Forex trading is, by its very nature, often fairly complex. What’s more, as the market is open 24 hours a day, seven days a week, narrowing down the right period for buying and selling isn’t always cut and dried.
Therefore, it makes sense to look at what seasoned traders have to say. In fact, you only have to look at this fantastic guide from seasoned forex sales expert Adinah Brown to understand where to get started. Effective traders, according to Brown, are those who are motivated, committed and passionate about what they do. This, ultimately, is a great start – but what about narrowing down that crucial ‘best trading hour’?
The main issue with finding the best time slots for forex trading is the fact that different pairs are going to cross over different time zones. Effectively, different currencies and pairs will be stronger at different times of the day due to when certain territories are likely to be most active.
For example, let’s consider when might be best to trade in a GBP/USD pairing. Now, the London markets open at 3am and close at noon EST. The New York market, meanwhile, opens at 8am and closes at 5pm EST.
A little bit of math here will tell us that the most active window – and therefore potentially the best – will be the hours of 8am until noon EST. This is because both British and US markets – the biggest, in any case – will both be extremely active.
Active hours matter because this is when traders are most likely to be on the exchange. When trading from or in the US, you need to consider when your chosen American market opens, and what the crossover point is with other international currencies.
Sometimes, trading between US and international time zones isn’t always possible. For example, the Sydney market opens as soon as the New York market closes. Therefore, you are going to need to look at a different US market so that you get this active crossover.
Ultimately, there are no ‘perfect’ times of the day to trade in USD on forex. However, you can potentially boost your chances of big returns if you stick to these active points. If you don’t, then you will run the risk of losing out on lucrative activity.
Forex trading is impossible to predict perfectly. Ultimately, it is a numbers game and a game that relies on a lot of gut instinct. However, what you can do is make sure to boost your chances by attacking during those big windows.
You may even find that some forex success arises outside of these broadened windows. You never really know how things are going to play out – so do be prepared to carefully research what other traders and experts have to say. Whether you’re into swing trading, complex forex or otherwise, it makes sense to listen to experienced people!
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