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HomeForex SchoolBest Hours, Days, Months to Trade

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Top Expert Advisors June 2023 – Best Forex EA’s – FX Robots
Dear fellow Forex trader,

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BEST FOREX EA’S | EXPERT ADVISORS | FX ROBOTS

View the Best Forex EA’s, the reviews and proven results and sel…

Best Forex EA's | Expert Advisors | FX Robots

The King Robot Review

The King Robot
Price: $697 (THE KING ROBOT ONE YEAR MEMBERSHIP with 1 LICENCE, FREE UPDATES & SUPPORT)
Currency pairs: AUDUSD, GBPUSD, USDCAD and USDCHF
Timeframe: H1

Note: There are 2 different packages of The King Robot available rig…

The King Robot Review

FXStabilizer EA Review

FXStabilizer EA
Price: $539 (FXStabilizer ULTIMATE with 1 LICENSE, FREE UPDATES & SUPPORT)
Currency pairs: AUDUSD, EURUSD, USDCAD, CHFJPY, EURJPY, EURGBP, USDJPY and GBPCHF
Timeframe: H1

Note: There are 2 different packages of FX Stabi…

FXStabilizer EA Review

Happy News EA Review

Happy News EA
Price: €349.30 (Discounted Price for Happy News EA with 2 LICENSES, FREE UPDATES & SUPPORT)
Currency pairs: EURUSD, GBPUSD, AUDUSD and USDJPY
Timeframe: M15

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Happy News EA Review

FXCharger EA Review

FXCharger EA
Price: $385 (FXCharger EA MAX Package with 1 LICENCE, FREE SUPPORT & UPDATES)
Currency pairs: USDCAD, EURUSD, EURGBP, AUDUSD and USDJPY
Timeframe: H1

Note: There are 2 different packages of FXCharger Expert Advisor availab…

FXCharger EA Review

Forex Flex EA Review

Forex Flex EA
Price: $349.47 (Discounted Price for Forex Flex EA, 1 LIVE Account License for Metatrader 4 (MT4), UNLIMITED DEMO ACCOUNTS, FREE UPDATES & 24/7 FRIENDLY SUPPORT)
Currency pairs: Any (GBPUSD, EURUSD, USDJPY, USDCAD, USDCHF, AUDUS…

Forex Flex EA Review

FXGoodWay EA Review

FXGoodWay EA
Price: $315 (FXGoodWay EURUSD with 1 LICENCE, 2 MODES, FREE UPDATES & SUPPORT)
Currency pairs: EURUSD, USDCHF
Timeframe: Any

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FXGoodWay EA Review

ForexExtract EA Review

ForexExtract EA
Price: $287 (Discounted Price for Forex Extract EA with 1 LICENCE, FREE UPDATES & SUPPORT)
Currency pairs: AUDUSD, USDCAD
Timeframe: Any

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ForexExtract EA Review

FX Eternals EA Review

FX Eternals EA
Price: €149 (STANDARD Package with 3 REAL & UNLIMITED DEMO ACCOUNTS, FREE UPDATES & SUPPORT)
Currency pairs: USDCAD
Timeframe: H4

Note: There are 3 different packages of FX Eternals Expert Advisor available right now…

FX Eternals EA Review

Night Forex Bot Review

Night Forex Bot
Price: $295 (Night Forex Bot EA with 1 LICENCE, FREE UPDATES & SUPPORT)
Currency pairs: USDCAD, AUDUSD and USDJPY
Timeframe: Any

Note: Night Forex Bot is a 100% automated Forex robot that works on Metatrader 4 (MT4) and…

Night Forex Bot Review

FXConstant EA Review

FXConstant EA
Price: $267 (Discounted Price for FXConstant EA with 1 LICENCE, FREE UPDATES & SUPPORT)
Currency pairs: EURUSD, AUDUSD
Timeframe: Any

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FXConstant EA Review

Happy Frequency EA Review

Happy Frequency EA
Price: €349.30 (Discounted Price for Happy Frequency EA with 2 LICENSES, FREE UPDATES & SUPPORT)
Currency pairs: AUDUSD, EURCHF, EURGBP, EURJPY, EURUSD, GBPUSD, USDCAD, USDCHF and USDJPY
Timeframe: M5

Note: STRICTLY …

Happy Frequency EA Review

Happy Gold EA Review

Happy Gold EA
Price: €349.30 (Discounted Price for Happy Gold EA with 2 LICENSES, FREE UPDATES & SUPPORT)
Currency pairs: XAUUSD (Gold)
Timeframe: M30

Note: STRICTLY LIMITED DISCOUNT – 30% OFF

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Happy Gold EA Review

FXCipher EA Review

FXCipher EA
Price: $295 (FXCipher EA with 1 LICENCE, FREE UPDATES & SUPPORT)
Currency pairs: AUDUSD, USDCAD, EURJPY, NZDUSD and EURCAD
Timeframe: Any

Note: FXCipher it’s automated Forex software, that will do all the trading work for y…

FXCipher EA Review

Happy Japanese Market EA Review

Happy Japanese Market EA
Price: €315 (1 LICENSE FOR AN UNLIMITED NUMBER OF REAL/DEMO ACCOUNTS, FREE UPDATES & SUPPORT)
Currency pairs: USDJPY
Timeframe: D1

Note: With your purchase you’ll get the FULL PACKAGE of 10 Happy Forex EA’s for…

Happy Japanese Market EA Review

Happy Breakout EA Review

Happy Breakout EA
Price: €550 (1 LICENSE FOR AN UNLIMITED NUMBER OF REAL & DEMO ACCOUNTS, FREE UPDATES & SUPPORT)
Currency pairs: EURUSD, GBPUSD
Timeframe: M30, H1

Note: With your purchase you’ll get the FULL PACKAGE of 10 Happy Fo…

Happy Breakout EA Review

Happy Power EA Review

Happy Power EA
Price: €325 (1 LICENSE FOR AN UNLIMITED NUMBER OF REAL/DEMO ACCOUNTS, FREE UPDATES & SUPPORT)
Currency pairs: EURCHF
Timeframe: M30

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Happy Power EA Review

Happy Brexit EA Review

Happy Brexit EA
Price: €385 (1 LICENSE FOR AN UNLIMITED NUMBER OF REAL/DEMO ACCOUNTS, FREE UPDATES & SUPPORT)
Currency pairs: EURGBP
Timeframe: H4

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Happy Brexit EA Review

FXTrackPRO EA Review

FXTrackPRO EA
Price: $445 (FXTrackPRO SUPER with 1 LICENCE, FREE UPDATES & SUPPORT)
Currency pairs: EURUSD, GBPUSD, USDJPY, USDCAD, EURJPY and CHFJPY
Timeframe: Any

Note: There are 2 different packages of FXTrackPRO Expert Advisor avai…

FXTrackPRO EA Review

FXQuasar EA Review

FXQuasar EA
Price: $279 (FXQuasar EA with 1 LICENCE, FREE UPDATES & SUPPORT)
Currency pairs: AUDUSD
Timeframe: Any

Note: There are 6 different sessions built into FXQuasar EA. 3 of these sessions trade exclusively using long (Buy) posi…

FXQuasar EA Review

FXRiseUP EA Review

FXRiseUP EA
Price: $259 (FXRiseUP EA with 1 LICENSE, FREE UPDATES & SUPPORT)
Currency pairs: EURUSD
Timeframe: Any

Note: FXRiseUP EA is a classic supply and demand trading system designed for the EURUSD pair.
LIVE ACCOUNT TRADING RESU…

FXRiseUP EA Review

Waka Waka EA Review

Waka Waka EA
Price: $1,980 (WAKA WAKA EA with Up To 10 ACCOUNTS/ACTIVATIONS, FREE UPDATES & SUPPORT)
Currency pairs: AUDCAD, AUDNZD and NZDCAD
Timeframe: M15

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Waka Waka EA Review

Happy Galaxy EA Review

Happy Galaxy EA
Price: €299 (1 LICENSE FOR AN UNLIMITED NUMBER OF REAL/DEMO ACCOUNTS, FREE UPDATES & SUPPORT)
Currency pairs: EURUSD, GBPUSD, USDCHF, EURGBP and EURCHF
Timeframe: H1

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Happy Galaxy EA Review

Forex Truck EA Review

Forex Truck EA
Price: $329 (Forex Truck EA with 1 LICENCE, FREE UPDATES & SUPPORT)
Currency pairs: USDCAD
Timeframe: Any

LIVE ACCOUNT TRADING RESULTS:


Forex Truck EA Review – Best Forex Expert Advisor For USDCAD Trading
Forex T…

Forex Truck EA Review

WallStreet Forex Robot 3.0 Domination Review

WallStreet Forex Robot 3.0 Domination
Price: $294.95 (Discounted Price for WallStreet Forex Robot 3.0 Domination PREMIUM, FREE UPDATES & SUPPORT)
Currency pairs: EURUSD, GBPUSD, USDJPY, USDCHF, USDCAD, NZDUSD, AUDUSD and EURJPY
Timeframe: M1…

WallStreet Forex Robot 3.0 Domination Review

Forex Gold Investor EA Review

Forex Gold Investor EA
Price: $252.45 (Discounted Price for Forex GOLD Investor EA, 1 LICENCE, FREE UPDATES & SUPPORT)
Currency pairs: XAUUSD (Gold)
Timeframe: M15

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Forex Gold Investor EA

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IC Markets Review

Company name: IC Markets / International Capital Markets
Founded: 2007
Headquarters: Australia
Regulatators: AU ASIC / CY CYSEC / SC FSA
Minimum deposit: $200
Maximum leverage: 500:1

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OANDA Review

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Best Hours, Days, Months to Trade Forex - Understanding the Market Cycles

Best Hours, Days, Months to Trade Forex – Understanding the Market Cycles

Table of Contents

It is great that forex is a market that can be traded around the clock, 24 hours, 5.5 days a week, 12 months a year. Being open all day and most of the week brings to the market a greater liquidity than otherwise, and it gives traders from around the world the flexibility to trade when they want. They can trade as little or as often as they want, during their business hours, after work or even in the middle of the night.

However, there are drawbacks to having the market being open 24-7. It is nice to have the flexibility to trade at any time, but we are also human, which means that we must sleep, eat or relax, and cannot be monitoring our positions all day and all night. There will always be times of missed opportunities or jumps in price that will move against established positions when we are not around. This is a human limitation, and that is why in forex it is advisable to trade with an Expert Advisor (EA) that trades for us 24-7, or barring that, it is advisable to choose the best time to trade based on one’s own available time and strategy logic.

This article attempt to go over some of times to trade, broken up into three parts:

  1. Best Hours to Trade
  2. Best Days to Trade
  3. Best Months to Trade

Best Hours To Trade

Although there is always liquidity in each session, they are not created equal: there are periods when price action is consistently volatile and periods when it is muted. Moreover, currency pairs exhibit varying activity over certain times of the trading day in relation to the demographics of the participants online at the time. In the 24-hour fast paced Forex market timing is critical and choosing the best time to trade can add to one’s profit potential.

The best trading hours are the times when volume and volatility levels are highest. High trading volume means that more lots of a particular currency pair are being bought and sold and high volatility means that the currency pair is moving fast and trending quickly. High volume and strong volatile cause large pip movements during the best trading hours. Moreover, the spreads become narrower during high volume trading hours, and narrow spreads means lower transaction costs.

Let us look at a table of the sessions once again, oriented around GMT and EST:

Session Time Zones Table
MarketHoursTable_TimeZones

New York opens at 8:00 am to 5:00 pm EST (EDT)
Tokyo opens at 7:00 pm to 4:00 am EST (EDT)
Sydney opens at 5:00 pm to 2:00 am EST (EDT)
London opens at 3:00 am to 12:00 noon EST (EDT)

If you want know the above table in relation to different time zones, you can go this website: http://www.forexmarkethours.com/

Of the 4 sessions (London, NYC, Sydney, Tokyo), the best ones to trade are the London session (colored blue) and NYC session (colored green).

European Session: 3 Am To 12 Noon EST

Given that 34.1% of the world daily turnover occurs in United Kingdom (London) and that another 7.5% occur in the nearby time zones of France, Germany and Denmark, it is easy to see why the European session is one that should not be ignored. The large number of market participants has made London the world’s most volatile market for trading currencies. And it links with both the Asian and American sessions. The problem for US trader is that they might have to get up very early (or stay up very late) to trade a European session that runs from 2 am to 12 pm EST. Of course this session is ideal for the European trader, and it is also not too bad for the Asian Trader who can trade the European session during his evening (3:00 PM to Midnight, Hong Kong Time). Currencies like the Euro, British Pound and Swiss Franc are most active during this session as traders from the European countries use their domestic currency in their foreign exchange transactions.

US Session: 8 Am To 5 PM EST

Given that 16.6% of the world daily turnover occurs in United States (NYC), and that most of the world financial markets seem to follow what trends and numbers that are put out by Wall Street, it is likewise easy to see that the United States session is highly important. Most can trade this session, providing they do not have to go to a job during the day. Europeans, however, need to be the ones to stay up late to trade this session, and the Asians are probably already in bed.

Outside of the two best market sessions, there are two “hot zones” to trade when two market sessions are both open at the same time (called a session overlap). This session overlap represents a time of peak liquidity and it occurs twice:

Hot Zone #1: The US-European Overlap (8:00 Am To Noon EST)

The most explosive time for trading is when the European traders are trading alongside US traders in the 4 hour overlap between the two sessions (8 am to noon EST). It is the time when the world’s two most active trading centers cross — as the European session is closing and the US session is opening. It is a small, but very active, window that some currency traders call the “hot zone”. This overlap also coincides with the release of important economic numbers. Because of the overlap and economic importance, this period represents the times of greatest liquidity and movement in the markets, so pay careful attention to them. Trading EUR/USD and GBP/USD would give the best results during this overlap.

Hot Zone #2: The Asian-European Overlap (3:00 Am To 4:00 Am EST)

At night, from 3 am EST to about 4 AM EST, there is a 1 hour overlap between the Asian and European markets. Important economic numbers from both continents are also released at this time. Unsurprisingly, the GBP/JPY pair becomes the most volatile at this time.

What Hours Should I Avoid?

The least active times to trade are the quite zones of the Sidney and Tokyo Sessions, which is a combined 10 hour stretch of time 5:00 PM EST to 3:00 AM EST. Unless you are scalping during this session, hoping that your scalping system can take advantage of the lower liquidity, it is a good time to take a break and rest. The trading volume is very thin (relatively speaking) and few trends ever develop during this time. Most of the European traders have already gone to bed and the US traders have gone home to their families or have gone to bed themselves. If your awake and have the free time, it can be a good time to get prepared for the opening of the European session.

Cool Indicators To Visualize Trade Sessions

There are some cool indicators that one can drag onto one’s chart to visualize the time zones that is trading, alongside the pip range of that time zone.

AutoSessions1
Forex Green = Tokyo    Purple = London    Blue  = NYC

Note: You will have to indicate the GMT offset of your broker for this indicator to work properly. If you don’t know your GMT offset, you can download and run the following indicator on your chart:

Best Days To Trade

Forex allows us to trade 5.5 days a week, including Sunday, but that does not mean that every day gives an equal trading opportunity. Some days are more desirable to trade, in terms of volume and pip range, while others are less desirable. The rule of thumb regarding days of week is that the middle days (Tuesday, Wednesday, Thursday) receive the most action. So if you want to trade just three days a week, these would be the best days.

Days To Be Cautious About

Sunday is when everyone is still enjoying their weekend, so don’t expect much movement here, unless there has been a critical news announcement during the weekend. I have seen trend continuation or reversals happen on Sunday, depending on what had happened at the end of Friday.

Monday – though trading has been underway since Sunday, Monday still represents less of a pip-range than the middle three days. It is still early week and traders are still waiting for the economic news and numbers to come out during the week. I usually trade Monday as it can be still very profitable and I hate to miss out on the beginning of a move. But watch out for corrective moves against the main trend on Monday that later get reined in by Tuesday or Wednesday. These can lead to false trades.

Friday — this is virtual half-day because trading is busy until 12:00 pm EST and then nearly dies down in activity until it closes at 5:00 pm EST. There are still trading opportunities that can be found during the first half of Friday. But one should be on guard: this can be the day of reversals from the main trend. Be particularly on guard the second half of Friday, as volume can drop way down, causing spreads to greatly increase.

Other days you should be cautious of:

  • Non-Farm Payrolls — occurs the first Friday of every month at 8:30 AM EST. This can be an extremely volatile time to trade, and subsequent whipsaw moves can damage many open positions with stops that trade at this time.
  • Major News Events — these could be the speeches of Fed chairman, acts of war or terrorism. These days can be so volatile that you can be whipsawed.
  • Holidays (especially major holidays like July 4, Thanksgiving and Christmas) – all the big money traders are on holiday, so don’t expect the market to move. It generally moves sideways during these times.

Best Months To Trade

The whole year can be divided in thirds, starting with the three terrible months of Summer, the four best months of Autumn, and the four decent months of
Winter-Spring.

  • Thee THREE worst months (Summer): June, July, and particularly, August.
  • The FOUR best months (Autumn): September, October, November, and December.
  • The FIVE good Months (Winter-Spring): January, February, March, April, and May

 

What Is The Reason For This Divide?

Any vacation period represents drying up trading volume, and the months following these vacations represent a refreshing return to trading, like rain after a drought.

The Big Drought: The Summer Vacation Months Of June, July And August

Research data from the S&P indicates that the summer months provide weak returns for most financial markets for many countries in Europe. The old adage traditionally used across London trading floors ‘Sell in May and go away’ still holds its own, according to an analysis by S&P Indices. It is the last four months of the year that contribute most to full year returns. The theory behind this maxim is that the summer months are characterized by sluggish performance or a loss. By selling out your holdings in May, and reinvesting them only when the summer is over, you protect your portfolio and potentially achieve better returns. By analyzing the monthly performance of sixteen European markets in the S&P Global Broad Market Index over the ten year period from January 2000 to December 2009, S&P has shown that this trading strategy still holds good across Europe.

For most European countries, and also for the US, the June-August period averages out to be slightly negative. The preceding Jan-May period averages out to be 3%, with the bulk of the gains falling in last four months of the year (Sept-Jan). The last four months remain the most important for contributing to full year returns, meaning that even after experiencing a poorly performing summer there is still the chance to improve returns.

August Is The Worst Summer Month

Incidentally, August is the worst month of the summer season:

  • August 2011 was miserable for the S&P 500, falling 10%.
  • August 2010 was also miserable for the S&P, falling 4.5%.
  • August 2008 was deceptively good for the S&P, rising 1% before it nose-dived.

The summer, especially August, is the worst period to trade with many institutional traders in Europe on vacation and North America on holidays as well. That leads to less trading and big price swings. The best strategy many suggest is to simply go on vacation and resume trading when September comes around.

I have often traded during the summer and regretted it. The currency markets become very erratic and unpredictable.

If you have to trade during the summer, be ready for the sideways action. Trade a range based system (also called trend fading strategy). Sell a currency at the top of its range, buy at its bottom, rinse and repeat. Or zoom into smaller time frames (M5 or M15) to trade the mini trends.

Sooner or later the sideways trend breaks, and that is usually right after the Labor Day holiday in the US, everyone takes a break and summer is unofficially over after that.

Post-Summer Months (September To December) Offer Up The Best Trading Period, As Markets Rebounds From Summer Drought

The reason why the best months to trade occur just after summer, from September to December, is because these months represent a surge of trading activity after the summer holiday lull. If one were to choose just a few months to trade, these would be it.

Second Vacation Spot: Second Half Of December

There is a “Winter Month” for slow trading. The second half of December has the same low volumes as August. The weeks around and past Christmas are as slow as August and the beginning of January is not that great as well.

Winter-Spring Action Still Good

Just after the second holiday period in December, there is a pick of trading activity that lasts from January to May, 2011. It may not be as powerful a trading period as the one in Autumn, but it does provide many months of excellent opportunity.

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