The best time is when the market is most active and therefore has the biggest volume of transactions.
Not all the times are suitable, that's because the volatility changes too much during the 24 hours.
At these overlapping market hours you will find the highest volume of currency transactions and therefore more chances to win during these hours.
Multinationals will transact currencies during this time to facilitate international business transactions and commerce, hedge funds and managed funds will trade currencies for investment purposes, banks on the other hand will exchange a lot of money on behalf of their clients, maybe tourists wanting to travel around the globe or just anyone wanting to exchange money so as to buy something in another country or make some transaction.
This makes the market very liquid at this time and the high volume of transactions means that currencies prices move a lot. As a trader you also want to join in when everyone is placing their orders as this is the time there is enough liquidity and many good opportunities to make money, and because there is a lot of liquidity the currency movement will generally be more predictable unlike when there is little liquidity and the currency movement becomes unpredictable and the prices can move in a range bound with no particular direction.
Once you transact currencies for a while you will get to know that is easier to make money when the market is moving up or moving down, unlike when it is in a range. The Forex market hours is the time when participants are able to buy, sell, exchange and speculate on currencies. The Forex market hours play important role for all Forex traders over the other investment markets traders.
Three major trading Hours define the daily Forex market, namely the Tokyo Trading Session, the London Trading Session, and the New York Trading Session. A more active market creates a good chance to make some profit while a calm and slow one is literally a waste of time - turn off your computer and don't even bother trading currencies at this time. Tokyo is the first market to open and many large participants use the trade momentum there to develop their strategies and as a gauge for future market dynamics.
London is the largest and most important trading center in the world, with about a 34% market share of the daily Forex volume.
The second largest trading market, New York handles approximately 16% of the world’s Forex transactions. International currency markets are made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail Forex brokers and investors around the world.
Whereas the commodities and stock market operates five days a week (Monday through Friday) during normal business hours, the Forex market continues its activity around the clock. Approximately 6% of the world’s Forex transactions are enacted in the Tokyo Trading hours.
Most of the world’s largest banks keep their dealing desks in London because of that market share.
Because this market operates in multiple time zones, it can be accessed at almost any time. The large number of participants in the London Forex market and the high value of the transactions makes the London session more volatile than the other two sessions. If you would like to invest at 9:00 pm Thursday night when you have the time to concentrate on the market, simply place your trade on one of the many online Forex trading systems .
As a result, market developments in the afternoon during the New York session do not garner as much attention. However, even though the market is considered a 24-hour market, it’s important to know when the Forex market hours is actually active and when is the best time to place a trade on the market. The New York session is heavily influenced by the US equity and bond markets and pairs will often move closely in tandem with these capital markets. These are the hours that are the most liquid or when the most traders are in the markets making trades.
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