Forex trading is accessible to everybody 24 hours, providing much convenience to forex traders. So forex beginners tend to operate forex trading whenever they want to. However, forex trading is like the sun, running 24 hours a day but is not able to give equal sunlight to people in different time. Forex trading has its peak time as well as sluggish time for forex traders. In peak time, forex trading volume goes up and in sluggish hour, turnover volume may go down comparatively. So when is the best time for forex trading? Forex traders may have a better understanding after reading what I will state below.
In order to choose the best time for forex trading, it is imperative to know the opening time and closing time of every market worldwide for forex trading. Only by knowing these, can forex traders decide the best forex trading time. The following is the forex trading session worldwide according to Greenwich Mean Time (GMT) and Eastern Standard Time (EST)
Region
|
City
|
Open (GMT)
|
Close (GMT)
|
Europe
|
London
|
8:00 am
|
5:00 pm
|
Frankfurt
|
7:00 am
|
4:00 pm
| |
America
|
New York
|
1:00 pm
|
10:00 pm
|
Chicago
|
2:00 pm
|
11:00 pm
| |
Asia
|
Tokyo
|
midnight
|
9:00 am
|
Hong Kong
|
1:00 am
|
10:00 am
| |
Pacific
|
Sydney
|
10:00 pm
|
7:00 am
|
Wellington
|
10:00 pm
|
6:00 am
|
Region
|
City
|
Open (EST)
|
Close (EST)
|
Europe
|
London
|
3:00 am
|
12:00 noon
|
Frankfurt
|
2:00 am
|
11:00 am
| |
America
|
New York
|
8:00 am
|
5:00 pm
|
Chicago
|
9:00 am
|
6:00 pm
| |
Asia
|
Tokyo
|
7:00 pm
|
4:00 am
|
Hong Kong
|
8:00 pm
|
5:00 am
| |
Pacific
|
Sydney
|
5:00 pm
|
2:00 am
|
Wellington
|
5:00 pm
|
1:00 am
|
From the chart above, we can see that every market except Wellington opens for 9 hours. And so, there are hours when two sessions are overlapped, for example:
New York and London: 8:00 am — 12:00 noon EST
Sydney / Tokyo: 7:00 pm — 2:00 am EST
London / Tokyo: 3:00 am — 4:00am EST
From the overlapped time, it is not hard to understand that trading EUR/USD, GBP/USD and USD/CHF currency pairs would be more likely to get profit between 8:00 am and 12:00 noon EST when two markets for those currencies are active. The Asian forex session might be the best forex trading time for forex traders, if they were trading AUD/JPY. In total, when is the best timing for forex trading depends on what currency pairs forex traders are trading. According to the currency pairs they hold, forex traders are able to choose the peak time in forex trading. By the way, some days of a week are busier than the others generally; for example, turnover on Tuesdays and Wednesdays are much bigger than the other days of a week and trading volume on every Friday normally hit the lowest of a week.
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