3 rows · The foreign exchange market is open hours a day, with the exception of weekends. As one London ( – Nigerian Local Time) London dominates the Forex market place, so the larger moves are often started during this session. The London open at GMT is often a turning point for the day’s trading activities, and large trending moves can frequently be observed during this session 5 rows · 13/09/ · But the most heavily traded period in the forex market is when the London and New York
Instaforex Nigeria | FOREX MARKET OPEN & CLOSE TIMES ( WHY IT MATTERS )
Forex market is open 24 hours a day and for 5 days in a week. In a way, you could say that it is a market that never sleeps. For day traders this presents with so many opportunities to place trades or make profits during any time of the day. But, this does not mean that when does london session forex opens in nigeria time should trade anytime! Forex Trading time has been divided into different sessions, and not every time is the best to open or close your trades.
There are times during the day when the currency prices are trending but there are quiet hours as well. Price action in forex depends on the volume and volatility in the market. In the forex market, volume refers to the number of lots being brought or sold in a particular currency. And volatility refers to the speed at which price moves. The goal here is to pick the most suitable time to trade based on your trading strategyand get the most out of your trades.
A global forex market can be split up into three sessions. There are three major forex trading sessions in the world — The Asian Session, European Session and American session. Major financial hubs in the world represent these 3 Trading sessions. The markets function when these three sessions are in business and, the financial institutions, banks, corporations etc.
conduct their major transactions during their time zones. Forex Market Hours are similar to local business hours, i. the open time and close time range. So when the New York Session opens the London session is in progress but almost about to close. Hence the changes in price are visible in the market during sessions with high trading volumes. There are times when trading sessions between Tokyo, London and New York overlap, and volume spikes are visible during these times since traders from both the time zones are active during those hours.
While trading forex it is essential to understand the features of each trading sessions. It is open from AM when does london session forex opens in nigeria time AM. Globally, European session is the largest financial session in the world. The London market opens at AM and closes at PM Nigerian Time. After London, New York is the Second largest session in the world. Major participants are traders from America and Canada.
The forex market in New York session is open from PM to PM Nigerian Time, when does london session forex opens in nigeria time. Nigerian traders should trade during the opening hours of the London session — AM to early New York session hours till PM Nigerian time.
So it is perfect time for day trading. In general, the hours to trade forex will also depends upon your trading strategy and currency pairs that you want to trade.
For example: If you want to trade JPY then you might want to trade during the Asian session as well for picking the movements. So practice first on demo account to figure which hours of the day best suit your trading strategy. Only after you have found a working strategy, you should then trade live in those hours.
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Forex Market Session Opening \u0026 Closing Time - Forex Market Timing In Pakistan - Forex Trading Hours
, time: 3:47Best time to Trade Forex in Nigeria (plus Market hours) - blogger.com
3 rows · The foreign exchange market is open hours a day, with the exception of weekends. As one London ( – Nigerian Local Time) London dominates the Forex market place, so the larger moves are often started during this session. The London open at GMT is often a turning point for the day’s trading activities, and large trending moves can frequently be observed during this session 5 rows · 13/09/ · But the most heavily traded period in the forex market is when the London and New York
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