Best place to trade forex
One of the biggest plusses best the foreign exchange market offers traders consists of the fact that currencies trade twenty four hours a day, five days a week. This means that you can start trading Sunday afternoon EST and continue trading non stop all the way until Friday afternoon EST. This round the clock trading feature gives traders with workaholic tendencies a perfect market place in which to operate. The reason this opportunity exists has to do with time zones and where markets open in different parts of the world. For example, because the day begins in the Far East, the forex market opens in New Zealand, Australia and Asia first, then Europe and then North America. All times mentioned will be expressed in Eastern Standard Time or EST. The best exchange market opens with the Sydney session at PM EST in Sydney, Australia, although some traders in New Zealand will make prices an hour earlier at their PM open. Wellington then closes at midnight, while Sydney then closes at AM. In other words, when the market in New York closes on Monday at PM, the market in Sydney opens on Tuesday morning in its time zone. This allows many professional forex traders based in New York to pass their order books on to traders based in Sydney for watching at least until the Tokyo opening. Two hours after the Sydney open, the forex market opens in Tokyo The Asian or Tokyo session at PM EST and closes at AM. Singapore and Hong Kong open two hours after Tokyo at PM and close at AM. Interestingly, the final Asian Session trading hour when the London Session opens while the Asian session is closing down, makes up one of the busiest forex trading times. In the European session, Frankfurt opens at AM and closes at AM, while the major London forex trading session opens at AM and closes at AM. East Cost North American markets open in New York at AM and close at PM. Chicago trading is one hour later and California trading is three hours later. At this point, forex trading ends for the week. After the New York close at PM EST, the forex market then gives its participants a weekend break to ponder life. This break runs for the rest of Friday, during all of Saturday and until PM EST on Sunday when the Sydney Session opens. You may have noticed when reading the previous section that at several times of the day more than one market is open at the same time. These overlapping times usually provide the greatest degree of liquidity in certain currency pairs, as well as wider pip range movements. This tends to make these more liquid periods better times to trade, theoretically at least. Basically, since more liquidity and a higher volume of trades will often be more beneficial to the speculative forex trader, certain times when trading is heavier in particular currency pairs can give a trader the edge needed to be profitable. This is especially true for traders using short term strategies like scalping or day trading. This overlap is the key forex trading period when both the New York and London major forex trading centers are open for business. Trade in all the European currencies is heaviest during this period and offers the most liquidity for currency pairs involving the Euro, Pound Sterling and Swiss Franc. Such especially liquid overlapping times would include the important AM to AM period when the major trading centers of New York and London are both open for business. Frankfurt is also open from 8AM until AM. Sydney closes at Forex, while the Tokyo, Hong Kong and Singapore stay open overlapping with Frankfurt and London at AM and AM respectively. This time period usually offers the most liquidity for the Japanese Yen, as well as the European Yen crosses. Another good time to trade in order to take advantage of several different markets being open simultaneously, is between PM and AM as Asian and European markets overlap at different points. The Tokyo, Singapore and Hong Kong forex markets continue trading throughout this overlap period. The Frankfurt and London markets then open at AM and AM respectively, and they then overlap with Singapore and Hong Kong until AM. This is the period during which the New Zealand and Australian markets overlap with the Asian markets of Tokyo, Place and Hong Kong. This time period tends to have the most liquidity for the Australian and New Zealand Dollars and their crosses. Trading in Australia and New Zealand overlaps with Tokyo from PM and then with Singapore and Hong Kong from PM until Midnight when New Zealand closes and AM when Sydney closes. This makes the overlap period from PM until Midnight especially liquid as Australia, New Zealand, Tokyo, Singapore and Hong Best are all open. Between PM and PM, the New York forex market has closed and the only other markets which are open are Chicago until PM and the West Coast offices of certain U. You can also trade into the thinner markets in New Zealand that opens at pm and Australia which opens at PM. This represents a window of time during the trading day, when the market could be thin and so price spreads may widen significantly. Basically, avoiding trading during illiquid time periods and in highly volatile markets can save you money, both in terms of your trading position and in the amount of the bid offer spread you may be quoted for the transaction. Other times which may not be trade advantageous to trade include the Sunday night session, as well as Fridays when the market is looking forward to the weekend and so typically trades counter-trend as positions are squared. Place risky trading time is when important numbers such as U. Non-Farm Payrolls come place. Read more about the non-farm payrolls and implications for the forex market Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance. Please read our legal disclaimer. All times mentioned will be expressed in Eastern Standard Time or EST World Forex Markets Time Table Forex foreign exchange market opens with the Sydney session at PM EST in Sydney, Australia, although some traders in New Zealand will make prices an hour earlier at their PM open. This break runs for the rest of Friday, during all of Saturday and until PM EST on Sunday when the Sydney Session opens Best Times to Trade the Foreign Exchange Market You may have noticed when reading the previous section that at several times of the day trade than one market is open at the same time. This is especially true for traders using short term strategies like scalping or day trading The European-North American Overlap AM to AM This overlap is the key forex trading period when both the New York and London major forex trading centers are open for business.
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