Wednesday, 31 May 2017

How to Increase Profits by Targeting the Right Time Frame?

A unique aspect about Forex trading in Thailand is that it is a market that never closes. However, despite the market running twenty-four hours a day, the trading activity that a person undertakes needs to fall within specific time-frames. For these are the areas where the respective currencies are active and moving. It is important to seek out these time-frames for they provide the maximal room for drawing profit.

Global Markets and their Influence

This platform is a conglomeration of global currencies. As a result, the economic state of a country, as well as various financial indicators, have a major impact in the movement of respective currency values. As a result, the exchange is heavily influenced by the movement of various stock markets, which are viewed as vanguards of nations’ economies.

While the Thailand Forex is open all through the day, stock markets are open only at certain periods in various time zones. Based on the working of various stock markets, currency pairs will be triggered at certain points of the day. Traders need to align their operation with these active periods to obtain the best deal with these respective currencies.

Below are some of the profitable trade timings in the Forex exchange, and the currency pairs relevant to them.

1) The currency pair EUR/USD, or Euro against the US dollar, is one of heavy significance around the world. The optimal trading window for this Forex pair would be between 6 and 16 GMT (Greenwich Mean Time). Within this arena, however, the period between 12 and 15 GMT is considered the avenue for maximum productivity with respect to this pair.

2) The US dollar against the Japanese Yen, USD/JPY is also another widely sought after pair in this market. For both of the currencies, stock markets prevail over almost the entire twenty four hours. However, the area seen to bring the best activity in this pair is between 12 and 15 GMT, which would be considered the most effective route for traders.

3) The British pound against the US Dollar, or GBP/USD, is another lucrative affair in the Forex market. Fluctuations for this pair is seen to occur in two windows, the first between 8 and 10 GMT and the second between 12 and 15 GMT.

4) For people interested in the Australian Dollar against the US Dollar, or AUD/USD, there is lesser activity across the day. However, sparks of action fly between 12 and 15 GMT. Some observers also note increased movement around 1 to 2 GMT.

5) The US Dollar and the Canadian Dollar, USD/CAD, are fairly inactive throughout the day as well. However, there could be increased room for revenue in the window of 12 to 16 GMT.

At the end of the day, it is hard to predict where volatility and fluctuation of the currencies could arise. However, if you go according to the observed routes, the chances of enlargement of profits are higher. If you want more expert advice on trading in Thailand, team up with a leading brokerage firm to unleash your full potential. WesternFX has fielded this terrain for many years now, with clients across many countries. We can help you gain a keen insight into the working of the futures exchange to do away with risks and boost profits.