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Determining where to place a take-profit order is a crucial aspect of trading, as it involves setting a predefined level at which you will close a winning trade to secure profits. The placement of take-profit levels depends on your trading strategy, risk tolerance, and market conditions. Here are some common approaches to placing take-profit orders: It’s crucial to integrate take-profit levels into your overall trading plan and strategy. Consistency and discipline in setting and executing take-profit orders contribute to successful trading over the long term.

The forex market is open 24 hours a day, five days a week, starting from Sunday at 10:00 PM GMT (5:00 PM ET) with the opening of the Asian session, until Friday at 10:00 PM GMT (5:00 PM ET) with the closing of the New York session. However, it’s important to note that certain sessions and currency pairs are more active and offer better trading opportunities during specific times. Here is a breakdown of the major forex trading sessions: During the overlap periods, when two sessions are open simultaneously, trading activity and volatility tend to increase. The most notable overlap is between the European and North American sessions, from 1:00 PM GMT to 4:00 PM GMT, which is often referred to as the “power hours.” It’s worth noting that while the forex market is open throughout the week, trading volumes and volatility can vary during different times of the day. Traders often consider the market hours and session overlaps when planning their trading strategies and choosing currency pairs to trade. Additionally, it’s important to be aware of any adjustments to forex market hours due to public holidays or daylight saving time changes, as these can impact trading activity and liquidity. Traders can check their broker’s platform or refer to economic calendars to stay informed about any upcoming changes in trading hours. Overall, forex traders can participate in the market at any time during the week, but the most active and potentially lucrative trading opportunities are often found when major sessions overlap.