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