Which pair do you recommend for my timezone?

Hi everyone,
I am facing a bit of a dilemma and i would greatly appreciate any advise on how to solve it. I am a newbie and have been practicing forex for 2 months now and i have been doing pretty good with EUR/USD pair and making some consistent profits on my demo account.

Now here is the problem i work live in GMT+2 timezone and i also work a 9 to 5 job with no possibility to trade during work hours. So usually i tend to miss out on all the good market moves with EUR/USD. So what i would like to know is if there are any currency pairs which are good to trade after i get back from work ?

The fiber has the most action, so it will offer the best prospects. My advice would be to look for a trading strategy that fits within your time frame and go from there. Remember big moves also have a flip side to them.

You could always make some orders before you go to work and set up your limits in order to be safe. I would recommend JPY pairs before you go to work and USD pairs for when you come back home.

P.S Are you from Romania:) ?

Move to a daily candle. Problem solved.

Agree. Use daily candles on any major

Use 4h or Daily timeframe for safe trading.

Forex ideal time to trade

Forex market is open 24/7 hours and is an over the counter market(OTC) existing all over the world without a centralised unit.So you can trade at any time during the day or night from anywhere in the world.But you won’t be able to trade during weekends and some holidays since your broker is closed during that time.So a trader has the opportunity to enter into a trade over a broader range of time except during weekends.But since most of the retail investors are doing trade only part time,it becomes practically impossible to monitor the trends in market without any break and make the necessary responses at the right time. So it is very important to know the ideal time to trade and be very selective.

The best time to trade is when the market is the most active with good volumes of trades. This interval provides you the maximum profitable trading opportunities with your investment strategy.The remaining period is very choppy which make it risky to trade .The profitable time range in each case depend on the individual currency pair,the timezone of the dealing desk and the regional macroeconomic factors.A trader should be aware of the trading range variations with time for the specific currency pair of his choice to properly allocate the capital for a profitable trading

First find out your broker’s time,.Select the interval during which the two countries of the currency pair actively trade.Better avoid trading during remaining hours. You may apply the parameters accordingly in your EA code base.

For example,if you are trading EUR/USD pair with a broker in GMT+2 zone

it goes like this

1.US trading time 15 to 23 hrs

2.UK trading time 10 to 18 hrs

3.Overlapping time 15 to 18 hrs, which is the ideal time to trade

5.Optimize the EA code base accordingly.Let Your robot sleep the remaining hours !

                            Different time zones and ideal currency pair to trade.

The main trading centers are New York,London,Tokyo,Hong Kong and Singapore.Banks throughout the world participate.Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the North American session and then back to the Asian session,excluding weekends.

European session ( 2AM to 12PM EST)is the most volatile session of forex trading,because the largest and most important dealing centre in the world is located in London where more than 30% of the transactions take place.The ideal currency pairs to trade during this time are





                                                 5.EUR/USD etc.

The other profitable currency pairs suited for trade during this period include USD/JPY,AUD/JPY,EUR/CHF,AUD/USD,NZD/USD and EUR/GBP.

The North American session is 8AM to 5PM EST and it attributes to nearly 19% of market share which is traded in the second largest forex trading market place , New York.The New York session is characterised by high liquidity during early half of this period which represents the US-European overlapping session.The US session ends when the Asian hours opens at Tokyo,where majority of the transaction take place in Asia.The ideal currency pairs to trade profitably without significant risk during the US session are GBP/USD,USD/CHF,GBP/JPY,GBP/CHF,EUR/USD,USD/JPYandUSD/CA

The Asian session opens with the Tokyo forex exchange,which is the largest marketplace of forex in Asia.The good picks to trade during this session are USD/JPY,GBP/USD,GBP/CHF.The latter half of this session is the Asian-European overlap period and is with less turnover which makes this session very risky to trade.

Forex Holidays

Forex is never closed,it is continuous. Markets are alive even during Christmas and New Year.But your broker may be closed during week ends and holidays,which may vary from broker to broker and country to country.

The markets are choppy and prices are unstable during this time.It may be literally dead at times.The liquidity is very small and trends are sudden,but short-lived.A safe trader can exit open positions wisely or protect the capital with strict SL and TP.Overall you have to find the best time to trade according to your currency pair of your choice and your location .

Can I completely eliminate the influence of time filter on trading ?

Ans: Not possible completely,but if you opt for longer timeframes,the effect can be minimized eg daily ,weekly etc use automated trading and sleep!