
  • Feb 15, 2017 6:52am Feb 15, 2017 6:52am
Quoting mlawson71
{quote} I agree in general, but the original point wasn't bad. One shouldn't risk money on Forex trading that they can't afford to lose.
That is a basic rule of money management plan that must be learned before a beginner trades forex, else he gambles his hard-earned money away. Traders who fail to this are alway quick to blame the market when the market goes in an unexpected direction.
  • #27
  • Feb 22, 2017 11:13pm Feb 22, 2017 11:13pm
When you have lose a lot, it is not at all the good time to trade, as you will lose again depending on your emotions at that time.
  • #28
  • Feb 27, 2017 2:33pm Feb 27, 2017 2:33pm
Quoting The Fool
Don't trade when you're poor.
Been waiting for someone to ask why you think poor people can't trade if they have the interest. Am asking it now, why do you feel so?
  • #29
  • Feb 27, 2017 2:36pm Feb 27, 2017 2:36pm
"When is not a good time to trade?"
Saturday and Sunday
"You may say I am a dreamer .... but I am not the only one."
  • #30
  • Feb 27, 2017 2:37pm Feb 27, 2017 2:37pm
Don't drink and trade.
  • #31
  • Feb 27, 2017 2:38pm Feb 27, 2017 2:38pm
Quoting baile
Been waiting for someone to ask why you think poor people can't trade if they have the interest. Am asking it now, why do you feel so?
Poor people need money to meet their basic necessities. Beyond that, poor people need to dedicate their spare resources into getting an education or starting a business of some kind, which will help them remedy their indigence. Trading and gambling are at the very bottom of the list of what poor people should be doing with their money.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #32
  • Edited 2:52pm Feb 27, 2017 2:39pm | Edited 2:52pm
Quoting baile
{quote} Been waiting for someone to ask why you think poor people can't trade if they have the interest. Am asking it now, why do you feel so?
Because you should only trade with money you can afford to lose. If you are poor(or don't have much money) then you should have other higher priorities with your money than trading.(and if you say "but but if I trade with micro lots and only risk $5 per trade max, no serious trader would call this trading, it's no different from demo and anyway you would have more fun playing video games)

edit: the post above got in first while I was writing!
  • #33
  • Mar 2, 2017 4:03pm Mar 2, 2017 4:03pm
Quoting oztrader79
{quote} Because you should only trade with money you can afford to lose. If you are poor(or don't have much money) then you should have other higher priorities with your money than trading.(and if you say "but but if I trade with micro lots and only risk $5 per trade max, no serious trader would call this trading, it's no different from demo and anyway you would have more fun playing video games) edit: the post above got in first while I was writing!
Lol, I do understand your point. But lets reason from the angle of the example you gave; imagine he started small and gradually that seemingly small funds increased, what happens then?
  • #34
  • Mar 2, 2017 9:40pm Mar 2, 2017 9:40pm
Quoting baile
{quote} Lol, I do understand your point. But lets reason from the angle of the example you gave; imagine he started small and gradually that seemingly small funds increased, what happens then?
Ok, well it depends what we define as being poor. But let's say they open an account with $20 - anything greater than this would be better utilised by a poor person to pay a phone bill or something. How long would it take before this amount became meaningful income (especially when the time spent watching charts is considered and doing analysis is considered a per hourly rate - surely worse than the crappest of jobs) ? Now I know, someone will have their excel chart working out cumulative profits and saying with x% return per week they will be making a million dollars in five years so this seems a solid strategy, show me such a person, not just the theoretical possibility.

At minimum, a person needs $1000 to start a base to slowly build up - and if you consider yourself poor then I think you can't afford to lose $1000 or it could be better spent in your situation.
  • #35
  • Mar 6, 2017 8:16am Mar 6, 2017 8:16am
When we are angry in Forex is not at all the good time to trade in Forex. At that time we will make wrong decisions and that will lead us to more loss.
  • #36
  • Mar 17, 2017 7:54am Mar 17, 2017 7:54am
Well I personally feel it is always better to avoid trading at the time of release of big events as market is highly volatile at that time.
  • #37
  • Mar 24, 2017 7:12am Mar 24, 2017 7:12am
Quoting sadip.tammat
The worst time to trade is when you are stressed/depressed and can`t really consentrate on trading. Your mental state is really important, so keep calm and trade
That's a good point. Trading is hugely dependent on the trader's mental condition, among many other things, if the trader is not focused on their task, they would have a hard time profiting.
  • #38
  • Mar 26, 2017 12:38pm Mar 26, 2017 12:38pm
Quoting mounir90
Some people dont like when the market is open to trade, but is there a golden rule that is consistent not to trade?

Dont trade unless you have a full understanding of the risk you are taking.

With regards to times of day, generally speaking the more the liquidity the better, so a lot people prefer the European session.
I live entirely from the growth of my personal trading account
  • #39
  • Apr 12, 2017 3:27am Apr 12, 2017 3:27am
Well, there is no such fix time to not to trade. However, as above said it is always advised that you must not trade at the time of release of big events. Events when volatility increases are FOMC minutes, NFP report, CPI figures or any other important political news which is likely to impact the market. And rightly said, mental condition of a trader while trading matters a lot while trading.
  • #40
  • Apr 12, 2017 7:17am Apr 12, 2017 7:17am
It can be, but you can’t avoid any specific trading session if your trading strategy produces good entry point consistently! By the way, in my 1st year of trading I avoided 1st session of Monday and last session of Friday! But right now I am not because of my improvement on Forex trading! Even, now I am also interested on Gap trading!
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