07/08/ · In summary, the best time to trade Forex in Nigeria is during the day between A.M. and P.M. local time on Tuesdays and Wednesdays. Share this: Twitter 28/12/ · Though forex is open 24hrs but the best time to trade is between 6am- 10am nigeria time. watchout for breakout on the major currency pair and you are for more than 40pips before any retracement or trend change. u've made your pips b4 major eco. news 27/12/ · Best Trading Time for Forex Day Traders The Forex Market trades for 5 days in every week from Monday to Friday. Within the 5 days, market price moves round the clock 24 hours every day with each day’s candlestick closing at 10pm or sometimes 11pm depending on the season of the year
Common tips on how to select Forex trading time in Nigeria
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 you 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 the best time to trade forex in nigeria, 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, the best time to trade forex in nigeria.
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 to 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. 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, the best time to trade forex in nigeria. 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. NG is an Investment Comparison website with an aim to help Investors in Nigeria find the best forex brokers. Read More. Read full risk disclaimer. NG: Your Guide to Forex Trading in Nigeria. All Rights Reserved, Best time to trade Forex in Nigeria. Navigate Forex Trading Forex Trading Tutorials What is Forex Trading?
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, time: 10:25Best time to Trade Forex in Nigeria (plus Market hours) - blogger.com
28/12/ · Though forex is open 24hrs but the best time to trade is between 6am- 10am nigeria time. watchout for breakout on the major currency pair and you are for more than 40pips before any retracement or trend change. u've made your pips b4 major eco. news The Best Time to Trade Forex in Nigeria Many brokers wonder what period it is better to trade in Nigeria to get profit and regularly increase the deposit. The world of finance is ready to open its doors for everyone, but there are still a lot of things to consider 07/08/ · In summary, the best time to trade Forex in Nigeria is during the day between A.M. and P.M. local time on Tuesdays and Wednesdays. Share this: Twitter
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