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How To Instantly Improve Your Profit During The New York Session
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How To Instantly Improve Your Profit During The New York Session
Living in Southeast Asia and have a day job？ This trading session is for you! While you have settled down at home, traders in USA are only starting their day.To get more news about WikiFX, you can visit wikifx official website.
When the traders in Europe return from their lunch, the traders in America (mainly in New York) start their trading day. This is at 12pm GMT (8pm SG time).
This overlap in market activity contributes to higher volatility and presents opportunities to make money.
Due to its leadership in world trade & global economic policies, the US session is one major financial centre that markets pay keen attention to.
Reason 1: Extremely high liquidity given that the European session is the most active Forex market in the world.
Reason 2: Around 85%of all Forex transactions involve the USD.
Reason 3: Most economic reports are announced near the start of the US session at about 12pm GMT (8pm SG time). As the US has a large influence on the world, volatility will be high at the start, providing traders with opportunities to make a quick profit.
#3 Characteristics
Past 3pm GMT (11pm SG time, once the European session ends), the Forex market goes to sleep. Liquidity and volatility tend to drop, resulting in slow price movement and the possibility of prices being range bound.
This phenomenon is particularly felt on Fridays afternoon sessions where traders across the globe shift their focus to non-trading related activities.
So, go out with your friends or spend time on your hobbies on Fridays, the eve of major public holidays (in Europe and the US), and on the holidays! Please note that this table is not all-inclusive and the range may differ from time to time depending on various conditions such as news and specific economic trading activity.
You have learnt that there are opportune moments to trade Forex. You know when to trade and what to expect, saving you from potential heartaches and frustrations.
You also know which days to stay away from trading; to go out and have some fun instead. After all, life is meant to be enjoyed too.