When is the best time to trade forex?

[Nancy parez]

The forex market is the largest and most active financial market in the world, known for its round-the-clock trading. But when exactly does the forex market open and close? Discover global FX market hours and when the best time to trade forex is.

What are the forex market hours?
Forex market hours run 24-hours a day during the week, but the market is closed on weekends. This continuous trading is only possible because forex is traded all over the world in decentralised venues.

Forex market hours are broken up into four major trading sessions: Sydney, Tokyo, London and New York. These are the largest trading centres, accounting for nearly 75% of FX daily volume. The market is open from 10pm (UTC) on Sunday – when the Sydney session starts – to 10pm on Friday when the New York session closes for the weekend.

New York
New York (open 8 a.m. to 5 p.m.) is the second-largest forex platform in the world, watched heavily by foreign investors because the U.S. dollar is involved in 90% of all trades, according to "Day Trading the Currency Markets" (2006) by Kathy Lien. Movements in the New York Stock Exchange (NYSE) can have an immediate and powerful effect on the dollar. When companies merge, and acquisitions are finalized, the dollar can gain or lose value instantly.

Tokyo
Tokyo, Japan (open 7 p.m. to 4 a.m.) is the first Asian trading center to open, takes in the largest bulk of Asian trading, just ahead of Hong Kong and Singapore. The currency pairs that typically have a fair amount of action are USD/JPY (or U.S. dollar vs. Japanese yen), GBP/CHF (British pound vs. Swiss franc), and GBP/JPY (British pound vs. Japanese yen). The USD/JPY is an especially good pair to watch when the Tokyo market is the only one open, because of the heavy influence the Bank of Japan (Japan's central bank) has over the market.

It is important to take advantage of market overlaps and keep a close eye on news releases when setting up a trading schedule. Traders looking to enhance profits should aim to trade during more volatile periods while monitoring the release of new economic data. This balance allows part-time and full-time traders to set a schedule that gives them peace of mind, knowing that opportunities are not slipping away when they take their eyes off the markets or need to get a few hours of sleep. You can visit here for more information. 

https://tradersunion.com/interesting-articles/stop-loss-order-should-i-use/

[Michael Butcher]

Thanks for excellent explanation! I think that before entering the market, you need to study all the information about the market, trading, brokers. It was hard for me as newbie to choose the right broker. I searched a lot of sites in order to find smth good. I also spent a lot of time looking for a broker and accidentally found this site Finarm, which has a whole bunch of different companies listed. It's pretty convenient and can give you some insights. 

[David Max]

Forex trading is one of the most popular business in this world. It is very popular because in this market it is possible to earn a lot of money. It takes no physical effort. It is completely a mind work. It takes less time to earn huge profit. On the other hand, It is also possible to fix your loss in this market. One of the most important thing about forex market is there is no need to invest huge money to get a high profit. I am also a trader of Tpglobalfx in this forex market. I can make profit within short time without any hard effort. Just using some techniques i can easily earn money with the help of my broker.

[Resolve]

On 6/28/2021 at 1:49 PM, David Max said:

Forex trading is one of the most popular business in this world. It is very popular because in this market it is possible to earn a lot of money. It takes no physical effort. It is completely a mind work. It takes less time to earn huge profit. On the other hand, It is also possible to fix your loss in this market. One of the most important thing about forex market is there is no need to invest huge money to get a high profit. I am also a trader of Tpglobalfx in this forex market. I can make profit within short time without any hard effort. Just using some techniques i can easily earn money with the help of my broker.

We need to determine which Time Frame is going to be the best for us to make the profits.