How to find the best moment for trading within a day? Trade according to sessions. It's not a secret that trading results depend on the session when the trade is executed, as well as the strategy choice derives from the characteristics of particular Forex market hours.
Do you know how many trading sessions are there in the world and which are the best for your trading? Let's find it out all you need to know about popular Forex trading hours.
Main article sections:
- Major trading sessions
- What's the Asian (Tokyo) trading session and why trading it
- The key characteristics of the Asian session
- A two-step strategy for the Asian session
Major Forex trading sessions
What hours does Forex work? The greatest thing about Forex is that the market is open 24-hours a day, 5 days a week, that gives traders plenty of opportunities to make a profit all week long (between 22:00 GMT Sunday – 22:00 GMT Friday) from anywhere in the world.
What are the major trading sessions?
*Please notice that official session starting time is quite subjective and time frames can vary insignificantly.
Every session has it's open and close time when it begins or ends. Usually, the open and close time for each session varies according to location and the time zones. Sometimes, it also varies according to seasons, because of seasonal daylight saving time (DST).
For example, the New York session is the hours when all state and commercial organizations in NY start their work, in accordance with winter and summer DST.
Fortunately, there is no need to keep all these conditions in mind, since there are plenty of Forex market time converters available online, like www.worldtimebuddy.com, which can give you actual and precise information about the time zone you are interested in. You can add a few time zones into the chart, and see time at all zones simultaneously, which is very convenient.