There are different kinds of currency pairs. However, all of them share a certain similarity and that is all of them should be traded at specific time, which are then called the best times to trade Forex pairs. Although the Forex market is open 24/7, it does not mean that it is great to trade Forex pairs anytime of the day, In order to have a profitable trade, there is a need to wait for the right timing.
Well, the best time to trade is when the market is volatile. Every trader should know that they have greater chance of making money when the market is moving instead of when it is calm. The volatility of the market is particularly important for those who use the price action strategies. There are also different sessions in Forex trading and if you know that, you would also know the overlapping sessions. The best times to trade Forex pairs is between 3:00-4:00 am (Eastern Standard Time) and between 8:00-12:00pm(Eastern Standard Time). These are the peak time because these are the times when two active trading centers across the world overlaps (while one is closing, the other one is opening).
To sum it up, the best times to trade Forex pairs is between 8:00am-12:00pm (Eastern Standard Time) because this is the time when the sessions of London and New York overlap. This only means that if you happen to have time between 8:00am-12:00 pm, then that is the time to go online to trade. You should also check the charts from time to time. Regardless of where you are residing, if you truly wanted to make a profitable Forex pairs trade, then you should learn how to take advantage of the said peak times.
Traders should also know that Sundays is not included in the best times to trade Forex pairs. This is because during these days, the movement in the market are very minimal. Therefore, if you plan to trade during these days, then you should definitely stop your plan. Instead, do it during Tuesday-Friday. As a Forex trader, it is extremely important to know when to trade best. Thus, there is truly a need for you to know the Forex market well. In the end, you should always wait for the right timing and grab every opportunity that are right in front of you. You should never let an opportunity pass.