Forex Market Hours and The 3 Major Trading Sessions:
The Foreign exchange is a 24 hours market; it opens on Sunday night (5 PM EST) and closes on Friday afternoon (4PM EST) - open 5 and a half days a week.
However, even though the Foreign exchange market is open 24 hours a day, as a trader you need to realize that certain times of day are more suitable for trading than others in order to devise an effective and time-efficient Currency trading strategy.
To maximize the number of trading opportunities during these Forex Trading sessions, it is important to be aware of the times when the market is busiest. This is the time that most currency transaction activity occurs.
Even though there is no official open and close time during the week, it can be broken up into 3 major trading sessions - Tokyo, London and New York sessions.
However, although it seems not to be very important at the beginning, the right time to trade is one of the most crucial points required to be a successful Forex trader.
The best time to trade is when the market is most active and therefore has the biggest volume of trades. A more active market creates a good chance to trade and make some profit while a calm and slow market is literally a waste of time.
Not all the times are suitable for trading Forex, that's because the volatility changes too much during the 24 hours. Below is a table outlining the schedule of Forex Market Hours. The time used is GMT 0
Forex trading sessions :
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