1/6/ · When can I trade Forex in Nigeria? As Nigeria is one hour ahead of London, and the best time to trade Forex is widely agreed to be during the New York/London overlap, followed by the later New York session, the best time to trade Forex in Nigeria will usually be between 2pm and 10pm local blogger.com: Adam Lemon 10/1/ · Many traders I have interacted with said that the London Session is the best time to trade forex in Nigeria. And their reason is that that is when the market moves greatly. In other words, there is usually more volume of currency in the market during the London blogger.coms: 4 What is the best Time to Trade Forex in Nigeria Nigerian traders should trade during the opening hours of the London session – AM to early New York session hours till PM Nigerian time. This is the time when the liquidity is highest for major currency pairs like EUR/USD, GBP/USD etc. Trends are common during these hours & also there are lots of chances to close positions profitably in short blogger.comted Reading Time: 6 mins
The Best Time to Trade Forex in Nigeria - Tigerwit Africa
Forex market is open 24 hours a day and for 5 days in a week. In a way, when is the best time to trade forex in nigeria, 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 when is the best time to trade forex in nigeria 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 strategywhen is the best time to trade forex in nigeria, and 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 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. 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 when is the best time to trade forex in nigeria Forex Trading? How to Trade Forex Best Time to Trade Forex What is Leverage?
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, time: 10:25Best time to Trade Forex in Nigeria (plus Market hours) - blogger.com
5/25/ · The three hours overlap ( pm to pm Nigerian time) between the London and New York markets is not only the busiest time of forex trading but also represents a large portion of the volume traded daily. It is therefore the best time to trade forex in Nigeria given that the possibility for profit is at the highest, especially if you are trading with currency pairs that include the euro, the British 10/1/ · Many traders I have interacted with said that the London Session is the best time to trade forex in Nigeria. And their reason is that that is when the market moves greatly. In other words, there is usually more volume of currency in the market during the London blogger.coms: 4 5/21/ · The three hours overlap ( pm to pm Nigerian time) between the London and New York markets is not only the busiest time of forex trading but also represents a large portion of the volume traded daily. It is therefore the best time to trade forex in Nigeria given that the possibility for profit is at the highest, especially if you are trading with currency pairs that include the euro, the
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