Understanding Forex Signal Service Time Zones

For an average trader, forex trading time zones can be intimidating and difficult . Like many others , when I started out trading this 24 hour global, cash market , the time zones issue never made a whole lot of sense to me . Over time that would change and here I’m going to show you some of the basics as to how I handle the 24 hour market and hopefully this will give you some help when getting prepared for another big trading day.

You first need to think about where you’re living , or where you plan to do most of your forex signal service trading from. This alone is the biggest factor affecting the way you look at this 24-hour market. For example, let’s say that you live in California on the West Coast of the United States in the Pacific Standard Time (PST) zone which is three hours behind East Coast time in New York.

Now that we know the trading will be done in California, which is 3 hours behind New York , we can begin to plan our forex signal service trading day. In this never sleeping 24-hour market (but gets very quiet on weekends and major international holidays such as New Years ) the trading day stops and resets with the New York financial centers closing at 5pm or close to that in Eastern Standard Time and the banking centers in the Far East like Hong Kong and Tokyo about the same time are opening and starting a new day . Keeping this in mind it’s best to have your trading charts set up so that the candle or daily bar use use closes each day at 5pm EST .

So now we’ve determined that we are trading from the West Coast in the US which happens to be three hours behind EST in New York and we know when the market resets and stops to start a new day . Next we have to decide when to prepare and plan for the next day . If California is where you live, as in our example here , and you like staying up late then the London session is what you may want to prepare to trade from about 1am Pacific Standard Time to 4am Pacific Standard Time . Or, maybe you enjoy your sleep and want to doze through the London session but getting up early is no problem , at about 4am Pacific Time so you’re able to see the London session end and prepare for the start of the New York session which gets going about 5:30am Pacific Standard Time, or 8:30am Eastern Time . Maybe you don’t like to get up early and so you’d prefer to be a middle of the day trader ; this is not a problem. Simply wait until about 2pm Pacific Standard Time when the day begins in Tokyo and you can do your trading during this session .

Now you clearly have knowledge of the major forex trading time zones and you can accordingly plan your days . Keep in mind , planning and being prepared are the most important factors, yet often overlooked of success in this business and any other business . Thinking this through you should be able to plan your forex signal service day.

Andy Owings – Drummond Geometry Master Analyst. Author of the Drummond Geometry Daily Forecast for Forex Signal Service & Futures Trading. Andy makes specific trade recommendations every day for 8 popular forex and futures symbols using the legendary market analysis techniques developed over a forty-year period by Charles Drummond and Ted Hearne. Drummond’s forex trading methods were featured in the first chapter of David Keller’s book published in 2007 by Bloomberg Press, “Breakthroughs in Technical Analysis – New Thinking From the World’s Top Minds” http://ift.tt/2h30N3L

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