Forex allows you to trade currencies round the clock. For optimized flow of cash, it is essential to know about important sessions and hours. Read on to find how you can turn the tide in your favour.
Types of Trading Sessions and Hours:
Asian, American and the European are the three types of trading sessions. And, the four variants of Forex trading hours in EST include New York (8:00 A.M. - 5:00 P.M.), Tokyo (7:00 P.M. - 4: 00 A.M.), Sydney (5:00 PM- 2:00 AM) and London (3:00AM - 12:00 P.M.). What we observe is the Forex markets are not open round-the-clock but available for trade in morning until next morning time slot.
The market hours chosen by traders depend on their individual trading styles, currency pairs and the market rise and fall. For day trading, European and American sessions are the best bet, while Asian session is good for overnight trading.
Hence, if you work exclusively for intraday sessions, then you should definitely choose European (Sydney) and American (New York) sessions. Meanwhile, Asian session (Tokyo) can be fleeced for more profits during the night.
Which market hours to trade?
To derive more profits, it is natural to enter markets when trading volume is higher. During such sessions, only a few countries are trading at a single time. Often, referred as the overlapped Forex trading hours, the market is at its peak of activity and the chances of earning a fat profit is high.
So what constitutes the overlapped conditions? If you trade GBP/USD, USD/CHF or EUR/USD, the best hours to capture maximum profits is between 8:00 A.M. to 12:00 PM EST, as London and New York markets overlap.
Another productive period is between 1:00 - 3:00 A.M.EST. It is when London, Tokyo and Sydney markets are active.
For those who actively seek Asian and Australian markets in addition to other options, should trade during 7:00 - 10:00 P.M. slot. pm to 10 pm are special for those who work with Asian and Australian markets. Another overlap is happening in those Forex trading hours, so - another opportunity to raise your trades.
Thus, knowing the best possible trading hours and sessions in a day will enable you to transact in Forex with different currencies, increasing nothing but only profits.
The Secret of Professional Traders:
The profitable market hours and sessions may sound a little weary for your schedule. Nevertheless, with automated Forex trading system you can enter markets and place trades, even when you are away from your desk. Today, electronic trading is the latest buzzword, and professional traders use it immensely to earn larger profits.
The high end trading system employs artificial intelligence to gauge the market conditions and select the most profitable trading options. This method is far better than traditional strategies that fail to perform, eventually.
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