One thing clear about forex exchange trade is that staying alert determines how you win. You have to plan your forex trading days well or you may lose your investment. Forex trading market does not open all days the week. There are five and a half active forex trading days in a week with 24-hour operations running every day. As a trader, you need to stay sharp and learn the techniques that make your long wait worthwhile. Staying sharp does not mean you stay glued to your computer, learn to make good use of forex trading days, that you find fit for your schedule. Here are tips to help you plan your days better.
You are not a robot
Do not stay long on the network during forex trading days. Your mind and body get tired and you need to reenergize yourself. It is impossible to go for long days without sleeping. During the forex trading days of the week, identify a few hours every day to put everything aside and take a rest. It costs you nothing rather it benefits you a lot.
You need to plan your time well
A good trader is like a predator, he/she knows well when to invest and when not to invest. Plan your time well since you know how many forex trading days are there in a week, you can make sure you have time to rest and just refresh your mind.
What days are worst for trading?
There are forex trading days that you should not even think about. Days like Sunday when people are resting, or public holidays when everyone is out having fun. Friday’s may not also be a good day since the currency liquidity dies. Another bad time to trade is when there is a major occurrence around the globe and everyone is glued to the news.
Identify hours that trade best
Not every hour in forex trading days will have huge concentration. There are hours which are just low. An example of such a time is on Fridays afternoon when the market is almost closing. This is the very time when you experience the death of liquidity. You can use such time to do other staff of rest if you are so much into forex trading.
Understanding forex trading can be all that you need to avoid making losses. Also, one must know that forex trading means planning your moves before committing your money. You get to do other things you enjoy doing earning at the same time.