The regular investor can now trade the stock market 24 hours a day with TD Ameritrade. Traders on the TD Ameritrade platform are now able to buy and sell shares of ETFs like the SPDR S&P 500 (SPY) at any time of day.
Believe it or not, the Forex (currency) market never closes. It's a 24-hour market that's open 7 days a week. However, retail traders like you and I can only trade the hours between Sunday at 5 pm EST and Friday at 5 pm EST.
Regular market hours of the stock market are from 9:30 a.m. to 4 p.m. EST on weekdays, with after-market hours from 4 p.m. to 8 p.m. The Forex market is open around the clock Monday through Friday, and Europe and US-based traders can even start trading on Sunday with the opening of the Sydney session.
European Forex Session (London)
| Session | Major Market | Hours (GMT) |
|---|
| Asian Session | Tokyo | 11 p.m. to 8 a.m. |
| European Session | London | 7 a.m. to 4 p.m. |
| North American Session | New York | noon to 8 p.m. |
Your brokerage may allow you to buy stocks after the stock market closes, but it's important to know the rules. However, depending on your brokerage, you may still be able to buy and sell stocks after the market closes, in a process known as after-hours trading.
The New York Stock Exchange and Nasdaq, the nation's largest stock markets, maintain hours of trading that are similar to those of banks' hours. Because of this, the stock market is closed on weekends.
Forex trading won't shut down, unless of course there is a fiat currency collapse, which could happen if global economies collapse. Forex trading on the other hand, will certainly slow down, especially for retail traders. The reason is that quant trading, that is, algorithmic trading is taking hold.
With statistics showing that the market is more profitable than stock trading, and trades at around $5 trillion dollars per day, there is enough evidence to show that there are successful forex traders out there. Forex trading is profitable.
The U.S./London markets overlap (8 a.m. to noon EST) has the heaviest volume of trading and is best for trading opportunities. The Sydney/Tokyo markets overlap (2 a.m. to 4 a.m.) is not as volatile as the U.S./London overlap, but it still offers opportunities.
The best forex trading time in Kenya is between 1600 and 2000 hours (4:00 PM and 8:00 PM local time). At 1600 hours, the London and New York trade sessions start to overlap. The overlap continues up until 2000 hours. The market is most liquid at this time.
Best Forex Brokers Kenya
- IG - Best overall broker 2021, most trusted.
- Saxo Bank - Best for research, trusted global brand.
- Interactive Brokers - Great for professionals and institutions.
- City Index - Excellent all-round offering.
- XTB - Best customer service, great trading platform.
- FOREX.com - Great all-round offering.
The best forex pairs to trade during the New York session would be your majors, like EUR/USD, USD/JPY, GBP/USD, EUR/JPY, GBP/JPY, and USD/CHF. These pairs will be the most liquid during the US session, especially the EUR/USD during the overlap.
“Online Forex trading in Kenya is regulated by the CMA or the Capital Markets Authority since 2018. As a Kenyan FX trader, you should only trade through forex brokers that are licensed by the CMA to operate in Kenya.
Spot gold and silver trading is available 23 hours a day from 6pm ET Sunday through 5pm ET Friday. Trading is closed from 5pm to 6pm ET daily.
Weekend trading is how you can access indices and cryptocurrency markets on a Saturday and Sunday. This means that any positions on cryptocurrencies will continue to move over the weekend, and your stops and limits can still be triggered.
Forex market starts to move a lot better than what you would have seen on Monday. This happens because traders have formed their opinions and are starting to take positions in the market.
Regular trading begins at 9:30 a.m. ET,1? so the hour ending at 10:30 a.m. ET is often the best trading time of the day. It offers the biggest moves in the shortest amount of time.
Best Day of the Week to Sell Stock - FridayIf Monday may be the best day of the week to buy stocks, Friday may be the best day to sell stock — before prices dip on Monday.
It is ultimately up to you, whether or not you decide to trade currencies on either or both of these days, but some people will recommend that you avoid currency trading on these days. This is because on Mondays, the market for currencies is essentially awaking from its time off over the weekend.
Forex investors trade the weekend gap by expecting Sunday's opening price to return to Friday's closing price.
- Go online to your Forex trading account or open an account if you do not have one.
- Pull up the closing price for 5 p.m. (EST) Friday for the currency pair you select.
Even so, with a decent win rate and risk/reward ratio, a dedicated forex day trader with a decent strategy can make between 5% and 15% a month thanks to leverage. Also remember, you don't need much capital to get started; $500 to $1,000 is usually enough.
Which Are the Best Currency Pairs to Trade?
- US Dollar (USD)
- Euro (EUR)
- Australian Dollar (AUD)
- Swiss Franc (CHF)
- Canadian Dollar (CAD)
- Japanese Yen (JPY)
- British Pound (GBP)
