What are the advantages of trading digital currencies during the New York session time?

1 answers

• Dec 16, 2021 · 3 years ago
  Trading digital currencies during the New York session time can be advantageous for several reasons. Firstly, the New York session is known for its high trading volume, which means that there is ample liquidity and tight spreads. This allows traders to execute trades at competitive prices and reduces the risk of slippage. Secondly, the New York session overlaps with other major financial markets, such as London and Tokyo, which increases trading activity and volatility. This can result in larger price movements, providing traders with more opportunities to profit. Lastly, the New York session often coincides with important economic events and news releases, such as GDP reports or interest rate decisions. These events can significantly impact the price of digital currencies, creating potential trading opportunities for traders who are able to react quickly and effectively.
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