Knowing when to trade is one of the most crucial aspects for any FX trader. Though much of these know-hows come the more one practices in market situations, there are Forex market hours software which can help them determine those crucial trading sessions.
There are numerous traders who make use of such technical tools as they feel that it is one way to know that they are targeting the right kind of market. But with so many around, how does one find a good market hour tool? Follow the steps closely:
1. Look For A Tool Which Has A Minimalistic Design:
As a starter to FX trading, one should always seek for software which hosts a minimalistic appearance. The market hour’s tool should consist of a clean interface. Even if someone has not used it for the first time, they should not have any issues in knowing different trading sessions. In simple words, one should be able to keep track of all those trading sessions with minimal fuss.
This is the first feature which one has to check for when looking for quality Forex market hours software.
2. Monitors Active Market Sessions Properly:
For every trader is it important to know which are the sessions which are active and holds the most amount of profits a.k.a liquidity. Since such market hour software proves to be the ideal answer, one should choose one which displays all those active or rather high liquidity sessions clearly.
3. Helps Determine Open and Close Times of Sessions:
One of the most crucial aspects to check when looking for top FX market-hours software is seeing if they depict the opening and closing sessions comprehensively. This is applicable for both Summer as well as Winter seasons.
Whether it’s the opening /closing time of the Asian trade session or start/end of the New York session during winters- everything should be clearly depicted.
4. Time adjustability:
Another important thing for new traders choosing their market hour software is checking if time adjustability feature is present. Those having good user feedback will always have a convertor which changes market hours from EST to GMT or vice-versa.
As soon as the adjusting is done, these trading software will point out those active sessions with their pre-set color for easily distinguishability.
Also check for Smartphone compatibility:
Along with these aspects, one also needs to check if their chosen software is compatible with popular smartphone operating systems. The best will always offer adequate compatibility with Windows, iOS and Android smart devices.
Where to start looking?
- Go through online reviews:
Going through online reviews is surely one great way to find out top-notch FX market hours software. With so many user feedbacks, one will get a fair idea about how good a software program actually is.
- Refer to Forex Forums:
Apart from that, one can also check at Forex forums. Along with names, there are many traders who share download links of Forex market times software. The best thing being, most of those software names are free of cost.
Do make use of these details when choosing reliable Forex market hours software. The task will surely simplify a great deal.
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.