Best Forex Trading Hours
Working during the best Forex trading hours can significantly improve your success in currency trading. If you can choose the right times to trade, you can do better and make more money. Here are a few things to consider about choosing the best time to trade in the Forex market.
Choosing the Best Time to Trade
So when exactly is the best time to trade the Forex market? Well...it depends. The time that you want to in an entry the market will depend greatly on the strategy that you are using. The Forex market is available 24 hours per day, 5 days out of the week. Just because it's open all the time, doesn't mean you should be trading all the time.
In fact, it might be harder to force yourself to stay out of the market enough to be profitable.
Many people make the mistake of trading to frequently and it ends up costing them dearly.
Forex Market Hours
Although the market is open all the time (except on the weekends) there are different sessions that are open at different times throughout the day.
For example, the New York market is open during the day in the United States while the Sydney, Australia market is open during their day. While someone from Australia can trade the market at any time, there is a much higher volume of Australian traders during the Australian session. If you are interested in seeing the times for the different sessions, check out our
Forex Market Hours
page. It can show you exactly when the market for each area around the world opens and closes.
The volume of traders in the market plays a big role in how your trades will play out. If you are using a fast-paced strategies such as a scalping method that requires you to get in and out of the market to capture only a few pips at a time, you want to have plenty of volume. This will provide the broker with plenty of opportunities to fill your orders as needed.
If you are using a long-term trading strategy that aims for large pip targets, you do not necessarily care about how quickly you get your orders filled.
However, if you are using a trend following strategy, you will generally do better when the market is bustling. You want a lot of traders in the market to move it in a certain direction.
Choosing the right time to trade will depend on what type of currency you want to get involved with. Most countries enjoy trading their own currency in a majority of transactions.
For instance, if you want to trade the EUR/GBP, trading during the London session will give you the most volume. If you want to trade the GBP/USD pair, trading during the London session and the New York session will give you the best opportunity for movement.
Keep these factors in mind, the next time you are trying to decide the best Forex trading hours for your strategy.
Return From Forex Trading Hours to Forex Market
Return From Forex Trading Hours to Forex Trading