Forex Market Hours | Rakuten Securities HK
Forex market opening and closing hours vary in the summer and winter times. Clients should be aware of the different trading hours before trading in the Rakuten FX platform.
Importance of forex trading hours
Forex market trading is the most interesting as well as a profitable option, but only when you understand it properly and apply the strategies well. And to understand the basic concept of it, you need to know the Forex market hours and its influence on the trading market. Here in this article, we shall cover in brief more about the importance of forex trading hours, timings, and its influence on the market.
You can technically access the forex market at any point of time as it is open for 24 hours in the weekdays and only closes on weekends. You can know about the exact summer and winter timings about the market on our website, Rakuten Securities HK. However, even when you can approach the market at any hour, famous traders have always said that certain hours are more liquid than others. So, let’s learn about these specific hours.
Desirable Market Conditions and Timings –
Most of the players in this market prefer market conditions where more action takes place and large amounts of currency are changing hands. Such conditions are the best that enhance the market liquidity as they offer more opportunities to all those who prefer short-term marketing like day trading or scalping.
Going by the preferable situation that traders love, we can consider these periods are when most of the major forex markets hours are open and mostly overlapping with one another. Therefore, you need to keep an eye on all the major stock market timings all around the world.
Another factor that makes the Forex market hours favorable is the currency pair you are most interested in. As there are different currency pairs available in the forex market, it is your interest that will make the market hours more profitable for you.
Risky Forex Market Hours –
Many experienced traders, especially the technical ones, suggest avoiding the high-risk trading timings of a day as the market is very unpredictable and relatively sharp during those times. They warn that the market price action can be too spontaneous when compared to the other less liquid durations. Some of such Forex market hours are during Fridays and Sundays, relevant bank holidays, and during major news or economic focused data releases.
However, it is completely your wish to trade during these timings and some do even prefer such volatile market timings as the profit margins are higher than ever during such hours. Therefore, if you are following the news and economic data properly, then you can go ahead with market trading during the release of major news stories.
Trading Timings and Styles –
If you want to succeed in your trades and forex markets, then you need to keep a keen eye on the news all around the world. Normally, if you follow the pattern, then it is seen that emotionally driven moves, especially in political regions during a session can become more intense with time and when other foreign markets are more active or during weekends, which can cause a tremendous effect on the forex market.
Most of the day, traders make sure of this that they avoid taking positions of overnight trades and avoid watching other sessions. In fact, even some of the traders who deal with overnight trades prefer not trading at night or Sundays to stay safe in the market.
However, there are certain trading styles like trend or swing traders that take positions for more than a day and believe in trading at any hour irrespective of forex market hours. But these styles of trading have different rules, which makes it easy for the traders to sometimes deal with overnight trading or during unpredictable times.
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