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One of the best things about forex trading is that market is open 24 hours a day and if you trade from the United States, you can start trading as early as Sunday afternoon or evening when the TokyoSydney session starts. And the 24-hour market is where lots of traders make the mistake of thinking that just because the market is open all day that great trading opportunities are present at every minute of each trading session.
That simply isn't the case and a lot of traders learn this lesson the hard way. This is also a valuable lesson for users of forex robots. Allow us to show you why.
Obviously, one of the reasons you may have purchased a forex robot is because you can't be at a computer to trade during parts of the trading day. Perhaps you don't want to come from work and try to trade the TokyoSydney session. There's nothing wrong with that and this is where having a forex robot can help you out. As long as your computer is on, your forex robot can be trading for you. Even if your computer is turned off and you've purchased the necessary add-on products, your forex robot can be trading for you, but is this a good thing?
Don't Let Your Forex Robot Trade All Day
As we mentioned above cheap air max shoes , there are preferable times of day to trade forex and there are other times when you should just sit on the sidelines. For traders in the US and Europe, it's not a bad idea to sit out during the TokyoSydney session and if you're using a forex robot, simply shut it off during this time or alter its settings so that doesn't trade during this session. Of the three forex session, TokyoSydney is the least volatile and the least amount of money changes hands during this session.
That's not to say there aren't good opportunities during this session, there are. So if you insist on using your forex robots during the TokyoSydney session, just make sure it's not over trading because there isn't a lot of volatility during this session and the trends aren't as strong. Forex robots rely on strong trends to deliver winning trades
The Preferred Times To Trade
If you live in Europe or have the ability to trade the London session cheap nike air max , good for you because this the most active of the three forex sessions. More money is transacted during the London than during the New York or Tokyo sessions. And this means that your forex robot should be working during the London session.
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