Forex or FX trading lets you trade currencies all over the world behind your computer monitor. This market is attractive to many investors due to the high transaction volume and high returns. People from all over the world do these trades in multiple currency markets. The trading hours are dependent on which market you are focusing on at the moment. For example, trading in Singapore starts at 9:00 PM EST. it is followed by Frankfurt at 2:00 am and by London at 3:00 am according to Eastern Standard Timings.
There is always an opportunity to trade the forex markets. When one market is closing in one part of the world, another market is opening or entering its heavy trading volume. Some of the examples are listed below.
> Forex trading markets in Asia will get closed by 4:00 Am EST whereas Europe starts its trading by this time.
> The forex market in the USA gets started by 8:00 AM EST whereas Europe closes its market by this time.
Forex trading can be considered to be a market that runs round the clock. It is up to you to calculate the optimal trading times of the countries you are focusing on. Once you identify the optimal trading hours in each market you awant to focus on, you might not have the time tackle all of the opportunities. This is when hiring a broker or an automated computer program that executes the trade for you comes in handy.
When selecting the brokers or companies, confirm whether they are ready to work for different timings of EST and whether they trade all the available currencies in the forex markets.
External Resources:
Forex Trading Hour Converter
Forex Market Hours
Sunday, May 17, 2009
Tuesday, April 21, 2009
How Profits are Made in the Forex Market
How exactly can you make real, put-it-in-my-bank-account money from trading the forex market? It’s a pretty simple process when you sit back and look at it…
Currency fluctuations (also known as market volatility) is the primary driver for profit opportunities. The key is to enter your trade as close to the support level as possible and let your trade play out to the level of resistance. Of course there are numerous strategies and ways of profiting in the forex market, but the foundation is entering at support levels and exiting as close to the level resistance as possible. So it’s important that you have a very strong understanding of how support and resistance levels.
As you begin to trade, you will see that the majority of your trading profits is made up of small wins and losses. But you will also begin to recognize occasional “homerun” situations. This is where you can exponentially grow your yearly profits by successfully exploiting these situations. The strategy behind taking advantage of these trades really isn’t much different from the normal trades you make; the money is bigger. So keep your objective mindset, stick to your strategy, and go get your big money.
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