How to choose best hours for Forex trading??
Forex trading is an activity which never stops because some markets close for night but some remain open somewhere else. In such a way online forex trading hours differ but the activity keeps on going 24 hours a day.
For Forex trading some hours are important than others. If the time of your trading is like a bull’s eye, you will make greater profits. Some people think that trading can be done at any time of the day but such people cannot make good profits. One most important question which is rising in your mind in would be- What is the best time for Forex trading?
The time is fixed for all the Forex markets to open all over the world i.e. 8am to 4pm. A trader who knows the overlapping time of the different Foreign exchange markets can become a real winner. The reason behind this is that these hours are the peak hours when the foreign exchange market is most active and your trade during this time will make you win. During these hours different currencies are most active if you are not aware of these best trading hours, you will never be a winner. These hours provide better opportunity out of 24 hours of currency/forex trading. As the price varies every second, you never know when the perfect opportunity will come.
Note, that if a trader in Australia decides to do trading at 3am he will not be able to do trading through Forex dealers who are also located in Australia. It does not mean that he cannot trade at all. He can do trading through North American dealers
Order of opening different currency exchange markets is
- New Zealand
- Asia (mainly Japan)
- Middle East
- Europe (mainly London)
Forex trading online hours of different countries according to Indian timings are:-
- Australia -5pm to 1am
- Tokyo -7pm to 3am
- Singapore / Hong Kong -9pm to 5am
- London -3am to 11am
- Frankfurt -2am to 10am
So trading stops in Asia around 5am but market is busiest in Europe. On the other hand trading in New York kicks off at 8am while the European market is going to close. Soon afterwards Australian market is waking up and Sydney is going to complete one full trading day.
In foreign exchange market currencies are traded 24 hours a day i.e. from Sunday afternoon EST to Friday afternoon EST but the best time is only that during which two different markets over overlap.
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