| "> | | | | Trade Forex Advanced course. |
| The three major forex trading | | | | This is an interesting forecast site that I also like: |
| ‘sessions’ are as follows (all in Eastern | | | | [ |
| Standard Time): | | | | Another place to find out when the world economic |
| 1. New York open 7:00 AM to 4:00 PM | | | | news releases are: and scroll down to the bottom of |
| 2. Japanese/Australian open 7:00 PM to 3:00 AM | | | | the website for the list of the current week news |
| 3. London open 3:00 AM to 11:00 AM | | | | releases that impact the Forex markets. |
| ** Often, the best times to trade is at the beginning | | | | Most often, the economic news release is scheduled |
| 3-5 hours of the above mentioned opening times, | | | | for 8:30 AM EST. If you are in a trade at this time, |
| because the major currency pairs tend to move the | | | | make sure you have your stop loss at a place you |
| most in a particular direction. Especially when there | | | | are happy with. |
| are economic news releases. | | | | The volatility is scary and fast, but if you aren't |
| THE ABSOLUTE BEST TIME TO TRADE IS FROM 3 | | | | already in a trade, you can jump in once you see the |
| AM TO 11 AM EST. | | | | major trend, usually after the first 5-15 minutes. Look |
| The New York and London trading sessions overlap | | | | at a 30 min chart to see the major trend. |
| between 7 and 11 am EST. The volatility is much | | | | IMPORTANT NOTE: Most of the forex brokerages |
| higher and trading opportunities are much more | | | | have now stopped guaranteeing their stops during |
| frequent with bigger moves, especially in these four | | | | fundamental news release times, as the volatility is so |
| hours. | | | | extreme, that the price can often move faster than |
| The currency pair that moves the most during these | | | | their servers can keep up with. Thus, please be very |
| hours are the Usd/Chf (#1), then the Gbp/Usd, then | | | | aware that getting into and out of a trade when you |
| the Eur/Usd, then the Usd/Jpy. | | | | want, can sometimes be next to impossible. You can |
| This is when you can make 30-100 pips trading in just | | | | possibly encounter several things during news release |
| a few minutes or hours, using any of our strategies | | | | times: whipsaw of the price, slippage, freezing of the |
| in any time frame, especially around news releases. | | | | platform, disconnects, re-quotes of price, loss of |
| If you need help in converting EST time zone to your | | | | money, etc. |
| time zone, please use this world time zone converter: | | | | Don't bother calling up any dealing desk to complain, |
| OR | | | | as they are all now distancing themselves from this |
| DAILY FORECAST WEBSITES | | | | problem, and they all have a disclaimer on their |
| First thing in the morning, I go to to check out some | | | | websites. It is a buyer-beware type of situation. If |
| forecasts and news release times for the day. I | | | | you choose to play the news, you have to be aware |
| always check before I start trading and I write down | | | | of it's risks. The rewards can be very great in just a |
| the support/resistance, trend, trading range, target | | | | few minutes, or it can go against you. Make sure |
| highs & lows, news release times, etc. on my | | | | that you immediately put in your stop. |
| Daily Trading Sheet, which is provided in the Day | | | | |