One of the main benefits of the Forex market is that it is available for trading 24 hours per day and five days a week, as stated above. It allows investors all over the world to trade whenever they are willing to do it during business days. Though they do not need to worry about the fact that the market might be closed, however, not all hours are considered equal to each other.
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It should be stated that there exist periods during the day when volatility comes into play, and on the contrary, there are also hours when the market is almost silent and moving with very low activity and in a tight range. It is obvious that various currency pairs show different market activity over different periods of the day.
People tend to trade and exchange local currencies during their local business time periods. This makes us accept the fact that major trading sessions from the list above are strongly correlated with market hours. Despite the fact that hour opened Forex market gives a certain advantage for many traders, both individual and corporate, there still exist some pitfalls. But at the same time, it is impossible for a trader to monitor his opened positions for these or any other pairs 24 hours a day.
It means that during some Forex trading times some good entry opportunities might be missed. But the worst scenario is when some obstacles may drive the market against opened positions and the trader will not be able to stop it because he is not nearby.
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To reduce or sometimes even eliminate this kind of risk, a trader has to follow the risk management rules or take into account the times when the market has the highest volatility, and probably close the position beforehand or at least to close it partially. Typically, the market is divided into three major sessions which represent the highest trading activity: the Asian, the European and American sessions.
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More familiar will be to split these 3 periods of market activity into Tokyo, London, and New York sessions. These names could be interchanged due to the fact that the mentioned above cities simply represent the major financial capitals for each of the region. The basic point is that markets start being active are going into their local business hours. It is also accompanied by the fact that the majority of banks and other financial institutions start making their daily operations.
The very first session that comes into play after the start of the day is the Asian one the financial centre of which is Tokyo.
This is also the first one that opened after the weekend, therefore traders should pay attention to the market behaviour during it to overview the sentiment according to the events that occurred on Saturdays and Sundays. Trading from this side of the world in terms of volume mainly happens on the Japanese market which trading session is opened between — GMT.
Despite this fact, there are some regions that also add volume. Among them is Singapore and, of course, China that is getting more and more liquid for the last decade and is really becoming a separate financial region with the centre in Shanghai. Usually, the start of the Asian session defines the direction till the start of the London trading session.
The Tokyo trading hours usually do not represent high volatility because of the lower volume in comparison to European and North American sessions that are considered the most liquid. Many traders use it in their trading strategies like mean reversion or calm scalping. This session for the majority of its length overlaps the Asian session because the action takes place in the same world region.
Though the volume is lower than on the Tokyo market, it is also taken into account because Australia is the largest supplier of gold and the Australian Dollar is considered a major pair against USD. Besides gold, there are also other commodities like copper that is traded on the Chicago Mercantile Exchange and is also affected by trading activity during this particular session.
Forex Market Open Indicator for MT4
Though being a separate continent, New Zealand is also referred to the Sydney trading session. This country with its New Zealand Dollar is considered as a strong economy with a large percentage of export activity. Right after the end of Asian and Australian sessions, the European region takes over and large volumes come in.
Last hour of the Tokyo session even overlays the start of London session so there is no drop in the trading activity. The current time zone is very populated in terms of involved countries and therefore involves a number of solid and liquid financial markets. We really had this thought at first that it should have been offered as a default one. Some of the customers who are using this indicator have shared their feedbacks. Do you know the fact that it really affects the outcome of your trades? Whenever a new trading session begins or an active trade session ends there will be a drastic movement recorded in the market, which is almost left unnoticed.
Market Condition The market becomes more volatile during these session overlaps and there can be a trend change or a new trend origins.
Caution For Traders Retail traders need to be more conscious about this and trade carefully during this time as it can be both profitable or total loss. Market Condition There used to be a trend change or a great movement of the corresponding currency pairs during a session open and end. Caution For Traders These trend changes are usually left unnoticed and needs to be handled more precisely as you can earn a lot during this movement.
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Since the Forex market is active 24 hours a day, there are certain intervals where a session starts or ends. Why has MT4 not offered it as one among the default indicators? Major Sessions. Session Timer.
Forex Market Hours - Forex Market Time Converter
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