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Best Time to Trade Forex in Nigeria - Relaxed Mode
Thread starter Monoxide; Start date ; Monoxide Member. Transactions on the interbank market cause all the significant market movements. Note that we make every effort to verify the trading of our daily posts, we encourage our readers to also confirm before application. Forex trading is not a forum di trading forex in Nigeria get rich quick program and it is not for anyone that is desperately in need of cash for an urgent solution. Don't miss the opportunity to make money in the Forex market through News Trading.
Forex trading is one of the most lucrative businesses in Nigeria. Train yourself and success will come!
Ketentuan trading yang ditawarkan oleh InstaForex merupakan alat universal untuk manajemen uang di forum di trading forex in Nigeria Forex. This site uses cookies. 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.
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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.. All Rights Reserved, Best time to trade Forex in Nigeria.
What is the best time to trade forex in India?
Before I go into details of best time to trade forex in Nigeria, I will like to tell you that what matters most is your trading strategy, rules, and plans. If you get these right, you will make money at any given time trading forex. Click Here For a trading strategy that has worked for me over the years.
That the market is opened 24 hours daily does not mean it is active all through. Sometimes traders become skeptical about the market conditions as such pull away, watching how things unfold. In that case, the market will be dull or in a consolidation mode. To understand the best time to trade forex in Nigeria, you have to know the exact Sessions that made up the market period.
There are other Sessions in between, but these three are the major ones you need to know.
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- The Best Time to Trade Forex in Nigeria?
Understanding the timing and the volume of trade at this Session will really guide you on the right time to trade forex. I will like you to know that there are lots of opportunities at any given time in the forex market. Therefore, your success largely depends on how you understand the market.
Forex Trading Sessions
This session of the forex market is considered the beginning of the trading time. Most traders, more especially daily and price action traders take their trading decision at the beginning of this Session. It is referred to as the Asian Session because the major players or traders on the market at the Session are the Asian countries such as Australia, Hong Kong, Singapore, and Japan. In fact, Japan is the 3rd largest trading center in the world, which is why the Japanese Yen moves crazily in this Session.
All the Asian currency pairs are good pairs to trade at this time of the market. In this case, Australian and Japanese news move the market or usually cause a spike in the market. Looking at the time of this forex Session, it is obvious that as a Nigerian, It is the midnight or wee hours here. As such, it may not be the best time to trade forex in Nigeria because you may be carried away by sleep or you may not be mentally sound to take wise decisions. The tendency that the closing hours of this Session will experience a big move is high because the closing hours overlap with the London Session opening.
So, always be on alert towards the end of this Session if you are comfortable trading forex at this hour. 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.