24 Hour Trading Window
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Forex Market operates 24 Hours.

Active trading sessions in each countries financial centres around the world take place from Sunday 5.00 PM EST to Friday 5.00 PM     EST .For the major financial centres, trading starts in Sydney, then moves to each financial centre in this order, Tokyo, London, (and Europe), New York.The daily session for daily chart purposes "ends"  at 5.00PM EST (Coincident with the New York close), but the  market does not actually close.

Here are the time intervals for each of the major financial centres expressed as EST.

Sydney session starts at 5.00 PM and ends around 2.00 AM                  Tokyo session begins at 7.00 PM and ends around 4.00 AM                  London opens at 3.00 AM and ends around 12.00AM                              New York session opens at 8.00AM and ends around 5.00 PM

A TYPICAL TRADE SCENARIO.

Let us say the current bid/ask quote for EURUSD is 1.3802/05 and you want to buy the pair because you think the Euro is going to gain on the US dollar. So you buy a standard lot.When you do that you are actually buying 100,000 Euros (1 standard lot) for 138,050 US dollars (100,000x1.3805).At 100:1 leverage your initial margin deposit would be 1,381 US dollar for this trade.

So in our example, let us say the Euro pair goes up and is now trading at 1.3865/68 and you decide to sell and take profits.You would then sell your one stndard lot.When you do that you are actually selling 100,000 Euros(one std lot) for 138,650 dollars (100x1.3865).Since you bought 100,000 Euros for 138,050 and sold them for 138,650 you made a profit of 600 US dollars Or 60 pips.

If on the other hand the Euro pair went down to 1.3775/78 and you sold at 1.3775, you have a loss of 300 US dollars                                        ( 1,38,050-137,750).And again, if the account equity fell below the margin rquirement, the trade would be automatically liqidated.However this should never happen to you if you follow sound risk mangement rules.

You need not have to worry about all these calculations for all forex trading platforms do this job for you.You should only need to have a basic idea of how all this is being worked out.Practice and experience cannot be rplaced by any amount of reading.Hence it is better to open a demo account with any of the good market makers to learn and practice the forex trading.

The Best forex Pairs to trade.

All forex pairs are not suitable for trading.What we should be looking for as traders are liquid market that have sufficient price movement to make a trade worthwhile.With that in mind, the following pairs are the most widely traded pairs.

EURUSD (Euro/US Dollar)                                                                                      GBPUSD (British Pound/US dollar-often referred to as CABLE)             USDJPY (US dollar/Japanese Yen)                                                                     USDCHF (US dollar/Swiss Franc)                                                                         USDCAD (US dollar/Canadian dollar)                                                             AUDUSD(Australian Dollar/US dollar)

And to further  simplify forex trading, you could easily limit your trading to the most liquid and widely traded pairs, the EURUSD and the GBPUSD.This really starts to reduce demands on your time for trading activities without giving up good profit potential.