Did you miss the active trading hours just because you were ignorant about the perfect timings for trading? Currency trading market is active all through the day, but experts recommend trading only during the most active hours. Why? Because, it is inconvenient to sit beside your workstation and look for profitable trading situations all the time. Forex hours app, lets you explore currency trading platforms during the most profitable times of the day.
Say that you are from India and you are willing to trade currencies. Obviously, since there is a difference in the time horizons, you may have to wait for hours and at odd hours of the day to trade. Thanks to these hours applications, you can keep track of times when you need to act and take appropriate actions.
Advantages of using Forex hours app:
There are various times of the day which is suitable for trading with particular currency pairs depending on the type of currencies you are concerned with. Normally, each of the currency markets is open for about 9 hours daily although trading can even be done at other times. New traders should be thoroughly versed with the different trading times. So if you are from the East, you can opt for Shanghai-Hong Kong or Singapore timings. Western traders might be more interested in Toronto, Chicago or New York trade timings.
Active timings give more chance of winning:
Trading during the active hours of a particular trading region provides more opportunities to win than others. Because it is at these times when market is in full swing and fluctuations are high. Experts recommend using Forex hours app so that every rise or fall in relative prices might be beneficial.
Keep attack of the trading updates during active hours:
There are tons of fundamental factors the result of which is visible only during active hours. For example, if you are trading with JPY/USD and Federal Reserve raises rate of interest, its effect can only be reaped during active hours of trading. New traders should learn the effect of each of these changes.
Avoiding wasting time and energy on inactive hours:
Forex hours app keeps you updated about the trading opportunities during the day when currency transactions are taking place. Although trading can be done 24 hours, the chances are high that your Forex broker trading platform is open only during active hours. You will waste time and energy by keeping track of inactive hours.
Get notified automatically:
One of the advantages of using the hours app is that it notifies you automatically depending on the time horizon you belong to. For example, Tokyo market opens from 1900 hours till 0400 hours. If you are unaware of this fact, you might lose. The automatic notification acts like a reminder which prompts you to start your trading venture for the day.
Gone are those days when you need to rely on traditional methods to take notice of the active trading hours. Electronically controlled applications make no mistake and prompt you to get ready for trading in the nick of time. Miss no opportunities with Forex hours app and trade like a pro.
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.