Trading 24 hours a day is one of the characteristics that makes it different from stocks, but can you make money with more time?
Although trading 24 hours a day, you have some skill in choosing when to trade if you want to gain more opportunities to make money.
The overlap between the trading hours of the two largest markets in London and New York, between 21:30 and 24:00 Beijing time, is the most frequent time in the world with the largest number of large trades, and is in effect the prime time for foreign exchange trading.
Foreign exchange market trading hours are the working hours of national banks.
At present, there are three major foreign exchange markets in the world: London market (European market), New York market (US market) and Tokyo market (Asian market).
There are also foreign exchange markets in Sydney, Wellington, Frankfurt and Singapore.
They have different trading periods, and choosing a suitable time period for different trades can help traders profit from their trades.
London Market 15:30-0:30 London is an ancient financial center and the first place where foreign exchange trading began.
The opening hours of the London Foreign Exchange are from 15:30 to 0:30 Beijing time.
Its long tradition has made it customary for banks to start trading large amounts of foreign exchange once they have opened.
As a result, with its opening, a day of volatility in the global forex market begins to intensify, during which time opportunities for individual investors will gradually increase.
The decision, Germany’s IFO index, and the consumer price index of the 12 euro Zone and 12 euro zone countries will also affect the volatility of the European foreign exchange market.
New York Market 21:00-4:30 The New York foreign exchange market only existed during the Second World War.
Compared with London, it should be an emerging foreign exchange market.
However, as the U.S. stock market is the world’s largest capital flow center, it has a strong impact on the foreign exchange market.
Some block trading in London will not take place before the US market opens (21:30 Beijing time).
As a result, the New York market is the most active foreign exchange market in the world, and its high level of activity means more profit opportunities for investors.
The New York Exchange opened at 21:00 Beijing time.
In addition to the US stock market, its GDP data, committee rates, public statements, producer price index, consumer price index, unemployment rate and a range of underlying data will be important factors affecting the FX market.
Tokyo Market 8:00 — 16:00 Tokyo Market is the largest foreign exchange market in Asia, but it is the smallest of the three.
Its market movements usually depend on the previous day’s changes in London and New York.
Foreign exchange trading hours in Tokyo are from 8:00 to 16:00 Beijing time.
During this period, there is only likely to be a greater opportunity for volatility, as comments by dignitaries on the direction of the yen, Japan’s trade balance, macroeconomic reports, national department store retail sales and other factors will have a large impact on the yen’s movements.
Prime time 21:30-24:00 The more frequent the FX market volatility, the more opportunities to make money.
Among the three major foreign exchange markets, London and New York are the most volatile because of their dense national trading hours.
Especially in the overlapping area of the trading hours of the two markets, namely 21:30-24:00 Beijing time, it is the most frequent time for foreign exchange transactions and the most bulk transactions in the world.
If Huimin chooses this time period to trade, there may be more opportunities to make money.
At the same time, local currencies are generally more active in the trading period of the local market, and remittances can choose the trading period according to the currency in hand.
Timing, however, is a small trick in forex trading, not the magic bullet.
If you want to make money with more certainty, you should keep an eye on the market and master analytical skills.
The ups and downs of the pandemic dented risk appetite, the dollar strengthened gold fell, and oil prices fell more than 2%.
Please pay attention to the specific operation, the market is changing rapidly, investment needs to be cautious, the operation strategy is for reference only.
