Best time to trade in Kenya

The greatest financial market in the world is the Forex market. Many inexperienced traders seldom think about the influence that operating practically constantly in multiple time zones can have on their investments.

Foreign exchange operates during the regular business hours of four separate time zones, making it a volatile, around-the-clock market in contrast to stock markets that are well connected and adhere to a uniform time.

Making trade strategies is therefore just as vital as comprehending time differences, when various forex markets overlap, and high/low trading periods.

Understanding the numerous risks and the timing differences will put you in the greatest position to profit from market upswings and downturns. It will also establish which forex broker in Kenya is the best to use when trading.

In Kenya, between 11:00 and 17:00 East Africa Time is the ideal time to trade forex. Because of the market's high level of liquidity and the volume of economic news being read during this time, you can profit from volatility following a news release. To properly prepare for the day, it would be beneficial if you arrived at the charts as early as 08:00.

Let's begin by discussing how the currency market operates in various time zones.

Kenyan Forex Trading Sessions

Four major forex trading sessions consists, namely Sydney, Tokyo, London and New York. Three trading sessions among them are important: Tokyo (Asian), London (European), and New York (North American).

Expert traders frequently concentrate on one of these sessions rather than trading during all sessions. The "forex 3-trading system" refers to these three trading periods, which are the busiest on the forex market.

In addition to these, active traders also take account of the four other Minor trading sessions, namely Singapore, Hong Kong, Wellington and Frankfurt.

These trading sessions operate in a domino-like fashion, with one closing and another opening. However, certain currency markets operate concurrently or in close proximity to one another. For instance, although being in the same time zone, Frankfurt and London only have a one-hour time difference between their opening and closing hours.

Grouping several currency markets by continent would make things much simpler. Although theoretically Australia is regarded as being a part of the Oceania continent, this is not the case in the forex market. The trading session in Asia includes both the Sydney and Wellington sessions.

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When is the Best Time to Trade Forex in the Kenyan time zone?

Kenya is located in East Africa and observes Eastern African Times. It fits into the global forex trading times as follows:

The optimum trading hours for Kenyan traders according to the table above would be from 11:00 to 17:00, when both the London and New York sessions are active and overlap each other. During these trading hours, volatility will be at its peak.

Even if it is feasible to trade during any session, the bulk of traders may not be able to stay up through the night. If you look at the table that's been provided, you'll notice that, with the exception of Tokyo, the other three sessions have been thoughtfully dispersed across the day. Therefore, it is possible that it will be profitable to trade during such overlapping sessions.

If you are able to get up during the times when the trading sessions in Tokyo and London or London and New York overlap, you will be able to take advantage of the sessions that are the most liquid and turbulent.

In addition to determine what is the best time to trade it is also a good idea to trade with a broker that offers a forex no deposit bonus which is a free, first deposit that you’re given by your forex broker, allowing you to start trading without risking your own capital.

Also Read: How Safe Is Forex Trading In Kenya?