Should I set the trading schedule according to the forex open market session?

Watching time to trade wallpaper
Watching time to trade
In this article, I will discuss when the right time to trade by knowing the schedule of the Open Market Forex session.

What is an open market forex session? If you are a beginner, the unrelenting movement of currency prices will amaze the first time you look at a chart on the screen.

Sometimes some moments fluctuate and there are also moments when the graph drifts. Well, that happens because there are times or moments when markets open and close and also some fundamentals that influence.

That is one factor that attracts the attention of many people to enter the forex market.

But after a few months of trying it, most of them will realize how difficult it is to find profit opportunities in forex.

In this business, we cannot buy and sell as taught in several books and online media. There is one important thing that the books and the webs rarely tell, that is the right time.

The time meant here not related to any indicator. We need not use any tools to know when is the best time for forex trading.

You realize that forex has open and close schedules such as markets, shops, and offices.

Forex market session divided into 4 sessions, namely:

  • Sydney (Australian session)
  • Tokyo (Asian Session)
  • London (European Session)
  • New York (American Session)

The division of this session has nothing to do with mapping or geographical location. It divides trading sessions based on the habits of active market participants in the transaction.

Incidentally, the active time is at the opening and closing hours of the country above, and they agreed it become 4 market sessions. Following the division of time forex sessions:

best trade sessions in the forex market
4 trade sessions in the forex market

The picture above is a schedule of open forex market sessions according to SGT time (UTC +8).

Anyway, in the forex session, there is the term Daylight Saving Time (DST), which is the time difference because of the change of seasons.

In Europe, it will experience longer nights in winter. Summer is usually from April to October. The change in hours is only one hour apart.

For winter, Sydney sessions go back one hour, London and New York sessions go forward one hour and the Tokyo session has not changed.

Should I set the trading schedule according to the market open session time?

The answer is YES because if the market is open it will be very volatile in price movements so we can get profits.

For example, we trade in USD / JPY pairs. So it's clear the price movement will be profitable if we open a position in the Tokyo (Asia) session and in the New York (American) session.

Well, it was during this session that many fundamental news items usually released, causing significant price changes

Set Forex Trading Schedules

After knowing the division of market sessions, we can now arrange a trading schedule. Here's how:

  • Relax time. The first thing that must prepare is leisure time. Example: if you work in the morning, set a trading schedule during lunch hour, afternoon coffee, or after dinner. Besides time, also consider time with family and friends.
  • Analysis Preparation. After knowing the relaxing hours, then determine the time for analysis. Pro traders usually check the news release schedule in the morning before coffee or breakfast.
  • Revised Analysis. If you feel your analysis isn't right, ask for or seek opinions from other sources on the internet such as TradingView, Investopedia, Daily fx, etc. The revision phase is usually continued before the London session begins.
  • Execution Time. After it has rounded your analysis, then only execution. We can choose the most active execution time, namely: London and New York Sessions. Take a position. If wrong there are still many opportunities the following day.

That's how to set a schedule for trading on the forex market. Thank you for reading this post.

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