When does forex market close in nigeria

When does forex market close in nigeria

Jan 06,  · 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 Oct 01,  · 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 blogger.coms: 4 Sep 13,  · The forex market closes for the week at pm Nigerian Time every Friday. This time corresponds with pm during the months from November to March and PM during the other months. Since New York is the last session open before the weekend, the closing time of the New York session marks the closure of the forex market for the week

When Does The Forex Market Open? - Forex Education

Time is everything in life. In fact, time is life. Therefore to know the best time to trade forex in Nigeria means talking of when to position and make money from the forex market. 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, when does forex market close in nigeria, 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 when does forex market close in nigeria 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, when does forex market close in nigeria.

There are other Sessions in between, but these three are the major ones you need to know. 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. 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.

The Asian or Tokyo Session opens by AM and closes by AM, Nigerian Time. 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 when does forex market close in nigeria 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 when does forex market close in nigeria 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 when does forex market close in nigeria 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, when does forex market close 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 Session. The major players in this market are London and Germany. This Session starts from 8 AM to 5 PM Nigerian time. Major trade breakout occurs in this Session, therefore it is the best time to watch out for a good entry price. 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, when does forex market close in nigeria, which marks the end of the day trading and the beginning of a new trading day. Since Americans and Canadians are the major players in the New York session, the volatility of the USD pairs is high. 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. 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, when does forex market close in nigeria. 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. Also, Read [ How to Start Forex Trading in Nigeria ].

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.

I would like to have the contact of this writer. My WhatsApp contact is Hello Miracle, I am happy you love the article. You can reach me through the contact form on this website or call me on This site uses Akismet to reduce spam. Learn how your comment data is processed. Skip to content. Post author: Israel Chima Post published: Post category: Currency Trading Post comments: 4 Comments Time is everything in life. Share this: Click to share on Twitter Opens in new window Click to share on Facebook Opens in new window.

Betafx and When does forex market close in nigeria. org Nigeria Review — A very Big Scam Forex Trading Training in Nigeria- All You Need Know What is Forex Trading And How Does it Work in Nigeria. Uche Amadi 24 Jan Reply. Kind regardds, Uche Amadi Loading Israel Chima 7 Mar Reply. Hello Miracle, I am ready to help you out once you are ready to pay the price. Miracle Ekene 25 May Reply. Thanks Loading Israel Chima 25 May Reply.

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Instaforex Nigeria | FOREX MARKET OPEN & CLOSE TIMES ( WHY IT MATTERS )

Mar 06,  · Forex market opens at 23 NGT on Sunday in Nigeria. The time difference between Nigeria and the United Kingdom is 1 hour (s). While in Nigeria, the actual local time is NGT, the time is GMT in the United Kingdom. Forex market opening hours in Singapore is 6 AM SGT (Singapore time is GMT+8). Their GMT opening and closing times can Estimated Reading Time: 3 mins Jan 06,  · 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 Forex market hours. The foreign exchange market is open hours a day, with the exception of weekends. As one financial centre closes, another one opens. Access the deepest pockets of liquidity when sessions overlap. Get a free 1-on-1 training session with a dedicated account manager when you deposit 1, or more