When is the best time to trade in Forex? The best trading hours in Forex
Along with all the terms and training you get to enter the forex market and succeed in trading, knowing the best time to trade in the forex market is another issue that you must know about. For this reason, in this article, Zand Traders introduces you to the best trading hours in Forex. Please stay with us.
Knowing the best time to trade in Forex
As you know, the forex market is based on the buying and selling of currency pairs in the world, and because this big market is a global market, the forex market is open 24 hours a day, 5 days a week. The forex market is closed on Saturdays and Sundays.
The reason why the forex market is closed on Saturday and Sunday is that these two days are closed for the countries where the values are in the forex market.
Due to the fact that various currencies are traded in the forex market, the currency price of each country plays a decisive role in forex transactions. The price of currency in each country is determined by the influence of the banks of that country and these prices are variable. Therefore, during the opening hours of banks in different countries, they determine the currency price on that day.
The most important countries in the forex market are the United States and Australia, and as soon as the working day of these countries begins, the price of the American dollar is determined first, and then the price of the Australian dollar is determined.
Up to this part of the article, we have introduced you the most important points to determine the best time to trade in forex. In the following, we will mention other things so that Iranian traders wil know when are the best trading hours in forex for Iranians.
The best trading hours in Forex for Iranians
We said earlier that the forex market is 24 hours; but this does not mean that it is correct to conduct transactions every 24 hours, and according to the specific geographical region of each country, the best trading time in forex is different from another country.
Generally, the Forex market has a starting point and an ending point. The starting point of the forex market is the start of work in the Australian market and the end point is the closing time of the market in New York, USA.
This starting point and end point will be 1:30 AM to 1:30 AM the next day.
In addition to the American and Australian stock markets, the Japanese and British stock markets are also very important markets, whose working hours, according to Tehran time, have been brought to you below.
-New York Stock Market: 16:30 pm to 1:30 am
-Sydney Stock Market in Australia: 1:30 am to 10:30 am
-Tokyo Stock Market, Japan: 3:30 am to 12:30 pm
-London Stock Market: 11:30 a.m. to 8:30 pm
Note that the origin time of the forex market is calculated based on Greenwich Mean Time or the Eastern European Time Zone.
But only knowing the working hours of the forex market is not enough to recognize the best time to trade in forex, and there are other important factors that influence the best trading hours in forex. In the following, we have mentioned those factors. Stay with us.
The most important factors determining the best time to trade in Forex
Volume of transactions: the hours when the volume of transactions in forex is high, the prices are closer to the real number, and the transaction is more logical during these hours.
Trader’s trading strategy: If your trading strategy is medium or long term, it is better to trade with real prices; That is, during the hours when the volume of transactions in the forex market is high.
The type of currency pair you intend to trade: You should pay attention to the point at which the market for those currency pairs is supposed to open.
Paying attention to the news: To be successful in the forex market, you must regularly follow the news. Usually, the most important news is published before the American stock market opens.
Peace of mind of the trader: Pay enough attention to this very important point that you should trade during the hours of the market when you are psychologically at ease and can make the best decision.
A final word about the best time to trade in Forex
Considering that the working hours of the forex market are from 1:30 am to 1:30 am in the next day, and during these hours, the volume of transactions is high when Iranians are engaged in their main work, it is the best time to trade. In forex for Iranians, it is between 4 pm and 9 pm. During these hours, you can achieve more success and the probability of your failure will be minimized.
Thank you for your constant support. Be successful and profitable