Auto Forex Trading
Understanding Auto Forex Trading Time Zones
Many traders find that the forex trading time zones can be a bit intimindating . Like most traders , when I first got involved in this cash 24 hour global market , I couldn’t make a lot of sense from the time zone issue. However, that changed over time and within the article I’ll let you in on a few basic insights on how I handle this market and hopefully this will give you some help when getting prepared for another big trading day.
The first thing you need to consider is where you live , or the place where you do your auto forex trading trading from. This is the most important factor that affects how this 24 our market is looked at . For an example let’s suppose you reside in California which is on Pacific Standard Time and on the United States West Coast which is three hours behind East Coast time in New York.
Now that we’ve determined that we are going to do our trading from California , which is 3 hours behind New York , the planning can begin for the auto forex trading trading day. In this never sleeping 24-hour market ( although it does quiet on international holidays and weekends ) the day is rest and stops when the financial centers in New York close at or around 5pm EST and the Far East banking centers of Tokyo, Hong Kong, etc. open and start a new day at roughly the same time. Taking this into consideration it’s best to have your trading charts set up so that the candle or daily bar that you are using closes at 5pm EST every day .
Now that we have figured out we’re trading from the United States West Coast which happens to be three hours behind EST in New York and we know when the market resets and stops to start a new day . The next thing to consider is when you will get ready and plan for the next day . If you happen to be in California , as in this example , and you happen to be a night owl then perhaps you’d like to get ready to trade the London session which is from 1am-4am PST or 4am- 7am PST. Or, maybe you enjoy your sleep and want to doze through the London session but getting up early is no problem , around 4am PST (7am EST) so you can see what the end of the London session looks like and get prepared for the session in New York which gets a good start at 8:30am EST or 5:30am PST. Or, finally, perhaps you hate waking up early and the middle of the day is when you prefer to trade; no problem . Just wait until around 2pm PST (5pm EST) when the day begins in Tokyo and you can do your trading during this session .
Now you clearly have knowledge of the major forex trading time zones and your days can be planned accordingly. And remember , planning and being prepared are the most important factors, yet often overlooked of success in any business , including this one . This is the best way to organize your auto forex trading day.
This can be truly fantastic news. Thank you for sharing it with us!
Valuable information and design you have here! I would like to think you for sharing your thoughts and time into your comments! Thumbs Up !
This is a very interesting post, I was looking for this knowledge. Just so you know I found your weblog when I was looking around for blogs like mine, so please check out my site sometime and leave me a comment to let me know what you think.
You’re a great writer. That was an incredible article.
I really liked reading your post!. Quallity content. With such a valuable blog i believe you deserve to be ranking even higher in the search engines
Took me time to read all of the comments, but I truly loved the article. It proved to be very useful to me and I am certain to all of the commenters here! It’s always nice when you cannot only be informed, but also engaged! I am sure you had joy writing this article.
Fascinating story I already told here… $WSRA, bought for a moderate price, rode it high. Sold for a huge profit… or I thought I did. My sell order disappeared and I looked at my `profit`. Then looked at it again about 30 seconds later inadvertantly… numbers were going down. I was shocked… knew then it really didn`t sell, hit the highest limit sell offer and dumped… at a loss. lol… how stupid of me. I know my trading interface, but lost my brain cells.
Wow, this was a really quality post. In theory I’d like to write like this too – taking time and real effort to make a great article… but what can I say… I procrastinate alot and never seem to get something done.
wats up man hows it going,They are very very good,Can you please show where it’s done wrong in this article? I searched but couldn’t find a place. Thanks.
How do you do it, awesome SERP ranking of your website, Google pointet me directly to your site and what I found here is awesome, thanks guys.
very nice informative post. thumbs up. I am waiting to read more post in the future.
Great Post!…
[...] I found your entry interesting thus I’ve added a Trackback to it on my weblog
[...]…
I have been scouting around on the web for finding a top quality study concerning the following level . Searching in Aol I ultimately noticed this great site. After reading this data I’m significantly comfortable to convey that I have a wonderful impression I stubled onto precisely what I needed. I most definitely will make certain to don’t overlook this net-web site and look consistently.
It’s absolutely amazing how I have never found this blog before, especially since I’m online surfing most everyday for new and interesting topics to read over. So, glad to be able to say this is one such blog. Great content!