It is of supreme importance to understand the time that you choose to trade in and know what you can potentially expect at that time of day.

It is different for each instrument so it is crucial to study market behavior for your particular instruments. I usually trade only 3 instruments the DAX, Euro/USD and the GBP/USD and am familiar with their behavior during the trading day. Other vehicles act differently therefore I will only trade them (and I do occasionally trade S&P, WTI, , and other currencies) after I've examined their time related patterns.

Timing issues are not easy to figure out and sometimes it's easier to buy a trading system, not so that you can follow it blindly but instead use it to supplement your own interpretation of the market. Always best to read forex trading system reviews. A systems I use regularly to supplement my decisions is forex rebellion. It fits in nicely with my MT4 setup and adds confirmation to the timed entry.

The most suitable time to trade the DAX is close to the London open at 03:00 EST, as the open usually brings a large surge in volume and it's a piece of cake time to scalp.

It is commonly possible to achieve a gain of 20 - 40 points in the first 30 minutes of trading. As my daily target is 30 points and it is often hit within half an hour, I can then relax and search for ideal set ups that will not risk the gain.

Another good time to trade the DAX is around 13:30 UK time (08:30), but need to watch out for any news announcements as this is the time most US releases come out (CPI, GDP, NFP etc). It it a pretty volatile period and once again it's easy to capture good set ups then.

About 1 hour after the markets open (London and NYC) we normally see consolidation and I tend not to trade these periods, it can be quite tedious.

Surely you've noticed how fast the time goes by when you are in a trade that is going against you and how slow it is when a trade you've entered just hovers around break even.

Chances are that it's the same period of time, it's just our mind playing games with us. To my mind, I look for a trade to move my way within 2 bars (1 min, 5 min or any other time frame you trade). If it just hovers around I get out and wait. My experience is that if a trade doesn't move your way quickly, it is a less probable trade. Practice patience before entering a trade and not after you've entered it.

Timing is a separate issue and depends on your trading method, one of the methods I use, is reversals at known pivot points. This is a rubber band sort of trade and routinely you can catch a reversal and a new short term trend.

Under these circumstances, with scalping, if you have a particular price area you have designated, timing makes a big difference, enter too early you may get stopped out, and if you enter too late you will miss out.

Bottom line, remember that trading is 90% is a mental game, and if your mind is not focused or you're not in a good state it's best to stay out, better to recover, and then go back.

I use meditation, and continuously make sure I am completely calm and confident before I trade. Lately I've been using a subliminal video and I find it's beneficial, 10 minutes of watching and I am ready to make money easily.

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