Are there most profitable hours for trading? Every minute in Forex counts
I bet all of you once asked yourself if regular job is enough for you, I bet all of you once thought of extra money you can get. And how to get it. If so, it may be the time for you to enter the financial market. One kind of financial market that made a lot of people earn a lot of money is Forex.
Besides the fact that Forex can give you an opportunity to earn a lot of money, you should also know that it is the largest and the most liquid financial market in the world with trade exchanges that amounts up to trillions of dollars each day. Forex operates 24 hours a day and therefore making it the most liquid market in the world. However, it is also a very risky market. Apart from the fact that it made lots of people rich, it also made a bunch of people poor.
Therefore, think twice before entering it, evaluate how much knowledge and how many useful skills you have for it. A part of the knowledge that you should know is the best time you should enter this very liquid and very large market.
You surely know how to trade, you know what currency pairs to trade, and you even know how to read charts. Perhaps, you also know one or two strategy when trading in the Forex market. However, you should also consider the fact that because the Forex market operates 24 hours a day, you need to know When you should trade.
Every minute in the Forex market counts. One minute you notice a currency is increasing in value, the next you notice that the same kind of currency you noticed a minute ago is decreasing in value. This is why you should consider the fact that the Forex market is very dynamic, with lots of price oscillations.
Minute by minute events are very important in order for you to be successful. Because of this feature that is found in the Forex market, you, as a Forex trader, can enter the market a number of times a day. This will allow you to earn some profits after every number of trades you do and perhaps maybe even lose one if you made the wrong trading decision.
Firstly, you have to remember the schedule: the Forex market starts on Sunday at 5PM EST and finishes on Friday at 4PM EST, then it beings again at 5PM EST. Trading begins in New Zealand, then in Australia, followed by Asia, Middle East, Europe and finally ends in America. The major markets in Forex are London, Tokyo and New York with trading activities the heaviest when major markets overlap.
Depending on time, you will see that there will always be someone anywhere in the world who is buying and selling currencies. You will see that when one market closes, another market opens. Trading in the Forex market is 24 hours a day.
Forex market transaction volume is always high during the whole day. However, it peaks the highest when the Asian market, the European market and the US market opens at the same time.
These are the trading hours in the Forex market during which you should trade in order to get the highest possible deals. These are the hours that are also the most profitable:
Here are the open market times that you can use as reference:
- New York – 8am to 4pm EST
- London – 2am to 12noon EST
- Great Britain – 3am to 11am EST
- Tokyo – 8pm to 4am EST
- Australia – 7pm to 3am EST
If you examine the schedule, you will see that there are two instances where two of the major markets overlap on trading hours. These are between 2am and 4am EST at the Asian and European markets and 8am to 12pm EST at the European and North American ones.
If you take it all into account, you can be sure that you can earn a potentially higher profit than on other trading times.
