| The three major forex trading 'sessions' are | | | | Daily Trading Sheet, which is provided in the |
| as follows (all in Eastern Standard Time): | | | | Day Trade Forex Advanced course. |
| | | | |
| 1. New York open 7:00 AM to 4:00 PM 2. | | | | This is an interesting forecast site that I |
| Japanese/Australian open 7:00 PM to 3:00 AM | | | | also like: |
| 3. London open 3:00 AM to 11:00 AM | | | | |
| | | | Another place to find out when the world |
| ** Often, the best times to trade is at the | | | | economic news releases are: and scroll down |
| beginning 3-5 hours of the above mentioned | | | | to the bottom of the website for the list of |
| opening times, because the major currency | | | | the current week news releases that impact |
| pairs tend to move the most in a particular | | | | the Forex markets. |
| direction. Especially when there are economic | | | | |
| news releases. | | | | Most often, the economic news release is |
| | | | scheduled for 8:30 AM EST. If you are in a |
| THE ABSOLUTE BEST TIME TO TRADE IS FROM 3 AM | | | | trade at this time, make sure you have your |
| TO 11 AM EST. | | | | stop loss at a place you are happy with. The |
| | | | volatility is scary and fast, but if you |
| The New York and London trading sessions | | | | aren't already in a trade, you can jump in |
| overlap between 7 and 11 am EST. The | | | | once you see the major trend, usually after |
| volatility is much higher and trading | | | | the first 5-15 minutes. Look at a 30 min |
| opportunities are much more frequent with | | | | chart to see the major trend. |
| bigger moves, especially in these four hours. | | | | |
| | | | IMPORTANT NOTE: Most of the forex brokerages |
| The currency pair that moves the most during | | | | have now stopped guaranteeing their stops |
| these hours are the Usd/Chf (#1), then the | | | | during fundamental news release times, as the |
| Gbp/Usd, then the Eur/Usd, then the Usd/Jpy. | | | | volatility is so extreme, that the price can |
| | | | often move faster than their servers can keep |
| This is when you can make 30-100 pips trading | | | | up with. Thus, please be very aware that |
| in just a few minutes or hours, using any of | | | | getting into and out of a trade when you |
| our strategies in any time frame, especially | | | | want, can sometimes be next to impossible. |
| around news releases. | | | | You can possibly encounter several things |
| | | | during news release times: whipsaw of the |
| If you need help in converting EST time zone | | | | price, slippage, freezing of the platform, |
| to your time zone, please use this world time | | | | disconnects, re-quotes of price, loss of |
| zone converter: OR | | | | money, etc. Don't bother calling up any |
| | | | dealing desk to complain, as they are all now |
| DAILY FORECAST WEBSITES | | | | distancing themselves from this problem, and |
| | | | they all have a disclaimer on their websites. |
| First thing in the morning, I go to to check | | | | It is a buyer-beware type of situation. If |
| out some forecasts and news release times for | | | | you choose to play the news, you have to be |
| the day. I always check before I start | | | | aware of it's risks. The rewards can be very |
| trading and I write down the support | | | | great in just a few minutes, or it can go |
| resistance, trend, trading range, target | | | | against you. Make sure that you immediately |
| highs & lows, news release times, etc. on my | | | | put in your stop. |