When Can You Trade Forex: New York Session-Right as European traders are getting back from their lunch breaks, the U.S. session begins at 8:00 am EST as traders start rolling into the office. best trader forex saettle,austin,chicago,los angles,miami,new york,san francisco,washington,united kingdom,singapore etc Just like Asia and Europe, the U.S. session has one major financial center that the markets keep their eyes on. We’re talking of course, about the “City That Never Sleeps” – New York City baby! The concrete jungle where dreams are made of!These pip values were calculated using averages of past data. Take note that these are NOT ABSOLUTE VALUES and can vary depending on liquidity and other market conditions.
Also, the session range for EUR/CHF has not been included since the Swiss franc has been pegged to the euro at 1.2000 during the period. Here are some tips you should know about trading during the New York session: There is high liquidity during the morning, as it overlaps with the European session.Most economic reports are released near the start of the New York session. Remember, about 85% of all trades involve the dollar, so whenever big time U.S. economic data is released, it has the potential to move the markets.Once European markets close shop, liquidity and volatility tends to die down during the afternoon U.S. session.There is very little movement Friday afternoon, as Asian traders are out singing in karaoke bars while European traders head off to the pub to watch the soccer match. Also on Fridays, there is the chance of reversals in the second half of the session, as U.S. traders close their positions ahead of the weekend, in order to limit exposure to any weekend news.
Which Pairs Should You Trade? Take note that there will be a ton of liquidity as both the U.S. and European markets will be open at the same time. You can bet that banks and multinational companies are burning up the telephone wires.This allows you to trade virtually any pair, although it would be best if you stuck to the major and minor pairs and avoid those weird ones. Also, because the U.S. dollar is on the other side of the majority of transactions, everybody will be paying attention to U.S. data that is released. Should these reports come in better or worse than expected, it could dramatically shake up the markets, as the dollar will be jumping up and down.Confused on which sessions start when? We made the next section just for you! What Is Traded In Forex? The simple answer is MONEY.Because you’re not buying anything physical, forex trading can be confusing.Think of buying a currency as buying a share in a particular country, kinda like buying stocks of a company.The price of the currency is usually a direct reflection of the market’s opinion on the current and future health of its respective economy. In forex trading, when you buy, say, the Japanese yen, you are basically buying a “share” in the Japanese economy.You are betting that the Japanese economy is doing well, and will even get better as time goes. Once you sell those “shares” back to the market, hopefully, you will end up with a profit.In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country’s economy, compared to other countries’ economies.By the time you graduate from this School of Pipsology, you’ll be eager to start working with currencies.
Major Currencies Currency symbols always have three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency.Take NZD for instance. NZ stands for New Zealand, while D stands for dollar. Easy enough, right? The currencies included in the chart above are called the “majors” because they are the most widely traded ones.We’d also like to let you know that “buck” isn’t the only nickname for USD. There’s also: greenbacks, bones, benjis, benjamins, cheddar, paper, loot, scrilla, cheese, bread, moolah, dead presidents, and cash money. So, if you wanted to say, “I have to go to work now.”Instead, you could say, “Yo, I gotta bounce! Gotta make them benjis son!”Or if you wanted to say, “I have lots of money. Let’s go to the shopping mall in the evening.”Instead, why not say, “Yo, I gots mad scrilla! Ima head to the mall later.”Did you also know that in Peru, a nickname for the U.S. dollar is Coco, which is a pet name for Jorge (George in Spanish), a reference to the portrait of George Washington on the $1 note?