We've all learned that Forex is known as a around the clock market, and
it's possible to trade all hours through the day and night. What you have not
been told will kill your earnings. Forget About any notion of trading whenever
you want. To be a successful forex trader you need to know when and why to trade
during particular forex trading hours. This article will teach you how to choose
the perfect time to trade forex.
Forex Trading is a Foreign Exchange spot market at which traders converge to
trade currencies. Forex is definitely the biggest, most volatile market, and
contains the most liquidity out of any market. Every day 1. 8 trillion dollars
are traded in the currency market. This is simply not a game for little boys!
The biggest players in Forex Trading are large major banks. It's the banks that
you are competing with, and it's the banks that move the market. Real-time Forex
trading is really a skill that takes time to master.
You will be competing against Ivy League whiz kids and automated trading
indicators. If this frightens you, undertake a game of bridge at the senior
citizen centre, and try your shot at something safe like government bonds ---
Forex Trading is for people who are not afraid to take risks. No risk, no
reward! Live Forex trading is really a virtual game of hide and seek: The large
banks and your fellow fx traders are out to get you. Ignore the results you've
had in demo accounts, realtime Forex trading is an entirely different ball game.
Take your time reading this
When is a good time to trade Forex? The biggest joke that's played on new
Forex traders is the myth that Forex Trading can be profitably traded at all
hours of the day. It's a big disservice to newcomers because they wind up
trading at the most unprofitable times of the day. Live Forex trading isn't
really 24 hours. Let's learn when to trade.
The very best Forex trading hours are when there is an overlap between two
major sessions. The major sessions are:
New York starts up at 8:00 am to 5:00 pm EST
Tokyo starts up at 7:00 pm to 4:00 am EST
Sydney opens at 5:00 pm to 2:00 am EST
London starts up at 3:00 am to 12:00 noon EST
The absolute best time to trade is during the time when New York session and
London session overlap. For those on the east coast of the United States, it is
in between 8 am EST and 12 pm EST. This overlap in sessions is when most of the
major action takes place, and it's where most intraday traders should trade.
During this period, it isn't unusual to seea currency pair like the EUR/ USD
shift 100 pips. If your main plan is to do any kind of day- trading, do it
during this overlaping time. The time prior to Asian session ends overlaps with
the open of the London session (3 am to 4 am); this is a good time for you to
trade on some early market momentum. Being aware of the correct Forex trading
time will keep you out of trouble.
Live Forex News trading is significantly different from trading on a demo account.
Real-time forex trading is dependent on when you decide to trade. By only
trading during the prime time, when two sessions overlap, and when much of the
money is being pumped to the market; a trader is able to get a piece from all of
the major moves of the day. Knowing when you should trade comes behind money
management and discipline. Have fun with your new found knowledge.