Forex trading time is an important component of your trading strategy. Although the market is open twenty-four hours a day, five days a week, there are some key differences between the trading days and hours. Forex trading time is generally divided into several sessions, with some being more active than others. As a result, you should know when to trade and when to stay away.
The Forex market operates during three sessions, and each of these sessions has a different open and close time. These time frames overlap on certain days, so make sure you know when these sessions will overlap. The US and London sessions overlap by three hours, so it’s a good idea to plan your trades accordingly.
When you trade the forex market, the best time frame is the one that suits your trading style. Day trading uses a one-hour time frame, while swing trading and position trading use four-hour time frames. These time frames are different from each other, and this allows you to take advantage of those differences and find the best entry. When using these time frames, be sure to analyze the charts thoroughly and use sound risk management techniques on all of your trades.
The best forex trading time in Kenya is between two and eight PM. The New York session occurs from two PM in the United States. During these hours, the currency trading activity in Kenya is the largest in the world. This is because the USD is the most traded currency, and the New York Stock Exchange has a substantial impact on the USD. The London forex trading session, on the other hand, starts at five PM and runs until three AM in GMT time.