Recently while broswing, i found a cool website called forexmarkethours.com. A very simple forex website with information such as money management, fibonacci method, fundamental analysis, trend lines and of course forex market hours. I’ve downloaded their application called Market Hours Monitor. It’s a cool stuff. You can basically select your time zone and you will know when to trade at the most active time. Here’s a quote from forexmarkethours.com;
“The best time to trade is when the market is the most active and therefore has the biggest volume of trades. More active currency moves will create a good chance to catch the trade and make some profit. A calm, slow market is literally wasting of time — turn off your computer and don’t even bother!” –> I totally agree!!!
Forex trading hours, trading time:
New York opens 8:00 am to 5:00 pm EST
Tokyo opens 7:00 pm to 4:00 am EST
Sydney opens 5:00 pm to 2:00 am EST
London opens 3:00 am to 12:00 noon EST
And so, there are hours when two sessions are overlapped:
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
For example, trading EUR/USD, GBP/USD currency pairs would give good results between 8:00 am and 12:00 noon EST when two markets for those currencies are active.
At those overlapping trading hours you’ll find the highest volume of trades and therefore more chances to win in the foreign currency exchange market.
You can click here to open the application in new window or you can download it here or visit this cool site at http://www.forexmarkethours.com
p/s: GMT +8.00 is shared together with irkutsk, Ulaan Bataar..heck! i don’t even know where is that!
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