By :
Cedric Welsch
Having a forex account allows you to enjoy trading major currencies 24 hours starting from Sunday afternoon to Friday Afternoon Eastern Standard Time (EST). At least one financial center is open during the entire 24 hours of every trading day. While the markets on the other side of the planet close, the markets on the opposite side open. At certain times of the day, forex trading hours overlap, hence keeping the market always open for business. Although the market is practically open 24 hours a day, there are certain hours that provide better opportunities to earn profit from trades. However, there is no restriction as to when to trade. That is up to the trader's discretion. Just remember that in order to gain better profit, you need to trade at peak hours when more countries are participating in the foreign exchange trading. Best Hours To TradeIt is best to trade when the market has more participants. During peak hours, traders have better chances of gaining profit. To determine these times, chart the trading hours of major financial centers and check what times they overlap. In every country, trading hours start from 8am to 4pm. When several countries are participating in the trading scenario at the same time, the currency charts are more active instead of stagnant. When more financial trading hours overlap, there is a bigger chance of pip movement. Keep in mind that the difference in pips determines the amount of profit you earn from every trade. In addition, make sure not to trade during off-peak hours, or those times when only a single major financial center is open for business. Forex Trading Hours Per LocationTrading starts with Sydney, Australia, then Tokyo, Japan, then London, UK and finally New York, US in that order. Trading hours in Sydney start from 5pm to 2am EST. Tokyo starts from 7pm to 4am EST. London starts from 3am to 12am. New York starts from 8am to 4pm. From the information above, Sydney and Tokyo trading hours overlap from 7pm to 2am. London and Tokyo trading hours overlap from 3am to 4am. London and New York trading hours overlap from 8am to 12pm.During 8am to 12pm, it is best to trade European and American currencies because both major financial areas in those areas are open. Hence, if you are speculating on GBP/USD, EUR/USD, or USD/CHF, you have better trading opportunities during those hours.
Author Resource:-
The forex market is indeed a very dangerous business for the common folk. Before you even think of plunging in the forex trading world, do serious studying first.
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