Interested in trying your luck in making money trading Forex? There are lot of things that you need to learn but don’t let that discourage you. Just remember, if a lot of people can make money Forex trading, you can too. You’ll just have to start somewhere, and Forex Trading Tools Software will aid you in learning the ropes to become a professional Forex trader and a successful one at that. One of the things that you need to know in Forex trading is knowing when to enter a trade and when not to enter a trade. In Forex, this is called knowing the “Forex Trading Hours.”
Forex Trading Hours is defined as the hours in which forex traders are able to exchange, buy, and sell currencies. It is basically the periods of time when banks and brokers are actively trading. Though Forex Market is open 24 hours a day, it’s not open seven days a week. It is, in fact, open only five days a week which starts every Sunday 5 pm EST (10:00 pm GMT), and ends on Friday 5 pm EST (10:00 pm GMT). Also, Forex doesn’t work on holidays, such as Christmas, New Year, and Easter. Which means you can get to rest for two days, essentially on the weekend or perhaps use these two days or every holiday to step back and review your Forex trading strategies, and re-strategize if you think you’re not winning enough or is losing so much.
The international currency market is comprised of a worldwide network of exchanges and brokers around the globe. So, when you enter the trade depends on when Forex trading is open in every participating country:
Forex trading hours:
Trading sessions by EDT (Eastern Daylight Time):
London opens at 3:00 am to 12:00 noon EST (EDT)
New York opens at 8:00 am to 5:00 pm EST (EDT)
Sydney opens at 5:00 pm to 2:00 am EST (EDT)
Tokyo opens at 7:00 pm to 4:00 am EST (EDT)
Trading sessions by GMT (Greenwich Mean Time):
London opens at 8:00 am to 5:00 pm GMT
New York opens at 1:00 pm to 10:00 pm GMT
Sydney opens at 10:00 pm to 7:00 am GMT
Tokyo opens at 12:00 am to 9:00 am GMT
Knowing the Forex trading hours or when exactly to enter a Forex trade is very vital as this will enable any trader to effectively allocate one’s efforts and rationally use one’s time and possibilities. This, in itself, can be considered a basic and easy Forex trading strategy that a newbie can utilize to make money Forex trading.
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