What is the best time of day to trade in forex in india?

What is Forex trading?

Forex market is such a type of market where the currency of one country exchange with the currency of another country, it is globally decentralized or simply called an over-the-counter market for fiat currency trading. forex trading includes all things like buying, selling, and exchanging of currency, and it is responsible for determining the current rates of every currency.

Trading in forex is not a Child's game, as we know that it is the world's largest market where every day more than 5.1 trillion transactions occur. it is open 24 hr and 5 days in a week, and it is not equally important for traders, that's why today I decide to explain what is the best daytime to trade in forex in India or globally. So without killing your time let read...

Best time of day to trade in forex

The Forex Markets Hours of trading

As earlier in the above article we see that the forex market is open for 24 hr and 5 days of the week, Here we see in detail, Keep in your mind please here we talk Hours in Eastern standard time or EST.

1.New York

New York is the state of the united state of America and it is the world second-largest forex platform in the world that open 8 a.m to 5 p.m. It is most popular and heavily watched by foreign investors because the U.S dollar involves almost 90% of all forex traders. 

Fluctuations in the NYSE  have an immediate and powerful effect on the dollar price, Whenever companies merge and acquisitions are in finalized, The dollar rate can be gain or lost instantly

So what is the best time to trade in New York?

The best time of the day to trade in forex is affected by the volume and activity of foreign traders and we know most of the forex volume trade between 6 pm to 9 pm evening. so if want to make a huge profit try to trade at this time. 
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2.Tokyo

Tokyo capital of Japan and it is the first Asian trading center to open, Tokio forex market opens from 7 p.m to 4 a.m. it is one of the trading places where the largest bulk of Asian trading occurs after Tokyo Hongkong and Singapore ranked.

The most active currency pair trade in this platform is USD/JPY, GBP/CHF, GBP/JPY, USD/JPY. The USD/JPY is an especially good pair to watch when the Tokyo market is the only one open, because of the heavy influence the Bank of Japan (Japan's central bank) has over the market.


3.Sydney

Sydney, Australia (open 5 p.m. to 2 a.m.) is where the trading day officially begins. While it is the smallest of the mega-markets, it sees a lot of initial action when the markets reopen on Sunday afternoon because individual traders and financial institutions are trying to regroup after the long pause since Friday afternoon.

4.London

London, Great Britain (open 3 a.m. to noon): The United Kingdom (U.K.) dominates the currency markets worldwide, and London is its main component. London, the central trading capital of the world, accounts for roughly 43% of global trading, according to a report by BIS.3 The city also has a big impact on currency fluctuations because Britain's central bank, the Bank of England, which sets interest rates and controls the monetary policy of the GBP, has its headquarters in London.

Forex trends often originate in London as well, which is a great thing for technical traders to keep in mind. Technical trading involves analysis to identify opportunities using statistical trends, momentum, and price movement.

What are The Best Hours for Forex Trading?

Currency trading is unique because of its hours of operation. The week begins at 5 p.m. EST on Sunday and runs until 5 p.m. on Friday.

Not all hours of the day are equally good for trading. The best time to trade is when the market is most active. When more than one of the four markets are open simultaneously, there will be a heightened trading atmosphere, which means there will be more significant fluctuation in currency pairs.

When only one market is open, currency pairs tend to get locked in a tight pip spread of roughly 30 pips of movement. Two markets opening at once can easily see movement north of 70 pips, particularly when big news is released.

Overlaps in Forex Trading Times

The best time to trade is during overlaps in trading times between open markets. Overlaps equal higher price ranges, resulting in greater opportunities. Here is a closer look at the three overlaps that happen each day.

  • U.S./London (8 a.m. to noon): The heaviest overlap within the markets occurs in the U.S./London markets. More than 70% of all trades happen when these markets overlap because the U.S. dollar and the euro (EUR) are the two most popular currencies to trade, according to Lien. This is the most optimal time to trade since volatility (or price activity) is high.5
  • Sydney/Tokyo (2 a.m. to 4 a.m.): This time period is not as volatile as the U.S./London overlap, but it still offers a chance to trade in a period of higher pip fluctuation. EUR/JPY is the ideal currency pair to aim for, as these are the two main currencies influenced.
  • London/Tokyo (3 a.m. to 4 a.m.): This overlap sees the least amount of action of the three because of the time (most U.S.-based traders won't be awake at this time), and the one-hour overlap gives little opportunity to watch large pip changes occur.

Impact of News Releases on Forex Markets

While understanding the markets and their overlaps can aid a trader in arranging his or her trading schedule, there is one influence that should not be forgotten: the release of the news.

A big news release has the power to enhance a normally slow trading period. When a major announcement is made regarding economic data—especially when it goes against the predicted forecast—currency can lose or gain value within a matter of seconds.

Even though dozens of economic releases happen each weekday in all time zones and affect all currencies, a trader does not need to be aware of all of them. It is important to prioritize news releases between those that need to be watched versus those that should be monitored.

In general, the more economic growth a country produces, the more positive the economy is seen by international investors. Investment capital tends to flow to the countries that are believed to have good growth prospects and subsequently, good investment opportunities, which leads the country's exchange strengthening.

Also, a country that has higher interest rates through their government bonds tend to attract investment capital as foreign investors chase high yield opportunities. However, stable economic growth and attractive yields or interest rates are inexorably intertwined.

The Bottom Line

It is important to take advantage of market overlaps and keep a close eye on news releases when setting up a trading schedule. Traders looking to enhance profits should aim to trade during more volatile periods while monitoring the release of new economic data. 

This balance allows part-time and full-time traders to set a schedule that gives them peace of mind, knowing that opportunities are not slipping away when they take their eyes off the markets or need to get a few hours of sleep.

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What is a forex trading robot?

A forex trading robot is a computer program based on a set of forex trading signals that helps determine whether to buy or sell a currency pair at a given point in time. Forex​ robots are designed to remove the psychological element of trading, which can be detrimental. While trading systems can be purchased online, traders should exercise caution when buying them this way.

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Developing your own forex trading robots

Forex traders may want to consider developing their own automated trading systems rather than taking a risk on third-party forex trading robots.
The best way to get started is to open a demo account with a forex trading broker that supports MetaTrader and then start experimenting with developing MQL scripts. After developing a system that performs well when backtesting, traders should apply the program to paper trading to test the effectiveness of the system in live environments. 


Unsuccessful programs can be tweaked, while successful programs can be ramped up with increasingly larger amounts of real capital.
In general, many traders try to develop automated trading systems based on their existing technical trading rules. Some such systems are more successful than others. An example might be a trader who watches for breakouts and has a specific strategy for determining a stop-loss and take-profit point. 


These rules could be easily modified to operate in an automated fashion rather than being manually executed. Traders should keep an eye on these systems to ensure that they’re working as expected and make adjustments when necessary.


Best forex trading robot 2021

The best forex robots result in the table show real-time verified trading account performances of forex robots. You can view statistics & compare forex robot statistics to help you decide which is the best forex robot for you. The table includes links to my forex robots reviews and the official website of each forex robot for your convenience.
All of the results in the table are from real and demo trading account statements provided by the forex robot developer. The results are verified by third party forex trading account verification services MyFxBook & FX Blue.


You can use the table filters to only display the forex robots that match your criteria and to sort them by different ranking factors such as drawdown, total gain, deposit, days running, and account type.


The majority of the forex robots have been running on trading accounts for at least a few months if not years and having the statistics all in one table makes it easier to compare overall performance.
New forex robots will be added when they are released and results are updated daily, so bookmark this page for the latest best forex robots results.


Best Forex trading robots 2021 list

A Forex Robot is a type of computer program, designed to follow a specific set of trade signals and settings in determining the best prices at which you can buy or sell a currency pair. Forex robots were meant to help eliminate emotional and psychological biases when trading and also automate the forex industry.
Most of these are developed to work on the MetaTrader 4 platform as expert advisors where they use complex mathematical algorithms to monitor the markets, major news and announcements as well as price actions in determining the best points at which to enter or exit the market.


Ideally, they were meant to help both beginners and experienced international currency traders maximize their returns on investments and automate their trades fully or partially. But regardless of your level of exposure to the forex trade, you need to fully familiarize yourself with the type of forex robot and how it works before forking out cash for its acquisition or subscription.


The best forex robots rated by experts

You can continue reading this guide for an in-depth look at the top forex robots, but if you don’t have time for that, here’s a look at the top robots in 2020.


  1. Learn2Trade
    FX Master Bot
    Algo Signals 
    eToro
    CryptoRocket
    BinBotPro
    Premium FX Signals
    Centobot 
    Big Breakout EA
    Hamster Scalping

What are the Pros and Cons of using a forex robot?

Pros
  1. Speedy market analysis and order processing
    Helps you eliminate emotional and psychological biases from a trade
    Can be used to backtest different strategies before deciding on the best
    Forex robots can monitor and trade multiple currency pairs and trading accounts simultaneously more effectively
    A forex robot is immune to such human limitations as exhaustion and fatigue

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