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The Importance of Time in Forex Trade Analysis Understanding why is an important lesson for any trader so that they can adapt their trading style to suit the market conditions. (Just remember to setup your alarm so that you can wake up to close the trades if you don’t want to pay swap.)ĭuring the week, the Forex market is open 24 hours per day, but not all times of the day are equal.
#Forex session times professional#
We actually find this strategy very workable for professional forex traders who do not need to keep glancing at the charts. Additionally, a lot of tradeable patterns form during this 4-hour window.ĭay traders can also enter into trades during this period and wait to close when the New York trading session is closing at around 5:00 and 6:00 AM.
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The overlap lasts for the next 4 hours, and this means that liquidity is at it’s peak since these are the two largest trading sessions in the world.įor scalpers, the 4-hour period presents an opportunity to make quick profits since spreads are at an all time low of the day. During this period, the London and the New York trading sessions begin to overlap, creating a lot of market activity and opportunities. The best time to trade forex in Nigeria is between 2:00 PM and 6:00 PM, Nigerian local time. What’s the Best Time to Trade Forex in Nigeria The middle of the week has also been noticed to experience more activity and trading in the markets than other days of the week, specifically Tuesday and Wednesday. This occurs at times during the day when the markets of several countries are open.įor each time zone, forex is traded 8am to 4pm and so to get the best forex trading times you need to know when the markets of different countries overlap.Īt these times there is more activity and fluctuations of rates and that increases the chances of making better profits. The best forex trading times to enter the market is when a number of exchanges or markets are opened and large volumes of currencies are being traded. For example if the US market closes, dollar can still be traded on other exchanges or markets around the world. So when one particular exchange closes the international forex market does not necessary have to close. It is also important that you understand market open time on Sunday (if you’re eagerly waiting to trade), and also the best days of the week to trade forex.įorex trading times differ from market to market or country to country due to the difference in time zones and because the international forex market is linked up not by one exchange computer but by a network of computers. In this detailed guide, we delve not only on what are the best trading hours in Nigeria, but also at what currencies you can trade during each session. To be profitable trading forex in Nigeria, you need to understand the forex trading sessions in Nigeria time, how each session behaves, and the best currencies to trade at particular sessions. What Time Should You Trade Forex in Nigeria?Īlthough the forex market is open 24 hours per day during the work week, not all trading hours and sessions are equal. Some hours and days of the week are known to present better trading opportunities and more profit. A forex trader needs to know the forex trading times applicable to the different forex markets and also the best times to trade during the day.