Forex Trading Start Time

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Forex Trading Start Time

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Forex Market Hours Definition

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Best Times To Trade Forex Market

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One advantage of the forex market is that it is open 24 hours a day. This means that you can trade forex and generate income for your money at any time of the day.

However, despite this, there are times when it is better to trade with Forex or in other words, you can make more profit. Therefore, it is important to know when these times are so that you can improve your chances of success.

Best Time To Day Trade The Eur/usd Forex Pair

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Before looking at when are the best times to trade forex in South Africa, it is important to first understand when the global forex trading sessions are around the world. There are basically four major trading sessions around the world that account for more than 65% of global foreign exchange market volume and most of the global liquidity.

During these four sessions, there are many overlaps that increase volume and liquidity, as well as impact trading. The first is between 23:00 GMT (18:00 EST) and 7:00 GMT (1:00 EST), when there is an overlap between Sydney and Tokyo. During this overlap, maximum volume is exchanged with currency pairs in these regions.

There is another overlap between 8:00 GMT (3:00 EST) and 9:00 GMT (4:00 EST) when the Tokyo and London sessions overlap. During this overlap, the most actively traded currency pairs are the European and Japanese pairs.

How To Trade Pre Market, Post Market And Out Of Hours

Finally, there is an overlap between the London and New York sessions between 13:00 GMT (8:00 EST) and 5:00 pm GMT (12:00 EST), during which the most actively traded currency pairs are EUR / USD and GBP. / USD.

The first step in determining the best times to trade forex in South Africa is to determine the relevant time zones in the region. The entire country is in a single time zone that is 7 hours ahead of Eastern Standard Time and 2 hours ahead of Greenwich Mean Time (GMT).

Here, it is also important to note that South Africa does not use Daylight Saving Time. This means that during the summer months in South Africa, its time is 6 hours ahead of EST and 1 hour ahead of GMT.

Now that we have analyzed the key global currency sessions around the world and the relevant time zones in South Africa, it is time to consider when is the best time to trade South African currencies.

The Best Time To Trade Forex And Binary Options

The first step in determining the best time to trade forex in South Africa is to determine when is the best time to trade in general. Traders always believe that the best time to trade Forex is when there is more liquidity and volatility in the market. Generally, these times fall on Thursdays and Fridays, and as a result, many traders consider these days to be the best days to trade Forex.

However, at Traders Union, our experts have done research and can now debunk this myth. During this research, our experts interviewed 2,080 traders, 81% of whom were male and 19% female.

Among the group, 4% traders have been trading in foreign currencies for more than 10 years, 28% have been trading for more than 5 years, 38% have been trading for 3 to 5 years, and 21% have been trading for 1 to 1 years. 3 years. , and 9% have been trading for less than a year.

As for returns, 3% of the cohort showed an average monthly return of up to 15%, 17% showed a monthly return of up to 10%, 29% showed a monthly return of up to 5%, 32% showed a monthly return of 5% to 3%, and 19% 1 Showed monthly income up to %. To achieve these returns, 44% of traders used intraday strategies while 44% used long-term strategies.

Best Time To Trade Forex In South Africa

Now, based on previous research and trader feedback, what is the best time to trade Forex? Interestingly, the majority of traders claimed that Wednesday is the most profitable day of the week to trade Forex.

Regarding the best time to trade currencies, the majority of traders (38%) stated that the best time to trade is between 6:00 pm GMT (1:00 pm EST) and 12:00 pm GMT (7:00 pm EST). 31% of traders said the best time to trade is between 18:00 GMT (13:00 EST) and 12:00 GST (19:00 EST).

Now, combining the above results, Wednesdays seem to be the best day to trade between 6:00 GMT (1:00:00 EST) and 12:00 GMT (7:00:00 EST). Thursday seems to be the second best day to negotiate at the same times as mentioned.

Also, other research results show that for long-term strategies, Wednesday and Monday are the most successful days for trading. Also, for short-term strategies, Wednesday and Thursday are best.

Forex Market Hours

Now, based on the research results, we can establish what are the best times to trade forex in South Africa. Here, Wednesday and Thursday are the best time to trade forex. When it comes to specific moments, the better

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