Best Time to Trade Pocket Options.
If you are a trader on Pocket Options, you know that timing is everything. The right timing can mean the difference between profit and loss, so it is essential to know when the best time to trade is. In this article, we will provide you with a comprehensive guide on the best time to trade Pocket Options, and how to maximize your profits.
Understanding the Market
Before we dive into the best time to trade Pocket Options, it is essential to understand the market. The Forex market operates 24 hours a day, five days a week. The market opens on Sunday at 10 PM GMT, and it closes on Friday at 10 PM GMT. However, it is not always active during the entire 24 hours.
The Market Sessions
The Forex market has four major sessions, which are:
- Sydney Session – 10 PM GMT to 7 AM GMT
- Tokyo Session – 12 AM GMT to 9 AM GMT
- London Session – 8 AM GMT to 5 PM GMT
- New York Session – 1 PM GMT to 10 PM GMT
These sessions overlap, and during these overlaps, the market is most active. The most significant overlap is the London and New York session, which occurs between 1 PM GMT and 5 PM GMT.
Apart from market sessions, traders also need to pay attention to economic events. Economic events can significantly impact the market, and traders need to stay informed of the economic calendar. The economic calendar contains a schedule of economic events, such as interest rate announcements, inflation data releases, and other news that can affect the market.
The Best Time to Trade Pocket Options
Now that we have a basic understanding of the market let’s look at the best time to trade Pocket Options.
London and New York Session
The London and New York session overlap is the best time to trade Pocket Options. During this period, the market is most active, and there is high liquidity. High liquidity means that there is a lot of buying and selling, and traders can quickly enter and exit trades.
The Tokyo session is also a good time to trade Pocket Options. During this session, the Japanese Yen is most active, and traders can take advantage of this by trading Yen pairs.
Avoid Trading During the Sydney Session
The Sydney session is the least active of all the sessions, and traders should avoid trading during this period. The market is slow, and there is low liquidity, which can result in slippage and increased spreads.
Traders should also pay attention to economic events and avoid trading during high impact news releases. During high impact news releases, the market can be volatile, and there can be significant price movements. Traders can wait until the market settles down before entering trades.
Maximizing Your Profits
Now that we know the best time to trade Pocket Options let’s look at how to maximize your profits.
Use Technical Analysis
Traders can use technical analysis to analyze the market and make informed trading decisions. Technical analysis involves studying price charts, identifying trends, support, and resistance levels, and using indicators to confirm trading signals.
Set Realistic Targets
Traders should set realistic profit targets and stop-loss levels. Setting realistic targets ensures that traders do not become greedy and take unnecessary risks.
Use Risk Management Strategies
Traders should also use risk management strategies, such as position sizing and stop-loss orders. Position sizing involves determining the size of each trade based on the size of the trading account, while stop-loss orders are used to limit losses in case the market moves against the trader.