21/05/ · 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 pound and the US dollars. Start Practicing with a Demo Account Thus, the best hours for Nigeria may be selected accordingly: Asian session starts at midnight and lasts till 9 a. m. according to Nigerian time. London opens at 8 o'clock in the morning and closes at 5 p. m. NY trading starts at lunchtime (2 p. m.) and finishes at 11 p.m Best Forex Trading Time in Nigeria. The best time to trade forex in Nigeria is between pm and pm, according to Nigeria local time. At this time, the London and the New York trading sessions start to overlap, bringing with it lots of market activities and opportunities
Best time to Trade Forex in Nigeria (plus Market hours) - blogger.com
If so, you are in the right place. In this article, we will talk about one of the important things you need to master trading forex, which is an understanding of how forex market hours work. This will help you come up with a strategy that puts you in the best position to make a profit from your forex trading by trading at the best possible time.
The best time to trade forex in nigeria market stays open for 24 hours of the day except on weekends. This is because the forex market cuts across the different time zones in the globe. What this means is that for five days of the week you can make profitable trades at any time of the day because there is always a forex market open at any given time somewhere in the world.
In Nigeria for example, forex trading for the week opens at pm on Sunday and closes at pm on Friday. Now, you have to know that there are three major trading sessions driving the forex market. Here they are with the times they open and close in Nigerian time:. The forex market is most active when any of the three major markets Tokyo, London and New York are trading as there are more traders placing orders to buy or sell. This leads to more obvious movement of price which in turn leads to better opportunities for profit.
So when is the Best Time to Trade Forex in Nigeria? You will notice that there are points in the day where the major markets overlap. When this happens, there is even more opportunity for profit because there are even more traders and a greater volume of best time to trade forex in nigeria. For example, there is a one-hour overlap between the Tokyo and London markets that is, from am to am Nigerian time where one is opening and the other is closing.
More so, there is a whole three hours overlap between the London and New York markets. It gets even more exciting when you add the fact that the London and New York markets are the two largest forex markets in the world.
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 pound and the US dollars.
There is more to learn as a beginner towards getting a better grasp of the rewards and risks of forex trading. It is always a great idea to begin with a demo account to master trading strategies and timing. Sign up for a demo account here. Save my name, email, and website in this browser for the next time I comment. Notify me of follow-up comments by email, best time to trade forex in nigeria.
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HOW I STARTED FOREX TRADE IN NIGERIA- FOREX TRADE EXPERT GIVES ADVICE ON INVESTING IN FOREX
, time: 9:45The Best Time to Trade Forex in Nigeria? – Todaymusik
21/05/ · 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 pound and the US dollars. Start Practicing with a Demo Account 19/05/ · What this means is that for five days of the week you can make profitable trades at any time of the day because there is always a forex market open at any given time somewhere in the world. In Nigeria for example, forex trading for the week opens at 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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