Exchange Traders Review – Live Trading Sessions

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Exchange Traders Review – Live Trading Sessions

UPDATE 29.12.2020: This service is no longer operational. Links might point to a similar service. This is a review of live trading sessions called Exchange Traders that is run by the same traders who gave us NightOwl signals. This is the first fully dedicated binary options trading service focused on Nadex. For those who don’t know, NADEX is the only regulated options exchange in the USA.

This is very significant because this makes it completely legal to use for US citizens. It is much better to trade with regulated broker as it offers a high degree of assurance that the broker is being watched by an outside regulating body. It also means that channels of filing complaints are in place and can be acted on in case of malpractice.

Trading Live

The people behind Exchange Traders created a service to meet user feedback. There was a need for a service that would deal only with Nadex. Trading on their platform is a bit different from trading on other binary options brokers. The interface is unique and there are additional functionalities and options available.

Fortunately, both Nadex and Exchange Traders, provide full explanation and guidance for beginner traders using their platform. Also, the live video feed show users exactly what the trader is doing and how he is doing it. High definition quality streaming makes viewing the live sessions very easy and Chris tries to describe everything in real time.

Trading only 1 Hour a day from 8:30 AM to 9:30 AM EST

The live trading sessions start at 8:30am Eastern Standard Time and last until 9:30am. Some may argue that trading one hour a day is not enough but the truth is that trading for an hour a day can bring consistent profits with the right system and concentration.

We’ve tried the system and trading one hour a day feels right, especially for those who can’t or don’t want to spend long hours in front of their monitor screen following the price action.

Let’s face it, not everyone who wants to make money trading short term options wants to do it professionally. There are those who love their day jobs.

Most traders want to supplement their existing income with a few trades per week. If you fall into this category, and you live in the US, Exchange Traders should be the right service for you.

With win ratio above 75% the aim of the trading room is to finish every week in profit. Chris talks about upcoming news and economic releases and looks at various technical indicators on his charts.

He explains everything quite fluently and there is a chat line open to ask questions.

This video will show you how easy it is to follow Chris in his live trading room.

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A few final words

Some may argue that trading one hour a day is not enough but the truth is that trading for an hour a day can bring consistent profits with the right system and approach. The professional traders behind Exchange Traders, having on offer two other live trading sessions, namely 2 hours during the the US and Asian sessions, are very experienced in what they do.

They understand the public demand and use of such live trading sessions and they do their best to meet the expectations of their subscribing members. The ‘hands on’ teaching experience coupled with a live streaming is really an eye opener, especially for beginning traders.

For those who live in the USA and want to try to trade binary options with a regulated broker, the Exchange Traders offers the opportunity to learn how to use Nadex’ unique trading platform.

However, the most important aspects of Exchange Traders are the live technical analysis, on-point market commentary, and last, but certainly not least, the winning signals and trades which you can copy on your own account in real-time.

Link points to a similar service. Exchange Traders is no longer available.

Forex Trading Sessions [Best time to trade]

Forex market never closes. There are three major forex trading sessions and each of them starts during different times of the day. For example, when the New York market is going to end, Sydney market opens its day. The presence of different trading sessions influences the market movement. For example, when US and London session overlap, liquidity is a lot higher.

Asian session

Asian session begins at 12 AM GMT when the market in Tokyo opens. It is important to note that Tokyo is the third largest financial center in the world and Yen is the third most traded currency. About 21% of all Forex transactions happen during the Asian session. A lot of Forex transactions also happen in major financial centers like Hong Kong, Singapore, and Sydney.

The trading week starts with liquidity coming from Wellington, New Zealand. Price movements are less volatile, and average hourly moves are smaller – support and resistance have a tendency to hold more consistently. The currency pairs belonging to Asia Pacific such as AUD/USD and NZD/USD have stronger movements than other non-Asian currency pairs. News releases from Australia, New Zealand and Japan come out during this session.

London session

Liquidity begins to increase in the Forex market around 3 AM ET, as London session opens. The largest portion of liquidity for this session comes from London. Due to the liquidity coming in from London, the average hourly move of major currency pairs like EURUSD is likely to increase. There are fast and active moves in Forex market during the London session. About 30% of all Forex transactions happen during the London session.

Since London session overlaps with the other two sessions, a lot of Forex transactions have happened during this session. The liquidity is very high and transaction costs are very low, resulting in lower pip spreads. Most of the trends begin the London session and they may continue until the start of the US session.

US session

The US trading session is very dynamic. It begins at 8 AM EST. It behaves like London Session when it begins, but behaves similar to the Asian session towards the end. Volatility is high in the morning when it overlaps with the London session.

When the London session begins to close at 11 AM ET, the volatility in the market starts to decline a lot. It is recommended to trade breakouts during the early part of the day and trade ranges during the latter part of the day when the market is less volatile. During Friday afternoon, market movement is very little.

Most of the economic releases are released at the beginning of the US session. Since any major US economic data has a huge impact on the market, it is very important to check the economic news.

Forex – The Market which is open 24 hours a day

Unlike other markets, the Forex market is open 24 hours a day. To Forex traders, this gives a lot of advantages which are not available in the other financial markets. So, no matter where the traders are in the world, they can trade Forex by taking advantage of many things such as global trade opportunities and session overlaps.

Since there are different trading sessions available, traders can pick their trading times according to their schedules. Unlike stock trading, Forex traders can exit a trade anytime to avoid any sudden changes caused by a news release. Trading opportunities are available at all times of the day too. This freedom does not exist in other financial markets.

When two Forex trading session overlaps, there is always a huge volatility. The most volatile Forex market conditions happen when the Sydney and Tokyo equity trading sessions overlap, the Tokyo/London overlaps, and the London/New York overlaps. Forex traders can take advantage of such market overlaps. Every trader should remember that volatility is a very important factor in Forex and make use of the periods when there is maximum volatility.

Three major forex trading sessions

Three important trading sessions that play a major role in the Forex market are the Tokyo Trading Session, the London Trading Session, and the New York Trading Session. As we saw already, the market is very active when the trading sessions overlap. Here is a quick summary and the details of the timings of the trading sessions. All timings are given in the New York time zone.

Best Forex trading sessions

Tokyo Trading Session lasts between 7:00 PM – 4:00 AM EST. Tokyo is the first market to open.

London Trading Session lasts from 3:00 AM EST to 12:00 PM EST. Traders should remember that London is the largest and most important trading center in the world and it is more volatile than the other two sessions.

New York Trading Session occurs between 8:00 am – 5:00 pm EST. This is the second largest trading market in the world, next to London. Needless to say, most of the transactions happen during US/Europe overlap.

Here are the timings for the two major overlap:

  • US/Europe overlap – 8 AM – 12 PM EST
  • Europe/Asia overlap – 2 AM – 5 AM EST

Confused about how to choose a currency pair? Read here.

Trading Sessions

Now you are a bit closer to forex: you know what it is, how you can benefit from it and who the market participants are. Let’s see when you can trade.

Do you remember what you previously learned about the advantages of forex, telling you that the market is open nonstop? Yes, the forex market is open 24 hours a day – allowing you to trade at any time of the day or night. You can trade 24/5 between 22:00 GMT Sunday – 22:00 GMT Friday.

There are 4 main forex trading sessions with opening/closing hours based on the biggest financial centers.

Time Zone GMT
Sydney Open
Sydney Close
22:00
06:00
Tokyo Open
Tokyo Close
00:00
08:00
London Open
London Close
08:00
16:00
New York Open
New York Close
13:00
21:00

*GMT (Greenwich Mean Time)

When to Trade?

Time is money. For this reason, in the 24-hour forex market, timing is critical. Good timing produces good profits. Yes, but which are the best hours/times to trade?

The hot zone is between 13.00 GMT and 16.00 GMT. This is the time when the London and New York sessions overlap.

What makes these hours powerful? Volume and volatility, because they reach their peak during these hours! During this time, the market is busy with active participants, currencies move very quickly, and the most important economic news is also published in this time period.

Volume means that a large number of lots are sold and/or bought for a particular currency pair; while volatility means that the price moves at a great speed.

Volume and volatility during power hours work like gasoline and a spark of fire. In a good way, though! What’s more, they may cause large movements in almost all currency pairs.

Which Currencies to Trade?

The currencies that you can trade because of their high activity and large movements are as follows:

  • EUR/USD
  • GBP/USD
  • USD/CHF
  • USD/CAD
  • GBP/JPY
  • GBP/CHF

Now let’s look at the characteristics of each of the trading sessions.

Asian Session (22:00 – 08:00 GMT)

The Asian session begins with the Sydney open (22:00 GMT) and ends with the Tokyo close (08:00 GMT).

Japan is the world’s third largest forex trading center and even though we call it the Tokyo session, this is not the only busy forex hub during this period. Hong Kong, Singapore and Sydney are active players here, too.

The most traded currency is the yen, of course, covering 16.5% of all forex transactions.

Now let us have a look at the main features of the Tokyo session:

  • Approximately 21% of all forex transactions are carried out here
  • Liquidity (i.e. currency sold without causing significant price movements) can be quite thin at times
  • Because of this thin liquidity most currency pairs will trade within a range, especially if there is a big move in the preceding New York session
  • Most activity takes place at the beginning of the session, as this is the time when economic news is released
  • As during the Asian session economic news from Australia, New Zealand and Japan come out, you will most likely see stronger moves in pairs that contain JPY, AUD and NZD.

London Session (08:00-16:00 GMT)

London is considered the capital of forex and although there are several financial centers all around Europe, it is London that attracts the main interest as the key financial center. It is no wonder because the London session:

  • Has a huge trading volume (over 32% of all forex transactions are carried out here)
  • Has high liquidity
  • Is the period with most market uptrends and downtrends
  • Has lower spreads
  • Volatility (i.e. overall price fluctuations) slows down a bit in the middle of the London period (for the simple reason that most traders are off for lunch) until the New York trading session starts
  • Market trends may at times reverse just before the session ends as European traders decide to lock their profits.

New York Session (13:00-21:00 GMT)

When the London session traders come back from lunch, the New York (US) session starts.

Features that mark the US session are as follows:

  • Roughly 19% of all forex transactions are carried out here
  • Big market-moving potential: 85% of trades involve the US dollar
  • High liquidity in the morning hours when it overlaps the London session
  • Most economic news reports are released at the beginning of the session
  • Liquidity and volatility decrease during the afternoon hours
  • Little movement on Friday afternoon + high chances for trend reversal in the second half of the day.

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