But is it active and profitable all the 24 hours? Currency rates are hugely influenced by the demand and supply of currencies, thus the biggest rate fluctuations occur when the volume of trades is the highest. Each of these sessions is 9 hours long and these are the times when the majority of trading happen. GMT is 4 or 5 hours ahead of the U. Eastern time as there is no daylight shift used in GMT.
London which is considered to be the capital of currency trading. Second most important and active market is New York and then comes Tokyo. London and New York Session Let’s have a look at how the trading session times overlap in Figure 3. Many professional traders consider 14:00 GMT to be the finest time as London is preparing to close and traders are getting ready to move to New York’s market. This creates big swings in the currency prices thus opening greater opportunities for profits. The opening of the London’s session is also very active and productive as it overlaps with the ending of Tokyo’s session. NY this time is pretty quiet as it is late evening or night in the rest of the world.
Mondays usually start slower as the news are just in the preparation, but it doesn’t mean you can’t trade on Mondays. The most active part is the middle of the week, with holidays starting earlier as Fridays are usually active only in the first part of the day. As you can see the foreign exchange workweek is quite flexible in terms of work-life balance: half of the week when you can work full throttle and the rest for a slower pace, recreation or other projects. Important thing to understand is that you don’t have to trade all of the sessions, it is neither sustainable nor productive in the long run.
Instead you should choose the most suitable time frame to match your daily rhythm. Forex Illustrated Forex illustrated provides reliable and independent information about foreign exchange market. Our aim is to offer insightful and useful analysis of the best tools and learning materials for mastering the skills of trading in a productive, fun and fast manner. Foreign Exchange involves risk, use caution. Forex market is open 24 hours a day. It provides a great opportunity for traders to trade at any time of the day or night. However, when it seems to be not so important at the beginning, the right time to trade is one of the most crucial points in becoming a successful Forex trader.
So, when should one consider trading and why? The best time to trade is when the market is the most active and therefore has the biggest volume of trades. Actively traded markets will create a good chance to catch a good trading opportunity and make profits. Live Forex Market Hours Monitor:Reviewed, improved and updated on August 24, 2012. USD currency pairs would give good results between 8:00 am and 12:00 noon EST when two markets for those currencies are active. At those overlapping trading hours you’ll find the highest volume of trades and therefore more chances to win in the foreign currency exchange market. Market Hours Monitor to identify trading sessions.
If you haven’t chosen a Forex broker yet, we recommend Forex brokers comparison to aid your search. Download Free Forex Market Hours Monitor v2. This is a simple program aligned to Eastern Standard Time. Time zone option is added for most of North American and European countries. Forex trading is a high risk investment. All materials are published for educational purposes only. Forex trading is a popular alternative to earn some more money.
Millions of people in each country is recorded to be involved on such trading. This business runs for 24 hours. It allows you to join the market on more flexible times. Several traders even use special automatic software to run their trade so when they are working somewhere else, they are actually earning money from trading as well. Foreign exchange trading allows you to invest in a huge size without influencing the other parts of trading. It gives you chance to earn more from the foreign exchange trading. Foreign exchange trading is insecure in a way that it is highly influenced by like national debt level, political condition, and so many changing factors.
You need to be aware of the factors all the time. Foreign exchange can be done personally on brokers and this can be your side earning source. You do not have to leave your current job but you can earn some more money for kids education. Foreign exchange trading can be learnt. You will be able to find guides and e-book about it. If you join a broker, you will get tutorial as well.