Forex trading is open 24/7 for its traders, right? Yes, but the timing of different regions is different, affecting the trading environment and trends and shifts. However, every day around 5 pm New York time, there is a rollover, and you cannot place a trade for a few minutes.
The duration of the rollover time depends on the broker. It is usually around a few minutes. Around this time, the spreads are a lot wider than usual, and it is risky to close a trade at that time.
This article will emphasize Forex trading times, specifically on New York session time in South Africa.
New York session time in South Africa – Trading hours
To understand the New York session time in South Africa, we should look over the forex trading hours. There are four main Forex sessions.
- Sydney session
- New York session
- Tokyo session
- London session
Importance of New York session
The New York session is the most popular one. It opens and closes at 17:00 in New York all around the year. It is the most widely used session in Forex Trading. The New York time is standard and more popular than the other sessions.
South African Time
In winters, when the New York session closes at 17:00 EST, it is midnight 00:00 in South Africa. This is a time with a lot of activity in Forex trading in South Africa because most people who work somewhere get free around this time to trade before their day is finished.
When the New York session closes at 17:00 EDT, it is 23:00 in South Africa in the summers. It is again a perfect time for traders. These after-work hours favor people in South Africa.
So, the South African Forex market closes around midnight throughout the year.
In the USA, New York, the transition from EST (winter) to EDT (summer) happens at 02:00 on the second Sunday in March, and the transition from EDT (summer) to EST (winter) happens at 02:00 on the first Sunday in November. This is a debatable time change. However, it is done to get better working hours for people in winters.
New York Trading session (New York Open)
Following are some time conversions to popular time zones;
- GMT 12h00 to 20h00
- EST 08h00 to 16h00
- BST 13h00 to 21h00
- SAST 14h00 to 22h00 (South African standard time)
Almost every fifth transaction in Forex trading is done in the New York open. The Asian session is just closed when the New York session starts. Additionally, the European session is mid-way completed when the New York session opens.
People in South Africa can trade all of the G10 currency pairs in the New York session. The trading volumes are highest when New York and London markets overlap each other. Even if you are trading in Sydney or the Asian session, you should watch the New York session. USD is the base currency for a lot of trades, and it affects the market a lot.
Following are some tips for traders about New York session time in South Africa;
- Liquidity is highest in the morning
- Volatility is highest in the morning
- Liquidity decreases in the afternoon
- Friday is the quietest day