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Myles

Which is the best time for scalping in a Forex market?

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Hi Myles,

The period you choose to conduct scalping will depend on the trading technique you decide to employ. You may choose to follow a specific direction in a highly volatile or directionless method when the markets are rough in scalping.
 You choose what you prefer best. You can combine both directional and non-directional technique as long as the method you choose brings you profit. 
7:00 to 8:00 am a good scalping time, especially for those who prefer choppy conditions. The European markets face choppy conditions at such a time since the New York market is about to open.
Between 8:00 to 10:00 am, London, Frankfurt, and New York markets are open. There is important news being released; therefore, the market at this time is highly volatile—scalpers who prefer following a specific direction while scalping may scalp at this period.
3:00 to 7:00 pm is another good time for scalping. Many U.S. banks are usually open from 3 pm to 5 pm, but they close as the day goes by. From 5 pm to 7 pm, most major markets have shut down, and it is the best time to trade if you prefer a quiet and slow-moving market. 3 to 5 pm is best suited for scalpers who like market volatility to make a profit. 
There is no specific best time for scalping. It all depends on the trading strategies you employ and willing to use.
 

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Hello Myles,

Scalping is a quick way to earn money thanks to its short trading periods. Even so, you can lose your capital at the same speed if your timing is wrong. Here are some of the windows scalpers should maximize.
7:00-8:00 EST
European markets remain choppy while traders await the commencement of the NY market. Adding to the rough conditions are option inquiries, news, and European statistical reports released at 4 am. This state is perfect for scalpers exploiting slight oscillations on both sides.
8:00-10:00 EST
This period is characterized by sudden directional swings courtesy of the open London, Frankfurt, and NY. markets. Although scalpers have the potential for huge profits, a slight miscalculation at this time may erase all the gains from other positions.
15:00-19:00 EST
This period contains two parts. From 3-5 pm, the first phase is ideal for traders seeking to maximize their profits using the volatility from the US banks that are yet to close. Conversely, the 5-7 pm phase offers directionless swings that are easy to exploit.
Moments when the market is subdued are less favorable for scalping. You don’t want to be trading when a currency’s price has taken a sideways pattern.

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