This article will explore top forex spread trading techniques and key tips traders should follow to protect themselves against a widening spread.
3) Time of day trading
The time of day influences forex spreads, so it can be useful factoring this in to your strategy. During your major- London, New York, Sydney and Tokyo - forex spreads are normally at their lowest due to the high volume being traded. Forex traders could trade during these times to take advantage of narrower spreads. When the London and New York sessions overlap, spreads can become even narrower.
The hours shown below are Eastern Time. Between 8am and 11pm Eastern time the London and New York session overlap.Forex spread trading example using USD/JPY If you combine all the above spread trading techniques, you can reduce the risk of trading at a high spread. It is important to remember these steps when executing a trade and when closing a trade because the spread may change from when you open the position to when you want to close it., which is among the major currency pairs – meaning it has high liquidity and therefore very low spreads compared to other forex pairs.
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