This article looks at when you should be trading on the forex Singapore market.
There are certain times when you should be trading on the forex Singapore market. It is important that you know what these times are. To determine the best times for you to trade you will need to look at when you are able to trade. You should then consider the currency pair you are using and how this affects when you should be trading. You also need to look at the strategy that you have and when you should be trading with this strategy.
The Market Sessions of the Forex Singapore
The forex Singapore is made up of 4 different market sessions and this affects when you should be trading. The 4 market sessions will combine to form the 24 hours of the forex trading day. There are three overlaps that you need to know about. Some of the overlaps last longer than others and there are certain overlaps that are better to trade in.
When You Can Trade
The first point that you have to consider when you look at when you should be trading is the times when you can trade. The times that you have available to trade will impact when you should be trading. If you are trading full time and have all day to trade then you will not have a problem with the identification of when and what you should be trading.
However, if you are trading part-time then you could have a number of problems. You need to determine which market sessions you will be able to trade in because this affects what you trade. If you do not have a lot of time to trade then you should look at trading in the most liquid and volatile times.
The Currency Pairs You Use
The currency pairs that you use to trade with will impact when you should be trading. The currency pairs will trade best when they are used in their related market session. This means that the US dollar will do well in the New York market sessions while the Euro will do well in the London session. You have to find the market that the currency pair does the best in. This will be the market sessions where the highest number of trades using the currency pair is completed.
If you are able to trade during the overlap times then there are certain currency pairs that will do well. The best overlap to trade in will be the New York and London overlap. This overlap lasts 4 hours and the best currency pair to trade is the US dollar and British pound. During this time the US dollar and the Euro pair will also trade well.
The Strategy that You Use
The strategy that you are going to use will impact the trading that you are able to complete. There are certain times on the market where a range is more common than a trend. These are the best times for ranges traders to be on the market. If you are trading on the long-term then you should stay away from the market during the overlap times because they are too volatile to find a good entry price.