MUST Consider Forex Market Hours/Overlapping Sessions/Volatility/News before any trade.

Because of the overlapping of the time of Forex Markets all over the world one or the other market is open at any particular time. That's why it is literally called 24/7 so any currency can be traded 24 hours a day and anytime. But practically the brokers are closed at the weekends from Friday afternoon 4:00pm Eastern Time to Sunday afternoon 5:00pm Eastern time or we can also say Forex trading hours are 22.00 Sunday UTC to 22.00 Friday UTC (Universal coordinated time) which was former known as GMT or Greenwich Mean time. Also there are some major markets in which the volatility is good and there are more opportunities for profits so setting up your time according to that is the best way to be successful.

We MUST consider before taking any trade:-

1. Consider how many markets are open worldwide at the time you open any trade.
Taking all the markets under consideration is practically impossible so we should at least take the major Forex markets in account to trade. E.g. New York, Tokyo, Sydney and London. These are the 4 major markets we must target. The market hours of these currencies are as follows:-

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2. Consider how Many overlapping markets are open before taking any trade.

More the Overlapping Sessions more the Opportunities.

3. Consider the impact of that market on the volatility.
Some of the markets have better impact on certain currencies than on others. We should also consider that and choose the session appropriate for your trading style. The most influential currencies in the Forex market are USD and EURO they are traded almost 3 times more than the other currencies.
4. Consider the time of that market when they trade the most?
Most of markets have more volume of trading at the starting few hours and at the closing time of that market.
5. Apart from timing is there anything else which makes a significant effect on the market?
Yes. The “NEWS”. Never underestimate any news. Be informed well about the potential and the risks of that news on the currency. News can Make you or Break you. Keep your stop loss tight enough according to your appetite or else stay away from it if you are not comfortable.