Perfect time to invest on Forex Trading to make Profit!

Knowing the timing of forex trading is very important. Because, if we want to work in the forex market, we need to have a proper idea about its schedule. You need to know that forex market is open 5 days in a week. Therefore, we need to have a proper understanding of the timing of the forex market.

For example, suppose you do office work, but you have no idea about office hours, so how do you do office work properly? Similarly, if we want to do trading, we have to have a proper idea about the time of forex trading. In today's post I will discuss with you the timing of forex trading in detail. So let's get started.

Forex market

The short form of Foreign Exchange is Forex (FX), which is the largest financial market in the world. Now the question may be how big? The world's largest stock market (share market) is the New York Stock Exchange (NYSE) where approximately $22.4 billion is traded daily. And approximately $5.3 trillion is traded in the forex market every day.

Did you understand something? Forex market is the largest foreign exchange market in the world which cannot be controlled by anyone alone. Due to this, this market is recognized as a very popular investment medium internationally.

Why Trade Forex?

I said this market is a very risky market. So the question is why this huge amount of people are trading in this market every day? And why is it the world's largest trading platform? There is definitely some advantage here If not, why would so many people trade with risk? Forex trading has some advantages that you won't find anywhere else.

What is needed to trade forex?

As a new trader, you might wonder what it takes to trade Forex. Actually the matter is much simpler. In a word, you can move the Forex market in your pocket. Wondering? You can start forex trading only if you have a smartphone and it requires an internet connection. Also, if you have your own computer then you can trade forex very easily.

Income from forex market

The simple answer is by buying/selling You can profit by trading a specific currency pair. For example, a shopkeeper - buys a product at a low price and sells it to you at a slightly higher price. Almost everything is traded in the forex market, but the largest volume is the currency pair trade. Profit can be made by trading one currency against another.

Some qualities of a successful trader

As easy as it is to profit from the forex market, it is more difficult to maintain your investment amount. To be an efficient trader you must follow certain rules. Patience, willpower and profit mentality are the first prerequisites.

Introduction to Forex Charts

There are 3 types of charts available in the forex trading terminal. Now we will learn how to interpret these three types of charts. As a newbie this chart may not be clear to you.

Line chart

bar chart

Candlestick chart

During forex trading

Before scheduling forex trading we should look at the 24 hours of the forex market. The forex market has a total of 4 major trading hours. These are,

Sydney session

Tokyo session

London session

New York session

Each trading time opens and closes during their respective local business hours. Two separate trading sessions are opened at a specific time in each trading session. In Summer time from 3:00-4:00 am EDT, the Tokyo session and the London session cross each other and in Summer and winter from 8:00 am-12:00 pm ET, the London session and the New York session cross each other.

This time is the busiest time of the entire trading session because during this time the transactions of 2 trading sessions happen simultaneously due to which the market trade movement is very high.

Tokyo Market session

During Forex Trading in Tokyo Market Session – Japan's economy is highly dependent on export trade. Along with Japan, the Chinese economy is heavily dependent on exports. Because of this, Toky Session has the highest number of transactions. Besides, commercial companies (exporters) and central banks do the most transactions in Tokyo Session. News of Australia, New Zealand, and Japan are released in Tokyo session, so the best opportunity is to do NEWS Trade in this session, also good movement of Japanese YEN can be observed at this time because a lot of Yen is exchanged for business reasons.

London Session

During Forex trading in London Session – it is best to trade Major Currency pairs (EUR/USD, GBP/USD, USD/JPY, and USD/CHF). Because their spread is very low and these pairs are directly affected by the news of the European session. Also, you can trade in cross currency pairs (EUR/JPY and GBP/JPY) as these pairs have a lot of movement.

New York Session

During Forex Trading in New York Session – On Friday, there is no market movement at all between the New York Session. Because, Asian traders and European traders stopped trading in the market. Approximately 85% of traders deal directly with dollars ($). Because of this, when large U.S. There is a lot of market movement when economic data is released. Most economic events are released just before the start of the New York session.

Conclusion

If we want to do forex trading, we need to have a proper understanding of forex trading time. If you want to trade by understanding the market, it is very important to have an idea about the trading time. In today's forex trading time post, I have discussed the trading time in detail with you.