Comments Off February 22nd, 2010

Can You Seriously Trade Currency 24/7?

Forex trading begins in financial hub of Australia – Sydney on Monday morning through Friday afternoon in the US West Coast. All day and night some place or the other on the globe, forex is traded.

Still it is not a 24/7 market since it does stop during weekends. It’s more like 24/5.

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You will need to understand time zones though in order to determine exactly when the global markets will open and close. A plain technique to do this would be to use UTC units.

It was previously known as GMT which is Greenwich Mean Time and is presently UTC expanding to Universal Coordinated Time. It’s in actuality the standard time in London, Greenwich to be clear-cut which also happens to be explicitly zero longitude on the globe.

So, the common FX market hours are 22.00 Sunday UTC to 22.00 Friday UTC. This accords to10pm winter time in the UK.

New York is 5 hours behind the UK so the universal FX market commences and closes at 5 pm Sunday/Friday in New York, 2 pm on the US west coast, 11 pm in Germany, 8 am Monday/Saturday in Sydney.

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Expressly, here are the hours of substantial global markets:

Sydney: 10 pm to 7 am UTC Tokyo: 12 midnight to 9 am UTC London: 8 am to 5 pm UTC New York: 1 pm to 10 pm UTC

Instead we can depict that in EST (Eastern US time):

Sydney: 5 pm to 2 am EST Tokyo: 7 pm to 4 am EST London: 3 am to 12 noon EST New York: 8 am to 5 pm EST

From this it can be seen that the markets are in fact open 24 hours globally.

24 hour market trade does not elucidate that all 24 hours are commodious for good trading. Early minutes of post opening trading in weighty markets are usually delineated by extremely unstable price movements.

This is why knowledgeable traders will cease their trading for a period of as much as an hour 4 times a day when the major trade destinations commence their market day.

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Thus in theory, trading can be realized from Sunday to Friday, 24 hours on a daily basis. Automated software in the style of a forex robot can even make this physically achievable.

In the face of this, knowledgeable traders will assent to select optimal times and not insist on executing transactions in the forex market during the whole time that it is in operation.

Disclaimer: Forex investing can be dangerous, can end up in considerable losses, and is not appropriate for every person.

This entry was posted on Monday, February 22nd, 2010 at 4:44 amand is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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