Investments with this type of forex trading have recently been very much discussed in the social media world, this has made many new players appear in forex trading in the world and in Indonesia itself.
Those who have minimal knowledge and are new to the world of forex certainly don’t know the right time to trade forex.
Therefore we will help you uncover the secrets of the world’s forex trading hours and Indonesian forex trading hours so that you can get maximum profit and not lose anything other than From determining today’s forex market, this is also very important for you to know.
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When is the Best Forex Trading Time and Hours?
The true forex trading market is open 24 hours a day and 5 days a week made up of banks, different commercial companies, central banks, hedge funds, investment management companies, not to mention retail forex brokers and investors around the world.
You should not choose the wrong place to trade forex, you can trust OctaFX as a company that helps you trade forex Worldwide and Indonesia.
The best forex trading hours are divided into several times, this is something that traders must know.
The optimal time to trade in the forex (Foreign Exchange) market is when it is at its most active levels when trading spreads (the difference between the bid price and the asking price) tend to narrow.
In this situation, less money goes to market makers who facilitate currency trading, leaving more money to buy and sell investors into private pockets.
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Get to know the 4 Major Forex Exchanges
Before you learn the best hours of forex trading, you must recognize the 4 major exchanges located in New York, London, Singapore, and Tokyo, this is very influential for you to make it easier to determine the time.
Before you take a look at the best forex trading hours, we recommend that you understand the conversion time from EST to GMT+7 by looking at the following hour conversions:
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EST to GMT+7 Conversion Table
However, from a trading perspective, the four most important times or hours are as follows (the times shown represent EST Time):
EST stands for Eastern Standard Time and WIB is GMT+7 for Jakarta, Indonesia time is 11 hours ahead or ahead of EST.
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Sessions During Forex Trading Hours
Previously we have discussed the 4 main exchanges that affect forex trading hours because these 4 countries are the main countries in forex trading so you must know in more detail what sessions at forex trading hours are divided into 4 sessions?
We must know that forex trading time is divided into several sessions. Namely the Sydney Session, Tokyo Session, New York Session, and London Session.
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There is a considerable time difference between the Sydney (Australia) and New York (America) sessions. That is about 16 hours. So with this division, the forex market seems to never sleep.
For more details, we can divide the forex trading opening hours by session as follows:
1. Sydney Forex Trading Hours
Opening hours 05.00 AM (Jakarta GMT+7)
- Est 05.00 sore (PM)
- GMT 09.00 (PM)
Closing hours 02.00 noon (Jakarta GMT+7)
- EST 02.00 (AM)
- GMT 06.00 (AM)
2. Tokyo Forex Trading Hours
Opening hours 07.00 AM (Jakarta GMT+7)
- Is 07.00 sore (PM)
- GMT 12.00 (PM)
Closing hours 04.00 pm (Jakarta GMT+7)
- EST 04.00 (AM)
- GMT 09.00 (AM)
3. London Forex Trading Hours
Opening hours 01.00 Noon (Jakarta GMT+7)
- East 03.00 (AM)
- GMT 07.00 (AM)
Closing hours 10.00 pm (Jakarta GMT+7)
- EST 12.00 (PM)
- GMT 03.00 (PM)
4. New York Forex Trading Hours
Opening hours 08.00 pm (Jakarta GMT+7)
- Is 08.00 sore (AM)
- Is 08.00 sore (AM)
Closing hours 05.00 AM (Jakarta GMT+7)
- EST 05.00 PM
- GMT 09.00 PM
It should be noted that when America imposed Daylight Saving Time (DST), the forex trading hours were shifted forward by 1 hour.
Similarly, if there are important events in the economic calendar. DST is usually applied between March-November with different dates each year.
The data above is the 2020 forex market opening hours data applicable to the 2021 forex market opening hours and OctaFX trading hours.
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Best and Worst Trading Hours for Trading
Now, when you know the forex trading hours above, a question will definitely arise in your mind, when is the best and worst time for trading?
Previously we explained to you that the forex market never sleeps 24 hours and five days a week.
This is the plus point of forex, that traders have the opportunity to open trades for up to five days without stopping at your service.
But there are times when it is best for you to trade and there is also the worst time for trading, we will give you loyal traders of OctaFX.
Also read: Forex Price Movements: Pivot Points, Support and Resistance
The Best Forex Trading Hours in The Worldwide
From the exposure of the World forex trading hours as well as the characteristics of each session, we can conclude the best time for forex trading. Namely:
- The European session is the busiest and busiest 2021 forex trading time or schedule compared to Asia, America.
- The Asian session is a less favorable time for aggressive traders. Because the volatility and liquidity are low. The movement also tends to be slow in terms of price for this session.
- The overlap of the two sessions will lead to forex trading hours with increased market volatility and liquidity. Then you can take advantage of the opportunity to profit in a short time.
- The most crowded forex trading is done in the middle of the week. That is on Wednesday, Thursday and Friday. While the time and hours of forex trading that are less suitable for trading are:
- Saturday morning is the forex closing time for Saturday when the market will close soon (after the American market afternoon session). Some traders choose to stop their transactions so the market will be very quiet. In addition, other events such as the Football World Cup can also have an impact on trading as the market becomes quiet. Because the attention of traders will shift.
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Worst Trading Hours
When referring to the wider world trading hours, the worst trading times are at the beginning of the week and weekends.
Referring to active trading days, this time can be interpreted as Monday and Friday. But not all Mondays and Fridays are the worst times for trading or dangerous trading hours.
Monday for example, only the opening session can be considered a less productive time for trading.
The reason is that the forex market has just reopened so there is a price gap between the closing session on Friday and the opening session on Monday.
Meanwhile, for Friday, the worst time for trading is just before the closing session. The reason is, traders have started preparing for the weekend so they can no longer concentrate on the market.
Instead of losing due to lack of concentration, many market participants left during the second session on Friday.
If without mentioning the day, world trading hours are also considered bad, namely when large markets in certain areas have closed.
For example in the Australian session, which only leaves the New Zealand market, which is often considered a small market and unable to provide good volatility.
This time period is considered unfavorable so that the spread value can widen significantly.
Basically, trading on a market that lacks liquidity but moderately high volatility can save a trader’s capital in terms of trading positions and the amount of spread during transactions.
Well, that was the discussion that could help you, traders, to make it easier to trade, but don’t use the time above as a benchmark for your success, because success in trading can happen at any time, so in our opinion, the best time to trade is to keep trying.
