What are the Best Forex Trading Hours that Will Make You Profit?
November 5, 2009 by admin
Filed under FX Trading Tips
What are the Best Forex Trading Hours that Will Make You Profit?
© GetForexHelp.com
The forex traders have the opportunity to make profits no matter what time and day of the week it is. This is because the fore market is virtually open twenty four hours a day, and seven days a week. Another great advantage for traders is that they do not have to work that long in order to earn money. There are now forex robots, which can be used to simulate the activity for the traders and they can work and make transactions even when they are not in front of the computer. This is one of the many reasons why people become attracted to the offers presented to them in being a forex trader. In addition, the forex market is greater than any other equity markets in the world and with trillions of dollars being transacted every single day here there is no doubt that most people will want to try their luck in this powerful market.
Normally, trading begins from 23:00 on Sunday and stops at 24:00 on Friday. This is based on trading server time. Eastern Standard Time or EST is the time zone for trading in the forex market. Now, for many people the main question is: when is the best time to trade? One thing that one has to remember is that when the other part of the forex activity stops, the other side starts. When it is nighttime in Tokyo and people have to sleep, London is one of the places to trade as it is daytime there.
Everyday, it is expected that the volume of the overall forex trading is highest during the time when the popular markets namely European, US and British are open simultaneously. This specifically happens at one in the afternoon GMT up to four in the afternoon GMT or eight in the morning to eleven AM EST. for most of the experts, the best time to engage in a trading activity is between 8:00 to 16:00 GMT. This is because this is the time when the London market overlaps with the US market particularly during the last five hours. Most traders along with the biggest banks in the world make a trade. Many have proven that this is the most profitable of all forex trading times. On the other hand, traders should avoid trading starting from 5:30 PM to 7:30 PM because the other traders from the rest of the world are just starting. You can begin trading at 8 PM since this is when Japan opens.
Best Forex trading hours – youtube video: