Can You Seriously Trade Currency 24/7?
Beginning from Monday morning in Australia to Friday afternoon in NY, the forex market is abuzz. Someone around the globe is occupied in forex trading at any given hour.
Yet it is not a 24/7 market since it does ceases to trade during weekends. So perhaps the suitable term would be 24/5 instead of 24/7.
forex ambush
So should you want to keep apprised about the appropriate opening and closing times of the forex market, consult time zones. A plain means to do this would be to use UTC units.
Greenwich or GMT is the one-time appellation of UTC or Universal Coordinated Time. This is the standard (winter) time in Greenwich, London which is the spot of zero longitude on the earth.
In these terms, the regular operating periods of the forex market would be from Sunday 22:00 UTC to Friday, 22:00 UTC. In UK wintertime its 10 pm.
New York is 5 hours behind the UK so the international foreign exchange 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.
forex automoney
In brief, the major national forex markets have the the below mentioned hours:
London: 8 am to 5 pm UTC Sydney: 10 pm to 7 am UTC Tokyo: 12 midnight to 9 am UTC New York: 1 pm to 10 pm UTC
Contrarily, in Eastern US time or EST:
Sydney: 5 pm until 2 am EST Tokyo: 7 pm until 4 am EST London: 3 am until 12 noon EST New York: 8 am till 5 pm EST
It’s visible here that markets do officiate 24 hours a day in a global sense.
24 hour market trade does not portend that all 24 hours are commodious for good trading. Just after an important market opens, the prices can be very volatile and changeable.
This is why accomplished 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.
forex megadroid
In theory then, trading can be accomplished from Sunday night until Friday night, 24 hours daily. Tangibly, In actuality, this is made practicable foreign exchange software bots.
Nevertheless, a careful trader will choose his times and will not be active during all of the forex market hours.
Note: Currency trading can be dangerous, may result in substantial losses, and is not suitable for everyone.
