One of the best things about forex trading is that market is open 24 hours a day and if you trade from the United States, you can begin trading as early as Sunday afternoon or evening when the Tokyo/Sydney session starts. And the 24-hour market is where lots of traders make the error of thinking that simply because the market is open all day that great trading opportunities are present at every minute of each trading session.
What sets it apart from the large stock markets and bond markets? Unlike conventional forms of trading on the stock market conducted usually be a central exchange, Forex trading takes place directly between two parties necessary to run a trade. This can either be over the telephone or on electronic networks all over the world. The main centers for trading are Sydney, Tokyo, London, Frankfurt and New York. This worldwide distribution simply means that the Forex market is operational on a 24 hour basis non-stop for about 6 days per week. Whilst one can say that Forex trading typically involves commercial customers, it is becoming more and more common to see that individual investors are cashing in on this lucrative trade as well.
When you order the FxPnF System, you will gain a whole new understanding of how the forex market works and, most importantly, how you can make a killing trading currencies.
The foreign exchange market, also known as Forex, has unique characteristics that set it apart from traditional equities and futures markets. The good news is these differences provide many advantages that traders can benefit from on a day to day basis. The first difference between Forex and other markets is the sheer size of the Forex market. Forex is estimated to be a $4 trillion a day market, with most trading concentrated on a few major pairs. This dwarfs the dollar …
That simply is not the case and a great deal of traders learn this lesson the hard way. This is likewise a valuable lesson for users of forex robots. Allow us to show you why.
As we mentioned above, there are preferable times of day to trade forex and there are a number of other times when you should sit on the sidelines. For traders in the US and Europe, it is not a bad idea to sit out during the Tokyo/Sydney session and if you are using a forex robot, simply turn it off during this time or alter its settings so that does not trade during this session. Tokyo/Sydney is the least volatile and the minimum amount of money changes hands during this session, of the three forex session.
If you live in Europe or have the capacity to trade the London session, happy for you because this the most active of the three forex sessions. More money is transacted during the London than during the New York or Tokyo sessions. And this means that your forex robot should be working during the London session.
The London session is extremely volatile at the open and it is not a bad thing if you decide to set your forex robot to kick in after the initial hour of the London session. Actually, London and New York have four hours of overlap when New York is opening and London is heading toward its close and if you go with just one of time of day to have your forex robot trade for you, this should be it. Remember that the New York session starts at 08:00 AM Eastern Standard Time.
The bottom line is you do not need your forex robots to be trading all the time, you just need your forex robot to be trading at the appropriate times.