If you focus on long-term trading, then the session time does not matter. Because at this period the market prices change the most, which means that you have the best chance of making good money. If you are an intraday Forex trader (trades within 1 hour), the best time will be London session. The choice of time depends on a trader's strategy. New York City - 8 pm to 5 am in summer, 9 pm to 6 am in winter. London - from 3 pm to midnight in summer, from 4 pm to 1 am in winter. Tokyo - from 7 am to 4 pm in summer and winter. Forex trading Singapore operates in 4 sessions with varying opening and closing times:Īustralian session - from 6 am to 3 pm in summer, from 5 am to 2 pm in winter. However, the market behaves slightly differently at various hours. You have the option to open and close positions at any time of the day except weekends. When to trade on the Forex market?įorex market is open 24 hours 5 days a week. Some brokers allow starting trading with only 1 dollar on balance.Īt Forex, you rarely see gaps - breaks between prices, which are dangerous with the risk of more significant losses than previously predicted. Slippage means the difference between the price set in order and the actual cost of the currency.īoth large and individual small traders can quickly enter the market. This amassed liquidity implies that orders are executed quickly and with minimal price slippage. Daily trading turnover is over 5-7 trillion dollars. Trading Forex is a great way to get to know the world's largest market. The trader selects on what currency difference he will earn more money. The main ones are dollar to euro, British pound to euro, dollar to yen and the like. A trader sells or buys Singaporean currency in ringgits.Īt Forex, you find various options for trading pairs, which are divided into basic, minor and exotic ones.
For example, the SGD/MYR pair stands for Singapore dollar to Malaysian ringgit. Forex trading allows you to earn on fluctuations and differences in currency rates.
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