What is the best time to trade forex in nigeria
There are three main sessions of Forex currency trading around the world of trading currency. As you can see, everything about Forex trading in these countries are obvious, the foreign currency market is active throughout the day in Nigeria. The central idea is to get involved in the trade at the time the Forex markets are extremely busy.
Best Forex Trading Sessions in Nigeria Time
Remember, all of the currencies react in different ways during every session. Keep this Forex technical analysis in mind when trading with the big guys out there or the Forex trading companies.
The best time is always to trade in the first 3 to 5 hours of all the mentioned sessions, particularly if your fundamental analysis points on the new economic calendar are released. The reason is that the New York and London market overlap during these hours, which creates lots of trading opportunities that, are boosted with regular price movements.
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When you have an effective trading plan set up with a money management system, it is not difficult to make millions of Naira and maybe thousands of dollars in a foreign currency in just a few minutes. The three hours in between 8 AM and 11 AM are particularly profitable as many economic releases are produced together, which can help you in making substantial profits. Holidays should be avoided too. It is worth noting that trading the above pairs do not necessarily offer the best profits but the list is only intended to highlight the most popular ones.
While just about anyone can start trading in the retail foreign exchange market due to its accessibility, it might not be advisable for just about anyone. I cannot highlight the risk of losing all your invested funds enough.
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Training If you have read this far, you are probably a beginner looking to make money. To start, you would need to go through intensive training and tutorials. Where possible, go with an offline face-to-face training with a reputable forex brokerage company who already have a verifiable result.
There are some individuals whose main method of making money from forex is to offer training and tutorials for money. Practising on a demo account After training, it is still a very good idea to practice your skills and build a trading experience.
Forex Market Hours - Forex Market Time Converter
Do so by opening a demo account with the forex broker you intended to trade through. All the best trading platforms would offer a demo account to beginners. You can tune your skills further here and practice what you have learned. You should only move to the live trading platform when you are very sure of your skills and have gained sufficient confidence.
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Trading in the real market Once you feel ready, you can fund your forex trading account and start trading in the real world based on the currency pairs you feel would offer the best returns on investment at that particular point in time. Be aware of forex fraud and avoid it by all means. Good luck!
Sounds interesting but i need a broker to undergo training with so i could start trading on my own.
How much can it cost a beginner to Lear Forex trading in Nigeria. From Callistus Nwanyanwu. Your email address will not be published. Notify me of follow-up comments by email.
Notify me of new posts by email. This site uses Akismet to reduce spam. Learn how your comment data is processed. Sounds interesting but i need a broker to undergo training with so i could start trading on my own Thanks. Good, but where can i get good broker for training in lagos?