Origin
The expression is recorded in Richard Edwards in 1566.
Explanation
‘Strike while the iron is hot’ has been derived from a blacksmith striking a horse shoe when the temperature of the metal was exactly right. If the blacksmith would wait too long then the metal would cool and would become more difficult to shape. We should take an advantage of a situation when the time is right. It means to take advantage of an opportunity as soon as it exists; in case the opportunity goes away, time does not return. Seize a good opportunity as quickly as possible. Make the most of the chance while it is there. If you are making something from a metal such as iron, you need to hit or strike the metal while it is hot if you want to change its shape.
Examples
When the stock market goes down, lots of people try and buy, because it’s a good time to strike while the iron is hot.
A : I’ve been thinking of going to university, but I’m not sure if now is the right time.
B : You’re 18, single and have extra money. You should strike while the iron is hot and go to university now!
You don’t often make such offers; I’d strike while the iron is hot if I were you.
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