I need to see real growth in metrics like customer acquisition and trading volume before making a deeper commitment. From what I can tell, the news about EDXM will only be positive for Coinbase if it helps to expand the pie for the crypto industry as a whole. That's right -- they think these 10 stocks are even better buys. Independent nature of EDXM would also restrain the firm from the possibility of conflicts of interest. EDXM needed to prove its utility to stay relevant within the crypto space though. For now, I'm taking a wait-and-see backed crypto exchange with Coinbase. Meanwhile, the EDX exchange would work to accommodate both private and institutional investors.
Other popular forex trading apps offer free and easy access to news, price quotes, and charting. Look for apps that give you the functionality that you need to trade forex effectively. In such fast-paced markets, you may want the edge offered by real-time market updates, advanced analytics and charts, educational tools, and the latest in global market, financial, and business news. NetDania Stock and Forex Trader NetDania Stock and Forex Trader is one the highest-rated and most popular apps used by forex traders because of its ease of use and versatility.
The app provides up-to-the-minute forex interbank rates and access to real-time price quotes on stocks and commodities , such as gold and silver—more than 20, financial instruments in all. In addition, the app offers live, streaming charts and the latest market news from FxWirePro and Market News International. It also allows traders to set price or trendline alerts on specific currency pairs, stocks, or commodities.
Traders can customize the menu to suit their personal preference for news and price quotes. The app is available for iPhone and Android smartphones. Trade Interceptor Trade Interceptor is another popular trading app available for iPhone and Android users. The app provides traders with a host of options, including the ability to trade currency pairs, binary options , and commodity futures through a choice of forex brokers. Trade Interceptor's interface offers analysis and technical trading tools, including nearly technical chart indicators.
It also provides access to live, streaming price quotes and price charts, including the latest Bitcoin prices. Traders can set alerts for price levels or news releases. They can access the daily economic news calendar and real-time market news. There is also a feature that allows traders to do simulated trading and backtest trading strategies using historical price data.
Trade Smarter With Trade Interceptor, you can simulate trades and backtest trading strategies using historical data. Bloomberg Bloomberg offers a number of mobile applications for iPhone and Android, but access to some of these requires that users have current subscriptions to Bloomberg services. However, even its basic business mobile app is more than sufficient for traders whose primary interest is real-time access to the latest market news.
The app offers access to global financial markets and business news, market price data, and portfolio tracking tools. Its menu is customizable. The Watchlist feature lets traders track and analyze their current positions in currencies, commodities, stocks, mutual funds, and exchange-traded funds ETFs with charts and information summaries.
Users can also watch Bloomberg TV live through a streaming video feed. Watchlist Use Bloomberg's mobile app Watchlist to monitor and analyze current positions. It's a full-service trading platform that lets TD Ameritrade clients trade currencies, options, futures , and stocks with an easy-to-use interface. Users can access live, streaming charts that they can load with common technical indicators.
Traders can even load chart study tools that they created themselves. For up-to-the-minute business and financial market news, users can access live, streaming CNBC broadcasts. Active traders can use the thinkorswim Mobile app to monitor their positions, orders and accounts. They can make account deposits and modify trading orders or alerts. The first thing you need to do is set your time zone by clicking on the time display on the upper right-hand part of the calendar.
Doing this is extremely crucial to ascertain the right time of each news event that you will come across on this platform. After the time-zone has been set, you can move on to filter what kind of news you want to be shown and what currencies you are interested in. You can find the filter option on the upper right-hand part of the calendar. After you are satisfied with the preferences you have set, you can simply click on Apply Filter.
The Forex Factory calendar can be an invaluable tool for potential traders. However, it is advised to not depend heavily on one tool alone to enter the forex trade market. To stay updated on all events, ensure that you have a set time interval to check the calendar.
For e. Getting to know the market is highly crucial to be successful at trading. Keeping this in mind, Forex Factory came up with another invaluable feature for everyone called the Market tab. Forex Factory Market Tab To save time catching up on all the information that has accumulated while you were offline, you can simply click on the Market tab on the upper part of the calendar and soak up all the necessary information regarding the ups and downs of the market.
The market tab will look something like this. Having a quick look at the Market tab saves you invaluable time. Live forex charts will be displayed on your screen showing real-time market updates for you to analyze and make decisions with.
Additionally, this feature will be synchronized with the time zone that you had set earlier on the Forex calendar making it easier to make sense of the data that it provides you with. Indicators work by taking into account the volume as well as the price of a selected financial instrument and calculating them to predict where its prices will lead to next.
The MetaTrader 4 platform allows these calculated indicators to be represented In visual forms such as graphs so that they can be understood and interpreted by everyone. The Forex Factory allows for a huge number of indicator tools to be used on their platform to aid the traders in their investments. Finding The Right Forex Factory Broker Finding a trustworthy broker can be a daunting task especially for those who are new to the whole online trading experience.
People are often disheartened when they hear stories about how someone got duped from their broker or how complicated and overwhelming the process of trading via an online broker can be. This is where Forex Factory comes to the rescue of the traders who use their platform with such doubts in the back of their minds. Using Forex Factory, you can filter out the traders that you can work with. Forex Factory provides you with a list of potential brokers who have been vetted by thousands of users.
To access this feature, all you have to do is head over to Brokers tab on the top of the Forex Factory homepage and navigate through it. Experienced traders often look for key factors such as how many countries the broker is regulated in, how easy it is to deposit and withdraw money from the broker, how responsive their customer support services are, what their real-time spread is during normal as well as major news hours etc.
Users can simply browse these forums to pick the brains of fellow traders who are more experienced at this craft and are willing to share their knowledge on a public domain. These forums can be highly invaluable to a budding trader as these are the instruments that are responsible for keeping Forex Factory deception free. These days everyone has a smartphone in their pockets which has made the habit of switching on a laptop or desktop to check emails completely obsolete.
With the Forex Factory app, you can get lightning fast news and updates on your phone via push notifications. The app supports all android phones with android version 4 and above and is regularly updated by the Forex Factory app team. They also take queries from people on the platform and try to respond to all of them. Forex Trading Journal To be a successful trader, one must keep track of all their ideas, past trading activities, data charts, graphs, strategies, etc.
Doing this will ensure that you learn from your experience and grow from it.
This is because New York is in a different time zone to London, so there are fewer overlapping hours. However, New York is still a major financial center, so there is still plenty of activity and opportunity to trade. When the London and New York sessions overlap, you will usually see increased activity and volatility in the markets. This is because there are more traders active in the market, and more trades are being made.
This can be both good and bad news for traders — on the one hand, there are more opportunities to trade, but on the other hand, the markets are more volatile. Tokyo Session The Tokyo session is the quietest of the three, but it is still an important session for Forex trading.
This is because Tokyo is the financial capital of Asia, so it is a major center for Forex activity. However, because Tokyo is in a different time zone to London and New York, the overlap is not as significant. When the London and Tokyo sessions overlap, you will usually see increased activity and volatility in the markets.
What are The Forex Overlaps? This is usually the case with the London and New York sessions, as they overlap by 2 hours. The London and Tokyo sessions also overlap by 2 hours, but to a lesser extent. The overlap between the London and New York sessions is usually the most volatile and active time to trade, as there are more traders active in the market. Overlaps are often regarded as the best times to trade.
This is because there is more activity and more opportunity to trade. However, the markets are also more volatile during these times, so it is important to be careful with your trades. Here are the trading hours in eastern time EST. The Forex Market Hours Clock app is a free and easy-to-use app that shows the different Forex trading sessions. It also shows the times when the market is most active, so you can make the most of your trading opportunities.
The Forex Market Hours Clock app is a useful tool for traders, as it shows the different Forex trading sessions and the times when the market is most active. This means that you can make the most of your trading opportunities and get the best results. What are the Best Times to Trade Forex? The best time to trade Forex is during the overlaps between the London and New York sessions, as this is when the markets are most active.
However, the overlap between the Tokyo and London sessions is also a good time to trade, as this is when the Japanese Yen is most active. It is important to remember that the Forex market is a hour market, so you can trade at any time of day. However, the different trading sessions will have different levels of activity and volatility, so it is important to choose wisely.
What Currency Pairs are Best to Trade? The best currency pairs to trade are the ones that are highly liquid and moderately volatile. The currency pairs that are most liquid are the ones that are traded the most. This means that they have the highest volume of trades and the best liquidity.
The most traded currency pairs are the majors, so these are usually the best ones to trade. The currency pairs that are moderately volatile are the ones that have some movement but not too much. This means that they are not too risky, but there is still some opportunity for profit. Examples of Major Pairs; 1. This means that there are a lot of buyers and sellers in the market, and it is easy to get in and out of trades.
This pair is also moderately volatile, so there is some opportunity for profit. The Yen is influenced by factors such as the stock market and the Japanese economy. The Japanese yen is sometimes referred to as a safe haven asset. This means that it is seen as a safe investment during times of economic uncertainty. These factors include: 1. Your time zone If you live in a different time zone to the major financial centers, then you need to take this into account when choosing when to trade.
For example, if you live in New York, then you will need to adjust your trading hours to match the EST timezone. This is crucial, as failing to do so could result in you missing out on important trades. Your trading style Your trading style will also play a role in deciding when to trade. For example, if you are a day trader, then you will need to choose times that allow you to enter and exit trades quickly. Yet, seasoned traders know that there is an unofficial concept of Forex market hours.
Understanding Relationship Between Currency Pairs, Trading Volume, and Time Zones You see, the global currency market is dominated by large banks, commercial companies taking part in import and export of goods and services, central banks, hedge funds, and retail forex traders.
According to the contract between two parties, the Australian car importer would settle the invoice amount on the first hour of Monday. As soon as the banks open in Tokyo, the Australian importer will need to convert its Australian Dollars to Japanese Yen in order to pay for the cars to the Japanese car manufacturer.
As the payment for cars would a substantial amount, the demand for the Japanese Yen will suddenly go up early on Monday morning, which will turn the Yen bullish. This is just a simple example, but this is the reason why often prices start to move, and trends are created. The point of this illustration is to make a point that when Japanese and Australian banks are open to conducting international transactions, there is a high probability that the respective currencies, such as the Australian Dollar and the Japanese Yen, will experience increased trading volume.
Consequently, the prices of these currencies will fluctuate more compared to outside of the banking hours. Why You Should Trade During Certain Forex Trading Hours Theoretically, it is true that there is no central exchange in the Forex market, and anyone can buy and sell currencies any time of the day or any day of the week.
Nonetheless, to trade a Forex pair, you need a counterparty. To buy something you need someone else to sell you want you are trying to buy and vice versa. This is why in practice; you should spend your active trading hours when there are ample buyers and sellers in the market.
Even if some brokers allow trading during the weekends, the prices of various currency pairs hardly move on Saturday and Sunday. If you are a short-term day trader, who opens and closes trades within a day, trading outside banking hours in major financial centers around the world will also feel like you are trading during the weekend. Because if major financial institutions and professional traders are not placing huge orders that move the market, there is no reason for the solid trends to take place.
Hence, the concept of Forex Market Hours derives from the notion that when major financial markets are open in a given time zone, the volume and liquidity in the market remains high, which in turn reduces the difference between the bid and ask prices and helps traders to fill their orders relatively easily without incurring slippage.
After all, as a retail Forex trader with limited capital, you will not be in a position to move the market. You will solely rely on larger players like banks and institutional investors to create the trends and hopefully catch a few to turn a profit. This is why short-term retail Forex traders should trade only during active banking hours and avoid looking for trading opportunities when the forex market hours clock stops ticking.
Dollars to get some British Pound for pocket money at an Airport Foreign Exchange Kiosk after arriving in London, in the middle of the night, it would be also considered as a foreign exchange trade. However, as you can guess by now, large billion-dollar, cross-border, transactions do not happen at 3 a. Moreover, not all branches of a certain big bank will do these large-scale cross-border transactions.
For example, a small branch of the Bank of America in Louisville, Kentucky. However, its downtown Manhattan branch in New York will certainly engage in large-scale foreign exchange deals. Similarly, a branch of the Swiss multinational investment bank, UBS Group AG, in Bangkok will have a lower transaction volume in the Forex market compared to its branch located in a major Asian financial hub like Singapore. Therefore, liquidity and volatility are usually higher when markets are open in these time zones.
Besides banks engaged in commercial cross-border currency transactions, institutional investors and hedge funds speculating in the international stock exchanges also generate a high volume of foreign exchange transactions. Hedge funds with international exposure often buy and sell a large number of stocks across the globe to diversify their portfolios. Coincidentally, some of the major forex exchange hubs also host the major stock exchanges.
So, cross-border investments that require moving funds from one end of the globe to another generally contributes to a higher level of trading volume in the global foreign exchange market. Furthermore, when banks and stock exchanges in more than one major financial centers are open simultaneously, the trading volume and liquidity go up substantially.
Figure 2: Best Time to Trade Forex - Based on Trading Volume in Different Forex Market Hours This is why the beginning of the New York trading session has usually generated the bulk of the trading opportunities for short-term traders because it opens when the London trading session is also open across the Atlantic. Hence, if you overlay the trading volatility in a forex market hours chart, you can see that it spikes up when trading begins in the financial center located next in the time zone.
And so Overlapping hours of the London trading session and the New York trading session is the best time to trade forex, since the market is most active. The Choice of Your Forex Market Hours Depends on Your Strategy If you are a swing trader or a trend trader who likes to keep positions open overnight or several days at a time, then paying attention to the forex market hours chart in figure 2 may not be that important.
However, most Forex traders are day traders and different trading sessions based on the time zone and geographic location of the financial centers around the world will have a substantial impact on the bottom line. While the actual trading strategy you have may not change, knowing when to trade can certainly help you stop wasting time looking for trades when are no trading opportunities in the market. Furthermore, success in Forex trading in highly depends on timing, as trends can often reverse and wipe out the profits in your open trades.
Knowing when to enter and exit the market based on active Forex market hour can have an immensely positive impact on your profitability and aid in building the confidence you need to succeed in this agile market environment.
Let's take a look at three major Forex market hour-based strategies you can apply today to improve your win rate and increase profitability.
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