There are two groups of traders who ask about Forex sessions. The first group are so new to Forex trading and know almost nothing about the basics, and “Forex sessions” is one of the things they want to know. The second group know what Forex sessions are, but they want to know about the exact start and end time of the Forex sessions.
When you start learning something new, it is very important where to start and to whom you listen to. Starting from a bad point and absorbing bad information can create bad impressions and thoughts that are sometimes impossible to change. It is the same with Forex trading. Many of those who sell the Forex trading courses, eBooks, mentorship and…, are not professional Forex traders. Many of them have never made any profit even with the demo accounts. To these people, Forex trading is just a good opportunity to sell something to people like you and make some money.
What Are the Forex Sessions?
- Sydney: From 4:00 PM 1:00 AM (EST)
- Tokyo: From 6:00 PM 3:00 AM (EST)
- London: From 3:00 AM 12:00 PM (EST)
- New York: From 8:00 AM 5:00 PM (EST)
The question is are these Forex sessions really important?
The answer is NO. Following the Forex sessions for the novice Forex traders means loss, because they can only use it for day-trading which is nothing but a mistake. I have always repeated that I have never seen a consistently profitable Forex or stock day-trader. Those who try to make money through day-trading and trading in the Forex sessions, only waste their time and money. They lose and lose and lose and will finally give up on Forex trading. If you are among those who want to try this, you can do that, but I am sure you will regret it also. Day-trading doesn’t work. This is the fact that you have to accept. It is possible that you make some money for a limited time (which is also too hard to happen), but you will be loser in long-term. You can’t be a consistently profitable Forex day-trader. That is it.
Forex sessions makes a lot of money for the market maker brokers who always advertise the best spreads and prices during the different Forex sessions. They push their clients to sit at their computers during the Forex sessions and take as many positions as they can. The more positions that the poor Forex traders take, the more money they will lose, and this means more profit for the brokers.
Forget About the Forex Sessions
Many of you are new to Forex trading and you have a lot of hope to make money through it and even become millionaires. However, have you ever thought that what you think, can be wrong and Forex is not what you think and it can’t make money the way that you think it can?
You can make money through currency trading, but not the way that you think. The first and most important thing that you have to consider is that you can’t make money through Forex trading if you don’t have a good backup and a reliable and strong source of income. You can’t make a few hundreds of dollars through Forex day-trading and following the different Forex sessions to supplement your income. The retail Forex brokers who are mainly market makers, don’t let you do that. You can’t open a $500 account and make $100 per day consistently. There are so many reasons to support this. I have already talked a lot about this wrong impression that new Forex traders have.
There is only one way of making a reasonable amount of profit through Forex trading. It is the same with the stock trading as well as any other investments like real estate investing:
You have to have a reliable and strong source of income that makes money for you every month consistently. If so, you can invest a portion of the money you make to invest in Forex, stock and real estate markets to make more money and increase your wealth. This is the only way that it works:
- The Easiest Way to Get Rich Fast
- How a Reliable and Strong Source of Income and Proper Investments Make You Super Rich
When you have enough money and you have a good income, you can open a trading bank account and trade currencies and stocks through your bank account, not through the retail Forex brokers that are mainly scams:
If so, then Forex sessions will have no use for you, because you will have to trade the long time-frames like daily, weekly and monthly. That is the best way of trading and only those who trade this way will make profit really. Those who think that trading the longer time-frames can’t make enough profit and following the shorter time-frames through day-trading and following the Forex sessions is better because they will have more trading opportunities, are absolutely wrong. While a trade setup on the 15min chart can only make 60 pips (if it really makes), a good and strong trade setup on the monthly chart can make thousands of pips: Monthly Time Frame Is the King
Besides, day-traders have to sit at the computer during the whole Forex sessions that they choose. But swing traders who trade the longer time-frames, don’t care about the Forex sessions and they don’t have to sit at their computers for several hours per day. The just check the charts once every day, week and month. Each session doesn’t take them more than 15-30 minutes. Besides, they see the forming trade setups several weeks before they fully form, and so they will have a lot of time to research and get ready to take the proper positions, whereas in day-trading you can easily miss the trade setups that you have been waiting for them for several hours.
Following the Forex Sessions Is a Big Mistake
Instead of following the Forex sessions that takes a lot of time and energy from you, you’d better to think about creating a reliable and strong source of income for yourself first, no matter if you already have an income. I am sure many of you have a source of income, but the problem is, it doesn’t make enough money and you can hardly make a living through it, let alone making a fortune and getting rich. It is your right to become rich and financially free. I know you always think about it and maybe that is why you are here, because maybe you have been dreaming about making a lot of money and becoming rich through Forex trading.
So you have the enthusiasm and the energy to take actions to get rich. But the problem is you can’t find the right way and the scams and crooks try to make some money out of your desire to get rich. That is why you get deceived by the Forex brokers and you believe what they says about the Forex sessions and day-trading. You will find out that what they say doesn’t work only after losing a lot of time and money.
Instead of wasting your time on following what the scams teach you to make money through you, try to start a real business that makes real money. Following the Forex sessions looks promising at the beginning, but is nothing but a trick in reality.
If you have enough money to start a business, I suggest you to start a business that follows the proven business plans like what the strong franchise companies like McDonald’s do. The reason is that you will have a much higher success rate. It is a lot better than running a business that has no clear business model and has never been tried and approved by the others: Following a Proven Business Plan Is the Success Key
If you don’t have a lot of money to start a business like McDonald’s, then you can start an online Data Technology business that although it doesn’t need a lot of money to start, it can make much more money than the businesses like McDonald’s while you don’t have to work hard and you can work from the comfort of your home and with your laptop.
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Turn the Forex Sessions to Your Success Sessions
Long story short… sometimes you find so many ways toward a special goal, but only one of of them is the right way that works. The other ways are wasting of time and money. Instead of following the Forex sessions to make the brokers rich, start your own business to make yourself rich. Then you will have the chance to invest in currency, stock and real estate markets to increase your wealth and become multi-millionaire.
Forex sessions are nothing but some tricks to take some money out of your pocket.