Best Hours to Trade in the Forex Market
Forex trading is the interplay of traders who are out to make money by exchanging various foreign currencies. Many people are involved in this industry and earn their living from it.
Trading in foreign exchange takes place five days a week and will go on pretty much all day.
The Forex market hours are those that are appropriate to trade in the various countries of the world where people exchange currencies.
Best Forex Market Hours
Countries around the world have differing best market hours for currency trading. This can be used to one’s advantage in forex trading.
If you are in Europe, for example, the best forex market trading times will be around 2am and 12pm EST. These are the liquid times when there is a lot movement. Generally, up to 200pips move at this time and this can allow traders to make lucrative profits.
In Asia, the best forex trading is certainly from 7pm to 4 am EST.
The US is among the largest of forex markets. American companies will have to be on the alert by 8am and usually until 12pm. This is apparently the same time as the European trading hours. The amount of trades done between 8am and 12pm in America, causes trading to take place ahead of closing schedule in the world. Normally, this goes on until 5pm.
How to Find the Best Forex Hours for You
Local news is one of the best sources of information in finding forex market hours. There are always some highlights in the corporate segment in the newscast that will broadcast the number of trades that have taken place during the day.
Some will also mention if trading was high and if it was really low. This is particularly helpful in making a well-informed decision.
The second way to find out more about the best hours is online. Some sources on the Internet are dedicated to spreading awareness of forex events all over the world. If you have access to these resources, you can definitely use them to learn a lot about the latest trends in the forex market.