Forex Trading Hours 2021: Learning the Opening and Closing Hours of the Forex Market Affect Your Earnings to Increase
Forex trading hours should be known by anyone who wants to increase their earnings in this market. When it comes to the forex market, there is plenty of time to trade. Because the forex market is a unique market that is always open for a long time.
If you were to buy and sell stocks, whether it be the New York Stock Exchange or Borsa Istanbul, you would be buying and selling them through an exchange. Probably also in general trading hours in the markets you would be moving through. However, there is no such and similar central exchange in the forex market.
All transactions in the Forex market are carried out through banks or market makers, which are basically intermediaries that traders like you and us have to use. If you want to make more profit in Forex, trading hours at the most active levels will help you with this goal.
You can find an up-to-date chart on forex trading hours in this article. In addition, in our article, you can learn in which geographies the main sessions in the forex market begin and end and how it can benefit you to know the trading hours.
Forex Trading Hours
In the Forex market, the opening and closing trading hours vary by centers. According to these centers with the current time Turkey is as you see in the forex trading hours table.
|Forex Market Center||Opening time||Closing Time|
|New York (USA)||15.00||00.00|
generally forex market tracks all time zones of the world. In this way, it is divided into three main time periods: Asian Session, European Session and USA Session. If you are wondering how Forex trading hours can be more beneficial for you, you need to first understand what these three main timeframes mean.
The first opening in Forex market centers is Asia, including countries such as New Zealand, Australia, Singapore, Japan. This is also called the Asian Session and is normally the quietest of sessions in terms of trading volume.
The opening in Asia is followed by the European Session. Meanwhile, traders (traders) in the Middle East come into play, followed by all major European centers, where London finally opened. The European Session is considered the main session, as it normally has the highest volume traded. Many people might think that the main session in the forex market is also in Wall Street orbit, but it is important to remember that London is the financial capital of the world.
The last session to be opened is the US Session, and this session is driven by major news developments that have a huge impact on the US dollar itself, especially early in the day. For example, given forex trading hours, we have three main trading sessions overlapping each other, and you generally need to follow these sessions.
Why Forex Trading Hours Matter
You can technically access the Forex market for 5 days and 24 hours during the week and trade at any time of the day during the forex trading week, but many traders know that certain hours provide more liquidity and better spreads than other hours.
Apart from spreads, another important consideration regarding forex trading hours is which of the main trading sessions will offer the best opportunity to trade on which currency pairs.
Given the variety of currency pairs, market conditions can vary between sessions with large volume. Thus, the time frame you choose for trading may vary depending on the currency pair you choose to trade. Let’s explain this with a small example for better understanding.
Let’s say you intend to trade in USD / AUD parity. In this case, you can generally see a higher amount of liquidity and evaluate the news feeds during the Asian or direct Australian session compared to the New York session. As another example, if you want to trade in USD / EUR, you can choose the European session for similar advantages.
What Are The Best Forex Trading Hours To Trade?
It is important for many forex traders to be able to predict which trading hours or main sessions will usually offer the best opportunity to trade, given their specific trading strategies.
Many forex day traders prefer to trade between normal waking and sleeping hours. However, some may prefer to adjust their working hours according to the currency pairs they want to trade the most.
For example, a trader mainly interested in trading the Japanese Yen may not be able to benefit from the same level of liquidity and information flow in the New York session they would see during the Asian session, where major Japanese banks were competing in the forex market.
From this perspective, even if physically located in Europe or the US, a Japanese Yen trader may choose to adjust their wake up and trading hours to suit the session in order to better comply with the standards of the local Japanese forex market.
In a nutshell, determining the best forex trading hours can vary from person to person and can be unique, given other time-related constraints such as specific strategies, lifestyle preferences, and another business.