FOREX clock is an essential tool every FOREX trader must use in order to observe forex sessions properly. If your strategy is not tied to a particular time interval, and lets you enter the market at different times, you need to have a FOREX clock.
FOREX market is the most active when FOREX sessions overlap. For instance, American and European FOREX sessions overlap between 12:00pm – 4:00pm GMT. If you trade in the time interval, you must be cautious, since the strongest market movements often happen during this time.
Opposite is also true. If you expect a strong trend to begin, don’t expect this to happen by the end of American session when Asia hasn’t started yet.
To know exactly where I am trading, I use a free FOREX clock that shows the current GMT time, FOREX sessions, session overlaps, and the point where I am trading on the FOREX session timeline.
This free FOREX clock is very simple, and strait-forward. You can download it now by clicking on the Download button below this post.
One of my successful strategies is based on FOREX clock. I choose the less active time intervals called inter-session flats, and trade in channels of around 25 pips in the direction of the current trend. When sessions start to overlap, and market starts to move towards the current trend, I just leave my position open with a trailing take profit order.
Every day, this simple strategy lets you collect 2 – 3 times by around 20 pips plus 50 – 100 pips one time by staying open in the direction of the current trend.