Forex, short for foreign exchange, is the largest and most liquid financial market in the world. It operates 24 hours a day, five days a week. Forex trading involves buying and selling of currencies from around the world. The market is open from Sunday evening to Friday evening, and during this time, traders can make trades at any time.
The forex market is divided into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. These sessions overlap each other, creating a continuous trading session. This means that the forex market is always open, except on weekends and public holidays.
The daily hour starts at 5:00 pm EST, which is the time when the New York session opens. This is considered the official start of the trading day because it is the time when the most significant financial centers in the world are open. The opening of the New York session is a crucial time for traders because it is the time when the market is most active.
Traders who are based in other time zones should adjust their trading schedules to match the New York session start time. For example, traders in London should start trading at 10:00 pm, and traders in Sydney should start trading at 7:00 am.
The New York session is the most significant forex trading session because it overlaps with the London session, which is the second most active trading session. The overlap between the two sessions creates a lot of volatility in the market, which provides traders with many opportunities to make profits.
The London session opens at 3:00 am EST and closes at 12:00 pm EST. During this time, traders focus on trading the Euro and the British Pound. The London session is also the time when economic news releases from the Eurozone and the UK are released, which can cause significant movements in the market.
The Tokyo session opens at 7:00 pm EST and closes at 4:00 am EST. During this time, traders focus on trading the Japanese Yen. The Tokyo session is also the time when economic news releases from Japan are released, which can cause significant movements in the market.
The Sydney session opens at 5:00 pm EST and closes at 2:00 am EST. During this time, traders focus on trading the Australian Dollar and the New Zealand Dollar. The Sydney session is also the time when economic news releases from Australia and New Zealand are released, which can cause significant movements in the market.
In conclusion, the daily hour for forex trading starts at 5:00 pm EST, which is the time when the New York session opens. Traders should adjust their trading schedules to match the New York session start time, regardless of their time zone. The New York session is the most significant trading session because it overlaps with the London session, which is the second most active trading session. The forex market is open 24 hours a day, five days a week, providing traders with many opportunities to make profits.
