Tips on Timing Forex Scalping

Tips on Timing Forex Scalping

Tips on Timing Forex Scalping

Hence, here are some Forex scalping tips to do with the one of the factors that affects the Forex scalping method - time. The timing mentioned as follows are all according to ET (New York time).

Between 7am and 8am, European markets tend to experience choppy conditions as the New York market prepares to open at 8am. Traders in general would usually pause to reconsider strategies during this period while waiting for their North American counterparts to come into the game. The London and Frankfurt markets opens during this time, but there is little liquidity because there is not much trading going on. However, having a choppy period means that small, consistent oscillations in the price would happen, so during this period, scalpers often use buy-and-hold strategies to gain from the height of the oscillation.

Between 8am and 10am, markets in New York, London, and Frankfurt would all have opened, which means that the news are released and option expiries occurs. During this time of the day, the market is most liquid and volatile, so scalpers will need to have a reliable technical approach because the market can take a sharp rise and swing the other way very quickly. This makes profits extremely high, but risk of losses just the same. However, attaining profits from other trades in this situation would be able to cancel out the losses easily, so if you observe a trend in profits, optimize it. Avoid building up on positions because a one-time build up loss can easily be covered by the many small profits you gain within that time.

Between 3pm to 7pm, there will be a division of two phases, whereby between 3pm and 5pm, most US banks are opened but are beginning to close, while between 5pm and 7pm is the quietest part of the day. The 3pm to 5pm period is more suited for scalpers who prefer some volatility in the market because there are more opportunities to gain higher profits, but of course, risks as well since the banks are still open. The quiet period between 5pm and 7pm would be less volatile since the major banks in the world would be closed, so scalpers can scalp many profitable trades with low risks over and over again consistently.

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