Time zones are a significant segment of trading in Forex. To close deals successfully, traders should be aware of when various markets open and close. This is crucial as the market remains open for 24 hours a day, for five and a half days a week. As all major currency pairs are traded at different hours, trading at any random time is not an option. So, investors who are trading with automated software like metatrader should be aware and use metatrader change time zone.
How to align investment with significant market times?
To make full use of market volatility investors should first chalk out a rough idea of when major markets open for business. Now, in foreign exchange market there are four critical time zones: -
New York trading session- Opens at 1:00 pm and closes at 10:00 pm
London trading session- Active from 8:00 AM till 5:00 PM
Tokyo session- Opens at 11:00 PM and closes by 8:00 AM
Sydney trading session- Operates from 9:00 PM till 6:00 AM
(All timings are as per GMT)
So, you can see that period of activity vary from one market session to another. If you are an investor who uses automated trading systems, you should use MetaTrader change time zone. This will help target your attention towards your preferred currency pairs.
For example, if Marko trades in USD/GBP, then he will like to target his transactions at a time when London and New York sessions are open for business. This will increase his probability to make a profit.
Why should investors keep an eye on trading times?
Maximum profitability on trades can be achieved when market volatility is at its peak. Moreover, this happens when two major markets overlap. By studying daily transactions, one can gauge that there are three major sessions daily when volatility increases and they are -U.S, Asian and European sessions.
So, a keen knowledge on session timings helps investors to line up their trade to coincide with market overlaps.
For instance, if you are a trader dealing in a particular currency pair then to escalate your profit you should align your trades at a time when both your currency markets overlap. You can use MetaTrader change the time zone to keep track of this session window and automate his trade likewise.
Who can benefit from session timings?
Be it a newbie or a veteran investor; it is important for every individual to keep an eye on forex session schedules. This can be done by using the forex clock. Forex clock exhibits the various time sessions in a periodic manner. In simpler words, time sessions of this FX market can be tracked using analysis made from the clock.
Moreover, it helps an investor to decide on his strategies as well. For example, a day trader will seek to escalate his profits from the exquisite market fluctuations that prevail during the overlapping of two sessions. This is only possible if he or she maintains a close eye on the forex clock and uses software like MetaTrader change time zone to enter into trading activities.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.