Put text here

Follow us on Twitter | Facebook

Track Your Time In Forex To Increase Profits

One advantage of a foreign exchange market compared to other investment markets is its operating hours. The forex market is open 24 hours everyday for six days in a week while commodities and stock markets are only open for trading from Monday until Friday and during regular business hours only.
But the situation in forex market is different. Even if you feel trading at 3:00 am EST Sunday morning, you can easily put your trade in the market. But even if the market is open 24 hours per day and six times a week, it is still important to know the specific or best time when the market is active and placing a trade is at best.

The forex market may be open round the clock, but the financial centers such as London, New York, Tokyo, Frankfort, and Australia follow their own operating hours that usually start at 8 in the morning and ends at 4 in the afternoon, local time. For example, if the local time in Tokyo is 8:00 a.m. and a Monday, the market of Tokyo will open even if it is already 10:00 in the evening EST, Sunday night. Given this example, it is best to take advantage of the time to trade on the market.

There are many financial centers that are operating around the world and given the situation, it is not surprising that two or more markets might have overlapping hours. For example, the markets of New York and London will overlap starting from 8:00 in the morning until 12:00 in the afternoon, EST. Meanwhile, the overlapping in London and Tokyo market will occur from 3:00 in the morning up until 4:00 the next morning, EST. Sydney market will overlap Tokyo staring from 7:00 in the evening and will end at 2:00 in the morning already. These overlaps in time are actually considered as the best time for trading since liquidity is at its peak. In addition, doing your trade during mid-week and simultaneously trade with London, Tokyo, and New York are also considered as the best time for trading.

But, if there are the best time to trade, remember and do not forget the specific time or day where forex trading is at its low point. Trading on a Sunday, Friday, and during holidays is a bad idea. There is a limited volume of trades that occur during Sundays and holidays while Fridays are said to be unpredictable. Avoid doing your trade in time for the economic reports’ release and do not take the risk of placing your trade between the hours of 6:00 pm until 6:00 pm, EST since there is a low market volume.

Category:
Added: Sunday, February 22, 2009

0 comments for Track Your Time In Forex To Increase Profits

Post comment

Pages (22)123456 Next