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.
From this timing facts, it is quite visible that at any given time, somebody somewhere in the world is buying and selling currencies. As one market closes, another market opens. Business hours overlap, and the exchange continues as day becomes night and night becomes day.
And these are the trading hours you must target in order to find the highest possible amount of profitable trades.
This is the breakdown of 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
