There are many traders trading in the forex trading market from the South African zone; as a result, a lot of new traders are engaging in forex trading. However, new traders are often making mistakes in trading for the best timing; they are failing or getting fewer profits from their trades by trading at the wrong times. Here, we will cover the best timing for earning the best profits in forex trading from the South African zone.
Overview of Forex Trading Times
You must know that the forex trading market is opened from Monday to Friday each week, and there is no official open or closing time available for separate countries or zone. This is because the forex trading market is maintaining the EST schedule. Thus, the forex market is closed each Friday at 17:00 EST and opens on Monday at 22:00 EST.
Best Time for Trading in South Africa
A different schedule is available in South Africa called SAST (South Africa Standard Time); investor analysis experts said that the best time for South African countries is 10:00 to 17:00 SAST. 10:00 SAST is the opening time of the London session, and 17:00 is two hours into the United States of America's session. This is the most valuable time for forex trading because the most popular media and newspapers publish 80% of economic news in this session. As a result, this is creating big impacts in forex trading or other financial markets. Big economic news influences the market like magics. If a trader can cache the situation than, they can earn the best profits from their trading.
Money Center Activity Time
If I ask you which session is the most important in forex trading or the most transactions time in forex trading? If you know that you are already one step away from others, you will be surprised to know that 43% of forex transactions are traded in European trading time.
This trading time is for day traders or scalping if you are a long-time trader then, it's will not be a big factor for you. However, for swing or position trading, where you want to setups daily 4H for daily charts, you have to be considerably more concerned about basics, positioning, and sentiment, as opposed to trading at precise hours.
Normally, the more extended your trading time period, the maximum time forex fundamental should get the best priority in your trading plan.