What Time Does The Forex Market Open on Sunday in Nigeria?
On Sundays, the forex market opens around 11 PM Nigerian time and closes on Friday 11 PM Nigerian time.
The start of the London session around 8 AM Nigerian time, is one of the best times to trade forex because London Hedge Funds & Mega Banks are also trading at that time hence you will see better price movement & candle stick formation.
On Sundays, the forex market opens around 11 PM Nigerian time and closes on Friday 11 PM Nigerian time.
The start of the London session around 8 AM Nigerian time, is one of the best times to trade forex because London Hedge Funds & Mega Banks are also trading at that time hence you will see better price movement & candle stick formation.
The Frankfurt (Germany) trading session also starts around 8 to 9 AM in the morning so its a good time to trade forex.
The Frankfurt (Germany) trading session also starts around 8 to 9 AM in the morning so its a good time to trade forex.
I agree @yokoyi.
The best time to trade for Nigerian forex traders is the opening hours of the London session, from the start of Frankfurt open at 8AM Nigeria time (which is 7AM UK time).
From 8AM-11AM is the best time based on what I trade, but it also depends on your system, and the instrument.
For trading EUR & GBP currency pairs, this time is the most active when you can catch some momentum.
The Frankfurt & London, these 2 hours will have some directional movement, on most days. Both could be opposite as well, it happens around half the days. It is possible to build a system with edge around trading during these 2-3 hours only.
If you are wrong, then you just accept your lose & move on to the next day.
In general, I want to add that avoid being infront of the screen for too long, it mostly leads to bad outcomes & lower overall monthly P&L.
Why am I saying the above?
To the original question, It is okay to know what time does Sunday open, but I don't think it really helps you, not if you have a system or trading setup built around trading the Sunday open.
So, if you are sitting during the Sunday open, watching the charts, tracking the opening, then I don't think you can really do well in the long term. I'll add, unless, you actually have a system around it, and have a reason to.
I agree @yokoyi.
The best time to trade for Nigerian forex traders is the opening hours of the London session, from the start of Frankfurt open at 8AM Nigeria time (which is 7AM UK time).
From 8AM-11AM is the best time based on what I trade, but it also depends on your system, and the instrument.
For trading EUR & GBP currency pairs, this time is the most active when you can catch some momentum.
The Frankfurt & London, these 2 hours will have some directional movement, on most days. Both could be opposite as well, it happens around half the days. It is possible to build a system with edge around trading during these 2-3 hours only.
If you are wrong, then you just accept your lose & move on to the next day.
In general, I want to add that avoid being infront of the screen for too long, it mostly leads to bad outcomes & lower overall monthly P&L.
Why am I saying the above?
To the original question, It is okay to know what time does Sunday open, but I don't think it really helps you, not if you have a system or trading setup built around trading the Sunday open.
So, if you are sitting during the Sunday open, watching the charts, tracking the opening, then I don't think you can really do well in the long term. I'll add, unless, you actually have a system around it, and have a reason to.
Yes I agree sitting in front of the screen for too long will only make you lose any little profit you may have made. Fatigue will set in and your judgement will be clouded.
Yes I agree sitting in front of the screen for too long will only make you lose any little profit you may have made. Fatigue will set in and your judgement will be clouded.
The forex market opens in Nigeria at exactly 10:00 PM