Forex Market Hours
Are Your Forex Charts Set To GMT?

Recently I came across a Forex Market Hours Geru who tells an interesting story abut how to trade the Forex markets. He offers up his advice and makes it sound like it is the very best advice one could give or receive.

Here is what he said, "Forex market hours are open 24 hours a day. It provides a great opportunity for traders to trade any time of the day or at night. However, although it seems to be not very important at the beginning, the right time to trade is one of the most crucial points to be successful in trading at the forex market. So, when should one consider trading and why?

The best time to trade is when the market is the most active and therefore has the biggest volume of trades. More active currency moves will create a good chance to catch the trade and make some profit. A calm, slow market is literally wasting of time, turn off your computer and don't even bother!" What he wrote is all false.

I got thinking about all that and decided to do some investigating. What I found out was very interesting. But, first let me point out one important fact. The #1 site that made the above statement does not trade the Forex and his website is plastered with links to get you to click on Google ads and affiliate links. The guy is attracting you to his site because you want information about Forex Trading Hours and then he feeds you with some very limited mis-information; just enough to "make" you want to click on all the links on his page so he can make some money off of you.

Here's the Real Story: John Needham who runs thedanielcode.com website trades the Forex. He does it for clients and he does it with subscribers. He backs up all his information with proven systems and results. John Needham trades the Forex market hours 24 hours per day for the entire time the Forex markets are open.

Here is what John wrote to me earlier:

"Forex market hours runs on Greenwich Mean Time (GMT). Genesis Forex charts run on GMT. Almost all other charting programs and platforms run on their local time, so FXCM as an example (they are the worst trading platform I have come across), end the trading day at 4:30PM US ET. As an example.

That means that if the true high or low of the day happens at say 5:15PM US ET, FXCM will not capture that price high/low in their daily bar, so if you are buying the high/low of a daily bar from an FXCM chart or price feed, you are likely buying into what is really an inside bar; and that is the worst mistake that traders can make.

Similarly, if the daily bar on your charting platform doesn't start at the right time then the 720m and 240m bars will be wrong also and the stochastic entries that we use will not work."

Call your broker today and ask him if the charts you are using to trade by on his Forex trading platform are set to Forex Market Hours -- GMT? When he tells you that he has no idea what you are talking about then ask him to explain to you how his charts can be accurate if the Forex time is set to GMT and his charts are not.

Its that simple!....

By the way, ask your broker to set you up with 240 minute charts and 720 minute charts along side you daily charts so that you get the very best forex tick timing available. And so you can see the whole picture.

May I suggest that before you give your broker any more Pips or Ticks that you check out Thedanielcode.com website and learn  ore about Forex Market Hours. Please remember that the Forex market is the only non-regulated market on the planet.

John followed his email up with another interesting fact:

"Ah yes. My friend and Daniel Code member David H from Blair, Nebraska, who I think you met briefly in Colorado Springs has owned and run IT companies for many years. And he too was convinced that he could set the correct time on Trade Station. He doesn't think so now!" Trade Navigator is the best forex trading software ever developed.

We went ahead and did some more investigating and have put together a short comparison on Trade Navigator that runs on GMT along side of Esignal and Tradestation. Click here to see what we found. After you see the information you can get a free 30 day trial on Trade Navigator. 

I have been a Daniel Code Member for over a year now and Get your Free 30 day trial of Trade Navigator. All you ever need to know about Forex Trading Hours is when they open and when they close and know for sure that when you have a platform that trades that market 24 hours per day when they are open is the most important trading tool you can have.

There is absolutely no reason why you should not be trading on correct Forex market hours with a platform that will allow you to that straight from the chart. It is simple, accurate and fun to do. Try it Free here.

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