Time to do Currency Trading

Do you know the best time to trade forex? I found this excellent article about Best Time to Trade Forex. Unlike stock trading, the foreign exchange market is open round the clock during the 5 days in a week. However this doesn’t mean that the Fx trading market is getting the same number of business or price changes throughout these days. There is much more business on the forex markets at certain times of a day and usually, the best times to trade are when the trades are most active.
The 2 major trading floors for Fx trading are London and the US markets. Even though the UK does not use the euro, the majority of European countries are within one hour time difference from the Great Britain, as is Switzerland. US time zones also include Canadian. So between the US and UK sessions cover most of the key currencies that are exchanged.
The England session starts at 8.00 UTC and closes at 16.00 UTC. The currencies that are most involved during this currency exchange session are the euro (EUR), British pound (GBP) and US dollar (USD) which is involved in the majority of currency trades.
The United States forex session begins at 13.00 UTC (8.00 EST) and ends at 22.00 UTC (17.00 EST). The most traded currencies during this currency exchange session are USD, EUR, GBP, AUD (Australian dollar), JPY (Japanese yen) and CAD (Canadian dollar).

The max out trading time, as you might expect, is during the 3 hours when these two trading sessions overlap and the markets are live in both London and United States. This period runs from 13.00 to 16.00 UTC (8.00 to 11.00 EST).

Trades who like to let the orders run over several days or would like to utilize a software like Forex Derivative it may not make so much difference to know the peak times on the currency trading markets. But if you are involved in day currency exchange where you have to open and close a trade within a short period of time, you will notice majority of the opportunities coming up during the above mentioned hours. And some times trading manually during this session can beat the Autopilot Forex which is the most popular currency trading software.

If you are trading in cross rate, i.e. a forex pairs that do not consist the US$, you may have another session when the currency exchange centers in your two countries are live for business.
Let’s assume if you are currency exchange in AUD/JPY you will notice that trading was maximum during what is called the Asian session. The Aussie and Japanese trading hours are pretty close and on a day when activity was expected you might find some best trades during the overlap. But, generally speaking this is a slower currency exchange session for just about all currencies.
So the best time for most traders is during that three hour session in the morning in the US and the afternoon in the UK and Europe, when the forex markets are open on both sides of the Atlantic. Business can be frantic during those hours, there is maximum liquidity and the currencies move far and fast. Many of the important financial news is released during this period too, especially toward the starting. So this time period is the best currency trading times if you want to make quick cash.