This is because high volatility pairings have a high risk of losing money rapidly due to the sheer nature of these assets. Obviously it’s smart to do your own investment research and to incorporate a decent risk management strategy when trading the most volatile currency pairs. This can be determined by pre-existing patterns, such as trade volumes being higher when more than one major global Forex market is open, or based on external factors such as the release of government reports or a dip in the economy.
This can either be decided on the basis of which of the manageable trading periods is most convenient to fit around your lifestyle, or according to when you think the market is likely to be more active.
Therefore, it’s important to choose which Forex trading hours from the three manageable trading periods you would like to focus on, especially when trading CFDs. nextmarket traders can check their trades 24/7, however, may have to wait for the exchange to open one of its major trading sessions for updates.Īs a novice trader on nextmarkets, it’s unlikely that you’ll be able to watch your Forex trades 24 hours a day, 5 days a week. However, all of the UK-based brokers will close as the London trading session closes, so you may have to open trades with a different broker in a different market such as in a European session if you wish to trade outside of the London Forex market hours. Of course, the London Forex market is not the only place with major trading sessions that you can trade foreign currencies and many traders will trade on a European session, an Asian session or even a Sydney trading session.īefore the stock market has closed in the London session, it has opened in a New York session, so you can carry on trading with the forex market open beyond 4 pm during normal business hours, or even wait until a Sydney session opens up. The early start of the London session means that they also have an early finish, closing the market on currency pairs at 5 pm.
The London Forex exchange is open slightly earlier than general business hours, opening at 8 am.
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