Summary: For most forex traders, the best time of day to trade is the Asian trading session hours. We analyzed over 12 million real trades conducted by FXCM clients, and we found that trader profits and losses could vary significantly by time of day. Most forex traders are more successful during the late US, Asian or early European trading sessions – essentially 2 PM to 6 AM Eastern Time (New York), which is 7 PM to 11 AM UK time.
Those profitability statistics can certainly vary on a day-to-day basis, but the patterns are impressively stable over the course of the year. You can see that periods of strong trader performance line up with low-volatility trading hours.
Of course that same trader would do quite poorly if price broke significantly above resistance or below support. This next chart shows the exact same strategy over the exact same time window, but the system does not open any trades during the most volatile time of day, 6 AM to 2 PM Eastern Time (11 AM to 7 PM London time).
By sticking to range trading only during the hours of 2pm to 6am, the typical trader would have hypothetically been far more successful over the past 10 years than the trader who ignored the time of day. Many traders have been very unsuccessful trading these currencies during the volatile 6 AM to 2 PM time period.


Asia-Pacific currencies can be difficult to range trade at any time of day, due to the fact that they tend to have less distinct periods of high and low volatility. FXCM Clients can take free On-Demand classes on the RSI strategy via the DailyFX PLUS Trading Course. The DailyFX Research team has been closely studying the trading trends of FXCM clients, utilizing the enormous amount of trade data at FXCM.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and trading charts from FXCM.
US active retail accounts fell below 90,000 for the first time since Forex Magnates began to track these statistics in 2011 as part of our US Forex Profitability Account, while trader profitability declined. With the market turmoil still causing a great deal of uncertainty, Forex Magnates lists the brokers which are not likely to require traders to cover their negative balances. We’ve seen records for thousands of traders, and the chart below shows a noteworthy trend pulled from real trades conducted by FXCM clients from 2009-2010. Traders tend to see the best results during the Asian trading session, and the chart below shows that the Euro tends to move far less through this period. If a currency has fallen and is trading at or near significant support levels, the range trader will often buy.


For example, the Japanese Yen tends to see more volatility during Asian hours than the Euro or British Pound; these are the hours of the Japanese business day. In fact, this trading style means that many of them have trouble being successful in forex because they are trading during the wrong time of day.
The chart shows the profitability of traders with open positions broken down by hour of day across the five most popular currency pairs. To see why volatility lines up so well with performance, we need to look at real trader behavior. If the same currency then trades higher and near important resistance, that same trader sells.
This can work if price is not breaking major price levels and continues trading within relatively narrow ranges.



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