What are your trading hours? When you trade in the FX market with your real money, you will find these topics helpful and guide you to make a profit
Introduction to your trading hours:
The Forex market is extremely volatile. Due to the high availability of free resources, anyone can learn the basics of trading within a short time. However, you should not get the idea that knowing all this could result in making money. Pip movement largely contributes to making money, but Forex is not your local stock market. It is an international market that is open 24/7. We have told you about your trading hours session in Forex. We don’t give you the basic idea of when to trade and when not to trade. Here is the chart
We have told you before about the trading hour. You should only make a trade when the market overlaps. During the overlapping session, more transactions are made and thus the market becomes more volatile. As you will be making profits based on the market movement, you get the unique opportunity to earn more money during the overlapping session.
How Forex session contributes to money-making? If you think it is only the risk management and pip movement, you are wrong. If you trade in an off-market hour, your pip will not give you a movement. You can earn money when your pip moves upward in buy and moves downward in sell.
Importance of the your trading hours
We have told you about your trading hours of Forex. How is it related to your making money in Forex? Here is your answer.
You cannot buy your clothes when the market is closed. You are prepared but the market is closed, you cannot buy cloth. The same is true for Forex. If you enter the market when the market is off or not moving in, you cannot make money. The professional traders always prefer trade during the overlapping session as they know making money in the future investment business is all about taking the trades during the market volatility. They also choose their trading asset based on the trading session.
Forex is a 24/7 market. It does not rest. Therefore, trading in Forex is profitable, but not when the market is not moving. Every day, the Forex market moves only 300 pips. Yes, you have heard it correctly. A trillion-dollar-sized market moves only by 300 pips. If you enter the market when all the pip movement has been done, do not expect to make a profit. Some novice traders often set irrational goals and make the overall trading process very hard. To be on the safe side, you need to trade the market with very low expectations.
Forex markets overlap and provide decent profit-taking opportunities. The overlapping market gives the best movement in your trading hours. Keep in mind that, European markets give you the best movement. If you want to trade with a larger market movement, trade in the European market. But also, remember that more movement means more profit or loss. Unless you are good at strategically managing the trades, you should not trade the volatile market. Try to find reliable trade signals in stable hours and take your trades with less than 1% risk.
Different currency pairs are in Forex. There are 8 major currencies. There are also many other minor currencies. If you know the trading hour of Forex and prepare your risk management, you can make money in Forex. But do not be greedy and trade after winning the trade. Follow a strategy and monitor the movement of the market. Patience is key to getting success in Forex trading.
Summary about your trading hours
This is a little basic info about Forex. When you trade in the FX market with your real money, you will find these topics helpful and guide you to make a profit. Practice hard, build a simple strategy, and don’t follow a different pattern for every trade. Keep track of your trading profit and loss and you can make money.