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One of the benefits of online currency trading in the Forex market is that someone is always trading. Forex online training can help you make the most of this fact.
Unlike the stock market with its opening and closing bell, the Forex market is constantly doing business 24 hours a day. Because it is an international market, the action follows the sun around the globe. The key is to understand the hours of operation, the most profitable times to trade, and the times that you are best prepared to trade.
The action of the Forex market is housed in centers around the world with the main locations being New York, London, and Tokyo. Sydney, Singapore and Hong Kong are among the other important cities. As trading comes to a halt on weekends, the hours of operation are, in EST, from 5 pm Sunday to 4 pm on Friday. Although the market may be open 24 hours, the profitable trading times are not. The best times to trade are when the main locations, especially those related to the currency you are trading, are open. Most of the action occurs in the brief periods of overlap between trading centers.
For someone running on Eastern Standard Time the business hours of the three major hubs are as follows:
•Tokyo is open from 7pm to 4am.
•London is open from 3am to 12 Noon.
•New York City is open from 8am to 5 pm.
Therefore, if you wanted to trade during overlap hours you would want from 3 am to 4 am when London and Tokyo overlap and from 8 am to 12 noon when London and New York City are both doing business.
It’s also important to consider when you should personally do your trading. You’ll want to be at your best for the quick decisions that currency trading requires. This is why Forex online training is so critical.
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