Forex - best trading hours.

JTrader

Guest
5,741 506
Hello!

I am wanting to learn a little about trading Forex. £/$, £/Euro and Euro/$ inparticular. Any tips on the best combination to trade greatfully received. ;)

I believe that it's possible to trade Forex 24 hours a day from 9pm Sunday to 9pm Friday? However, I would like to know what the main market hours are and the best hours (BST) to trade between. Outside of these main trading hours, do the spreads tend to be wider? if so, by how much?

Many thanks

jtrader.
 
Last edited:

momoney

Junior member
13 0
I'd say as usual no definite rules, but this works for me
quiet days look at the evening session, looking out for movement by 10 am next day

on days with big data points start at noon and expect to have to concentrate till 6ish

sold straddles overnight on eurusd at 11875 legged out of it by 2pm !!
 

sasforex

Junior member
13 0
You are right it is 24 hours trading but there is a little bit of confusion that takes place over the weekend. Depending on who you are trading through and where you are located in the world, the is usually no dealer trades from 4:30 pm EST on Friday until 5:00 pm EST in the US am not sure about Europe etc. Some brokers close later and open earlier but these tend to be agood guide line to use. You can though place a trade over the weekend but it will not be executed until the dealer is in house.

hope this helps
 

josbarr

Active member
214 2
And it's a good idea to keep an eye on the times a number is released.

19/05/2004 01:30 Australia April Westpac Cons Conf N/A 115.4
19/05/2004 09:00 E-12 March Trade Balance 7.5 bln euros 5.40 bln euros
19/05/2004 12:30 Canada April Leading Indicators Index 0.60 0.70%
20/05/2004 08:30 UK April Retail Sales Y/Y 6.0% +6.4%
20/05/2004 08:30 UK April Retail Sales M/M 0.3% 0.6%
20/05/2004 11:00 Canada April CPI (core) Y/Y 1.6%- 1.8% 1.3%
20/05/2004 12:30 US May 15 Initial Claims 330K 331K
20/05/2004 12:30 US Weekly Jobless Claims 330K 335K
20/05/2004 14:00 US April Leading Indicators N/A 0.3%
20/05/2004 16:00 US May Philadelphia Fed N/A 32.5
 

a0-0b

Member
78 0
josbarr said:
And it's a good idea to keep an eye on the times a number is released.

19/05/2004 01:30 Australia April Westpac Cons Conf N/A 115.4
19/05/2004 09:00 E-12 March Trade Balance 7.5 bln euros 5.40 bln euros
19/05/2004 12:30 Canada April Leading Indicators Index 0.60 0.70%
20/05/2004 08:30 UK April Retail Sales Y/Y 6.0% +6.4%
20/05/2004 08:30 UK April Retail Sales M/M 0.3% 0.6%
20/05/2004 11:00 Canada April CPI (core) Y/Y 1.6%- 1.8% 1.3%
20/05/2004 12:30 US May 15 Initial Claims 330K 331K
20/05/2004 12:30 US Weekly Jobless Claims 330K 335K
20/05/2004 14:00 US April Leading Indicators N/A 0.3%
20/05/2004 16:00 US May Philadelphia Fed N/A 32.5
any good source recomjmendations for this sort of data?
 

philhackett

Active member
113 10
The best hours are 0700-1600 GMT but watch the chart at 1600 because this is often when big auto trades are done by Funds and the market can move quite well then.

Always watch the Forex market from 0800-1000 when good moves frequently start.

Always short Pound/Yen in May when it always goes down when Japanese books are balanced at end of year.

Purchase '`The Ultimate Trading Guide' ISBN 0-471-38135-7

Phil H

jtrader said:
Hello!

I am wanting to learn a little about trading Forex. £/$, £/Euro and Euro/$ inparticular. Any tips on the best combination to trade greatfully received. ;)

I believe that it's possible to trade Forex 24 hours a day from 9pm Sunday to 9pm Friday? However, I would like to know what the main market hours are and the best hours (BST) to trade between. Outside of these main trading hours, do the spreads tend to be wider? if so, by how much?

Many thanks

jtrader.
 

JTrader

Guest
5,741 506
Thanks Phil

while the European markets tend to open at 08:00 CET = 07:00 London time - I see the London open time of 08:00 London time as a more realistic start time for me. This is simply because a 07:00 start is just too early a time for me to have overcome the effects of my sticky bed syndrome ;) .
I am naturally a late to bed and late to rise person. Given that EUR/USD trades actively between 07:00 - 21:00 London time - I feel no need to deprive myself of sleep.

Cheers

jtrader.
 

c6ackp

Well-known member
441 28
This is probably a wise move jtrader, you won't miss much as 07-08+ can be a real rollercoaster. Unless you're planning on taking some fast signals (i.e. 1min signals) then the opening period can often be quite tricky...

Steve
 

gullible

Active member
159 0
Not an expert but if you want a few pips 10 or so a couple of times-trade between 6.30 to 7.30 in the morning. By the way this is on cable
 
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