The forex market is the largest financial market in the world. It trades around $1.5 trillion per day. With currencies being traded 24 hours a day from 5 pm EST (Eastern Standard Time) on Sunday to 4pm EST Friday afternoon, forex traders are able to enter the market several times a day, 5 days a week and pull some profit out of the trades available. These 24-hour trading activity is due to the fact that currencies are in high demand as it done worldwide. With so many financial centers all through out the globe, there is always one or two amongst them is open for business because as some markets close for the night, others open somewhere else on the planet by day.
Although, forex trading is a 24-hour activity, there are certain hours to look out for where trading currency can be at its best. This is when trading provides better opportunities with potentially greater profit. This is a very important factor for a trader to know because in this world, there are two things that you’ll expect to happen: its either you lose or gain; you’ll have a better trade or not; perhaps, trade or rather not trade for that certain period. So, what are the most suitable forex trading hours?
Usually, the best time to enter forex markets is when large volumes of currencies are traded. This are the times when several countries across the globe are trading simultaneously. To explain these further let’s have a breakdown of all OPEN Market Times for your reference:
* New York Market trade times: 8am-4pm EST
* London Market trade times: 2am-12Noon EST
* Great Britain Market trade times: 3am-11am EST
* Tokyo Market trade times: 8pm-4am EST
* Australia Market trade times: 7pm-3am EST
In each time zone across the world, forex markets operate from 8 am to 4 pm. Now, referring to the above open market times, you will notice that two of the major markets overlap twice during trading hours; between 2am and 4am EST (Asian/European) and between 8am to 12pm EST(European/N. American). When forex market hours in different countries overlap, large volumes of trades takes place. So, as a wise trader, inorder for you to find a great number of profitable trades, take advantage of these peak hours. On the other hand, when markets are slow, you better off decline trading.
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