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Since you have read part 1 and you now know which currency pairs to focus on and why, it is important that you understand when the different forex trading sessions are, how they differ from each other, and the best times and days to trade. It is true that the forex market is open 24 hours a day, but that doesn’t mean the market is active and worth trading for the entire day. Note: The chart to the right reflects the Tokyo open and ignores the Sydney open, we have included the Sydney open in the description below, which is an hour earlier than the Tokyo open. London trading session: the London trading session opens at 3:00am EST and closes at 12:00pm EST. New York trading session: the New York trading session opens at 8:00am EST and closes at 5:00pm EST. As you may have guessed these over-lapping periods within the three trading sessions are the times when volume and volatility rise to peak levels.
London session is closing the New York session is opening. The Asian trading session begins at 6:00pm EST as trading gets underway in New Zealand and Australia, an hour later at 7pm EST Tokyo opens up. Japan is the third largest forex trading center in the world. The yen is the third most traded currency, involved in about 19. Tokyo, Hong Kong, Singapore, and Sydney. That said, price will sometimes make powerful moves during the Asian session.