Even though the Forex market is open 24 hours a day with the exception of weekends, not all hours are as equally good for trading. The reason that the Forex market is open 24 hours a day is that it is made up of different sessions around the globe that between them cover 24 hours.
The more markets are active at the same time, the more trades are being executed, and the more action for you to cash in on.
Trading Sessions (GMT):
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Since the London session is the busiest out of the four, the best times for trading are 8am‐9am (GMT) and 13pm‐17pm (GMT), because that’s when the London session overlaps with other sessions.
Abuse the news.
As for news reports, these are times to be careful. Many profitable trades are made moments prior to or shortly after major economical announcements. You can gain a fortune as well as lose one if you’re not sure of what you’re doing. This is why it’s important to stay on top of what’s happening in the international finance arena.
Market sentiment becomes crucial at these times, since traders basically stampede to the market around the time of the report. eToro makes sure to give you a heads up whenever anything major is going down.
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