Before determining which time is the best for Trading in Senegal, it is important to note that trading across a large selection of financial markets is indeed legal in Senegal and the country has millions of potential traders interested in a wide range of investment opportunities. The economy of Senegal is mainly driven by a selection of sectors, including mining, construction, tourism, fishing, and agriculture. Furthermore, the aforementioned economic sectors are the main sources of employment in rural areas. When it comes to trading in Forex, International Trade, Binary Options, Crypto Currency, and Commodities, finding the best time to trade will result in the most optimal investment opportunities. Furthermore, while forex traders may operate in a variety of currency pairs, traders from Senegal might be interested in trading the USD/XOF.
The Best time to trade Forex in Senegal.
There is no one time noted as the Best Time for Forex Trading in Senegal but the global optimal trading time is said to be in the timeslot when the U.S./London markets overlap at 8 a.m. to noon EST. This timeslot is said to have the heaviest volume of trading and offers investors in Senegal the best investment opportunities. Furthermore, the Sydney/Tokyo markets also overlap at 2 a.m. to 4 a.m. but this timeslot is not known to be as volatile as the U.S./London overlap, but this timeslot does still offer notable investment opportunities to investors in Senegal.
The forex market is open for business 24 hours a day in different parts of the world, from 5 p.m. EST on Sunday until 4 p.m. EST on Friday.
The Best time to trade on the Local stock Market in Senegal.
The BRVM serves the countries of Benin, Burkina Faso, Guinea Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.
The Best Time for International Trade in Senegal.
The term International Trade refers to the process of exchanging goods and services between countries. This includes:
Indices are a measurement of the price performance of a group of shares from an exchange. According to seasoned traders in Senegal there are certain time periods throughout the trading week where market volumes and prices tend to spike and the interval between 9:30 to 10:30a.m. ET is one of the best hours of the day to invest in Indices as it offers the most notable moves in the shortest amount of time. Traders in Senegal should also keep in mind and consider that different indices are traded at different times, and this will be depended on the individual exchange. Novice investors in Senegal may want to avoid trading during these hours of high volatility.
Shares / Stocks
Stock is all of the shares into which ownership of a corporation is divided. According to seasoned traders in Senegal the whole 9:30 a.m. to 10:30 a.m. ET time period is often one of the best time slots in the day for day trading stocks/ shares as it offers investors the biggest moves in the shortest amount of time.
Volatility 75 index
The Volatility 75 Index, which is better known as VIX refers to an index which measures the volatility of the S&P500 stock index. The Volatility Index opens at 8:30 a.m. to 3:15 p.m. Central time (Chicago time).
Nasdaq is a global electronic marketplace for buying and trading securities. 9:30 – 10:30 am ET is often seen as the best hour for Stock trading with 3 – 4 pm ET offering similar opportunities.
The term S&P 500 refers to the Standard and Poor’s 500 which is a stock market index which tracks the performance of 500 large companies listed on stock exchanges in the United States. As S&P 500 companies trade on the NASDAQ and New York Stock Exchange, seasoned traders will choose to trade the S&P 500 index during main market hours which falls between the hours of 09:30 and 16:30 EST. Trading during these hours will often offer investors in Senegal greater liquidity and tighter spreads.
Best time for trading Binary Options in Senegal.
A “binary option” refers to a financial exotic option in which the payoff will either be some fixed monetary amount or nothing at all. There are three preferable time slots for investors in Senegal to trade according to seasoned global traders, falling between the hours of 5 am – 12 pm, 12 pm – 7 pm and 7 pm – 5 am.
Best Time to trade Cryptocurrency in Senegal.
The term Cryptocurrency refers to digital currency where transactions are verified and records maintained by a decentralized system using cryptography. This includes Bitcoin, Ethereum and Binance. A market’s peak trading hours will typically fall between the hours of 8 a.m. to 4 p.m. local time and these are the trading hours which will typically drive the highest trade volume in each region.
Best Time to Trade Commodities in Senegal.
In economics, a commodity refers to an economic good, usually a resource, that has full or substantial fungibility. Commodities include oil, gold, platinum and silver – to name but a few. The two most common and popular times for investors to move to trade commodities are during times when commodities become cheaper, and commodities are considered a value play. The second time is when commodities are hitting multi-year highs.
It is very important for investors in Senegal to take advantage of market overlaps all whilst keeping a close eye on new news releases when setting up their individual trading schedule. For Traders who are looking to enhance their profits should also aim to trade during more volatile time periods while monitoring the release of new economic data.
What are the four major Forex Exchanges in the world?
The four major Forex Exchanges in the world are London, New York, Sydney and Tokyo.
What are the Worldwide Forex Market Hours?
The Four major Forex Exchanges in the world have the following trading hours:
- London: 3am – 12pm
- New York: 8 am – 5pm
- Sydney: 5pm – 12 am (midnight)
- Tokyo: 7pm – 4am
Which time slot offer the best trading opportunities to investors in Senegal and other countries across the globe?
The U.S./London markets overlaps and has the heaviest volume of trading which in turn offers the best trading opportunities to investors.
Do other markets overlap similar to the U.S./London Markets?
Yes. Other overlapping time slots include Sydney/Tokyo (2am – 4am) and London/Tokyo (3am – 4am)
What are the worst times to trade in Senegal and other countries across the globe?
According to professional traders there are 5 key times to avoiding trading overall. These include:
- Late Sunday/Early Monday
- National Holidays
- During Major News Releases
- During times of strange price actions
- Asian sessions when liquidity is lower, particularly near end-of-day crossover time
What are the most popular Forex Currency Pairs to trade?
The most popular currency pairs regularly traded amongst global forex traders include:
- EUR / USD Euro/United States Dollar
- USD / JPY United States Dollar/ Japanese Yen
- GBP / USD United States Dollar/Pound Sterling
- USD / AUD United States Dollar/Australian Dollar
- USD / NZD United States Dollar/New Zealand Dollar
- USD / CAD United States Dollar/Canadian Dollar
What does the term “Forex Sessions” refer to?
Most traders choose to focus on one of three trading periods instead of attempting a 24-hour trading marathon. This method is known as the “forex 3-session system“. These sessions consist of the Asian, European, and North American sessions, which are also called Tokyo, London, and New York sessions.