When Are The Best Times to Trade Forex?

If you are a Forex trader, it is important to have some sort of Forex trading schedule in place by sussing out when the best times to trade are. Even though Forex is a 24 hour trading platform, different countries trade at different times so there are different trading sessions throughout the day. Below is some advice as how it all works and when the best times to trade are. So when are the best times to trade forex?

Best times to trade forex

Forex Trading sessions with different characteristics:

The various trading sessions have their own unique characteristics as they are driven by the economies that are active. For example, there will be higher volumes of currency being traded when a particular country is open for business.

Structuring of Trading Sessions:

Forex trading sessions are very dependent on your location in the world. There aren’t really any open trading sessions on the weekend and trading starts when the Sydney session opens at the beginning of the week and finishes when the New York session closes at the end of the week. Remember to keep in mind the time zone you are in so you are aware of all time differences.

Overview of the Trading Markets:

• New York: open 8am to 5pm. This very large trading platform is extremely well watched by foreign investors as the U.S Dollar is involved in most trades.
• Sydney: Open 5pm to 2pm, it is the smallest of the main markets but it is usually very busy when the markets reopen on a Sunday afternoon.
• Tokyo: Open 7pm to am, Tokyo was the first Asian trading center to open and it takes in most of Asian trading. USD/JPY is generally known as a good pair to watch when the Tokyo market is the only market open because of the heavy influence which the Bank of Japan has over the market.
• London: Open 3am until noon, London is the main component of the United Kingdom which dominates the currency markets. It is known as the trading capital of the world and has a big impact on currency fluctuations.

If you are wanting to trade Forex, use LikeMoney’s comparative platform to help you find the best forex trading platform possible based on your friends’ likes and recommendations.

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