There are so many tricks and techniques to learn about successful trading in the Forex market: XAUBOT Pro. Perhaps you think everything is in the market analysis and price analysis. All the charts and figures and formulas that you would need to carry out precision analysis with reliable patterns and such. While that all might be true, there is one aspect of trading that you might overlook. And that is the time of trading in the foreign exchange market.
That’s right, time can play a seriously important role in the outcome of your trades in the forex market. If you do not get the timing right, then even the best market analysis might not be able to help you in that situation.
That is why in this article we want to show you how XauBot Pro, an intelligent trading tool that is compatible with all currency pairs in the forex market, can help you with the timing aspect of forex trading.
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XauBot Pro’s Time Zone Parameter: Helping You Through Auto Detection
First and foremost, we want to discuss how XauBot Pro can help you with the aspect of time and timing in the foreign exchange market. As we briefly mentioned in the intro, the concept of time is one of the aspects of forex trading that is usually overlooked or at least underrated by traders. But it is very much so important nonetheless.
Time itself is not important on the surface. It is what the time represents.
The time represents the sessions in which you are trading at any given moment. The time also represents the number of market participants or traders, ergo the trading volume that is being registered and by extension of course the volatility, liquidity, and all the other criteria that are tied to the notion of trading volume and the amount of trading activity in the market.
This is precisely the reason you should pay attention to the time of trading in the forex market. Because you might have the right strategy and all the bits and pieces figured out just right, but if you are executing them all at the wrong time and in the wrong trading sessions, then you will never be able to obtain the same results had you considered time in the first place.
But as you know XauBot Pro is an automated trading tool. This means as the trader you need to be able to delegate the task of trading in the forex market completely and wholly to this expert advisor. So this means XauBot Pro should be able to take care of the time situation for you as well. And of course it does.
There is a parameter built into this smart and intelligent EA that can help you become relieved of all the worries about time zone and forex trading sessions.
The name of this parameter, as you will be able to find it when you are setting up the expert advisor, is Auto Time Zone Detection. And it basically does what it preaches!
The auto time zone detection feature will allow the expert advisor to automatically pick on the time zone in which you are present at any given moment. Similar to most of the other parameters that are built into this EA, the auto time zone detection is also a choice for the users. This means as the user you get to decide whether this option should be active or not.
If you choose to leave this option as true, in other words if you choose to implement this feature, then XauBot Pro will be able to automatically detect your time zone.
In this way you will never have to input the time zone manually. So it doesn’t matter where you are or how much you move around the world. If you have a busy schedule where you have to go to different cities and different countries, then you will never need to input the time zone manually. Just like all the other trading processes required to be successful in the forex market, you can leave this task to XauBot Pro as well.
This is how time management becomes ever so simple with the auto time zone detection parameter of XauBot Pro.
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What Is the Best Time Zone to Trade in Forex?
So far we learned that XauBot Pro can automatically pick on your time zone for you. But now a question that might have come to your mind is this: is there a “best” time zone or session for trading?
The answer to this question is not so simple. Because there might be more than just one right answer. This means the best conditions for trading are found when two sessions or basically two timezones for forex trading merge with each other. They do not exactly merge. They just happen to coincide.
This is known as an overlap in the forex market. An overlap is when two sessions are active at the same time. This only happens when the final hours of a session coincide with the beginning hours of another session.
These are usually short overlaps ranging from 1 to 4 hours ordinarily. But they create such fertile ground for trading!
Two good examples would be the overlap between the Asian and Pacific sessions and also the overlap between the London and New York sessions.
When this happens, it is also a good idea to go for the currencies that are related to those sessions. For instance, in the overlap between the Asian and Pacific sessions, it would be a good idea to go for pairs that include relevant currencies such as the Japanese Yen (JPY) and the Australian dollar (AUD).
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Conclusion
The notion of time and time zones in the forex market are usually overlooked by traders. But they are important nonetheless. If you do not have the time to keep paying attention to time, then just leave it to XauBot Pro!
XauBot Pro has a feature known as Auto Time Zone Detection, which if enabled will instruct the EA to automatically pick on your time zone without the need for your manual input.
