Another reason this Session is very busy is that it overlaps with New York Session by 3 hours. Therefore, the market trades two Sessions at a time for 3 hours.
Financial news and reports from the European countries such as Germany, France, and others usually cause a spike in the market during the London Session. This session is the second largest in the world of forex. It is one of the best times to trade forex in Nigeria because the market moves at a very large distance in this session. The major players in this session are traders from America and Canada. By Nigerian time, this session opens by PM and closes by PM, which marks the end of the day trading and the beginning of a new trading day.
The overlapping period between the London session and the New York session provides the biggest liquidity in the market. Also, daily trend reversal or continuation usually occurs during this forex trading time.
Best Time To Trade Forex In The UK | Trading Education
I will like you to understand that knowing the exact time to trade forex does not guarantee profitability. A lot of factors determine how profitable you can with trading such as money management, and your psychology of trading. The most important thing is to define your trading purpose and stick to a strategy that works. Patience is highly needed on your own part to make it in forex trading. Always remember that the market has come to stay, therefore you should trade to survive.
So far, I hope you have understood that there are opportunities at any given time in the forex market. A very big lesson to take home here is that there are active moments on the market, which are the London and New York sessions. To be profitable entails trading according to your own stipulated rules, and strategy. So, every time is the best time to trade forex in Nigeria provided you understand how the market works.
Hello Miracle, I am convinced you have a strong hold on forex trading and forex trading matters. I believe you will help to improve my forex knowledge and practice. Kind regardds, Uche Amadi. I am ready to help you out once you are ready to pay the price. I said so because most people come to learn without any commitment, but they were the first to pay their school fees.
This article is very Good. I really appreciate it. If they trade outside these hours, the pip movement is usually not enough to compensate for the broker commissions. Though the forex market volatility varies daily, the timings when the markets are most volatile do not change. In some areas, daylight saving time may affect the trading hours for forex traders. Though a forex trader can start trading in the 13 hours starting from hours GMT, most people have a busy schedule and cannot spend all their time in forex trading.
Forex Market Hours in Nigerian time Zone (Trading Sessions)
Hence the forex traders would like to find out when the market is most active. Typically, the market is most volatile when both the London and New York forex markets are open for three hours between to hours GMT according to statistical data. Since the number of forex trades in both the markets is high, the spreads are the lowest, making it is easier for a forex trader to make a profit since he has to pay lower commissions. Breakouts traders need to wait for important news or period when the trend is consolidating. Scalpers can use Asia session small volatility to make better profits.
Of course, all these tips are not rules, and different strategies and trading habits can give various outcomes. Author Recent Posts. Trader since Currently work for several prop trading companies.
Forex Trading Sessions, Best Time To Trade Forex Market
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Forex market hours: when is the best time of day to trade forex? Rebecca Cattlin February 25, PM The forex market is the largest and most active financial market in the world, known for its round-the-clock trading. But when exactly does the forex market open and close? Discover global FX market hours and when the best time to trade forex is.