The Best Time to Trade Forex
Forex is a 24 hour market, what’s The Best Time to Day Trade the Forex Market?
The Absolute Best Time To Trade Is From 3 AM TO 11 AM EST.
The New York and London trading sessions overlap between 7 and 11 am EST.
The volatility is much higher and trading opportunities are much more frequent with
bigger moves, especially in these four hours. You can make 30-100 pips
trading in a few minutes or hours, using any of your strategies in any time
frame.
Three major forex trading ‘sessions’ are as follows (Eastern Standard Time):
- New York open 7:00 AM to 4:00 PM
- Japanese/Australian open 7:00 PM to 3:00 AM
- London open 3:00 AM to 11:00 AM
The beginning 3-5 hours of the above mentioned opening times is the best time to trade, The major currency pairs tend to move the most in a particular direction. Especially when there are economic news releases.
The currency pair that moves the most during these hours are the Usd/Chf ,Gbp/Usd, Eur/Usd,Usd/Jpy.
The economic news release is scheduled for 8:30 AM EST. If you are in a
trade at this time, make sure you have your stop loss at a place you are happy with.
The volatility is scary and fast, you can jump in once you see the major trend, usually after the first 5 minutes. Look at a 30 min chart to check the major trend.
Check your local time at http://forex.timezoneconverter.com
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2 Comments on “The Best Time to Trade Forex”
I think emotions can really kill a trader……Control on emotions is the hardest thing and the most important thing in Forex trading.
I agree with anjali…dont get emotional in trading forex or else you’ll be really2 frustrated