News & Blog
When To Trade Forex: NY Session
- July 30, 2021
- Posted by: Admin
- Category: Blog
It’s good to know about the specific times to trade during the days the forex market is active, but it is even better to be aware of the times to trade within one of the busiest sessions of all- the New York session! Learning forex trading skills such as this are important in becoming a professional trader down the road. Did you know that approximately 17% of all forex transactions happen in New York? That’s a pretty significant percentage, so we here at Smart Prime Academy want to go into exactly when you should be trading during this optimal time of day.
Some Useful Tips
- Liquidity is high in the morning. Since this session overlaps with the European session, there are a lot of active traders during this time.
- Most reports are released near the beginning of the NY session.
- Once European markets close, liquidity goes down. This period in US time is usually around the afternoon.
- Friday afternoon is when liquidity is often at its lowest. This is because during this time, people overseas in Europe and Tokyo are spending their Friday nights out with friends or at a bar, or in most cases, both!
Which Pairs Should I Trade?
This is a commonly asked question, but rightfully so because it’s important to know about. It is important to be aware of the fact that most liquidity comes from both the US and European markets, seeing as they are open at the same time. This gives you the freedom to trade pretty much any pair within this timeframe, but it is recommended that you stick to trading the major & minor ones, avoiding any of the outliers that aren’t as commonly traded.
How We Can Help
We hope that the information we provided you is thorough, and explains some of the questions you may have had about the New York session and its intricacies. If this knowledge is not enough and you would like more, however, you are in luck!
We here at Smart Prime Academy offer high quality foreign exchange market courses in Toronto! When you apply for our online courses, you are getting experience & skills from some of the best forex traders in the area! To find out more about how we can help you become a successful trader, be sure to call us at 1-877-870-0092 today. We look forward to hearing from you!