What are the best hours for Forex trading?
Forex is a highly dynamic market with lots of price oscillations in a single minute, this characteristic of the Forex market allows traders to enter the market many times a day and pull some profit from these number of trades. If you want to find an appreciable number of profitable trades you need to enter the forex market at the best period of time, i.e., when the activity, the volume of transactions, is the highest.
The main timing characteristics of the Forex market are the following:
* Forex is 24 hour market – It starts from Sunday 5pm EST through Friday 4pm EST. Rollover at 5pm EST
* Forex Trading begins in New Zealand, followed by Australia, Asia, the Middle East, Europe, and America
* The US & UK account for more than 50% of the market transactions
* Forex Major markets: London, New York, Tokyo
* Nearly two-thirds of NY activity occurs in the morning hours while European markets are open.
* Forex Trading activity is heaviest when major markets overlap.
Posted on 22nd May 2008
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