Introduction.
The forex market is the largest and most liquid market in the world, with 1.3 trillion dollars changing hands every single day. In order for a trader to make money, they need to be able to predict when markets will rise or fall, and then execute trades at those times.
The main reason you want to know which session your trade falls into is because you want to plan ahead and trade during these high volume sessions.
Top Forex trading sessions.
The Forex trading session is an important event in the forex market. It is a period where banks and institutions trade currencies, bonds, and other financial instruments. The forex trading sessions are held on a regular basis throughout the day and could last anywhere from a few minutes to several hours or even days at a time.
We have 3 main sessions namely:
The Asian Session refers to the time when the forex market in Asian opens for business on any business day.
The London Session refers to the time when the forex market in London opens for business on any business day.
The New York session refers to the time when the forex market in New York opens for business on any business day.
These sessions will differ depending on your time zone. Here is a tool I recommend every trader should be using.
Forex Time Zone Converter.
The Forex Market Time Converter displays "Open" or "Closed" in the Status column to indicate the current state of each global Market Center. However, just because you can trade the market any time of the day or night doesn't necessarily mean that you should. Most successful day traders understand that more trades are successful if conducted when market activity is high and that it is best to avoid times when trading is light.
Here are some tips for using the Forex Market Time Converter:
Concentrate your trading activity during the trading hours for the three largest Market Centers: London, New York, and Tokyo.
Most market activity will occur when one of these three markets open.
Some of the most active market times will occur when two or more Market Centers are open at the same time. The Forex Market Time Converter will clearly indicate when two or more markets are open by displaying multiple green "Open" indicators in the Status column.
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