Can You Seriously Trade Currency 24/7?
Forex trading begins in New Zealand on Monday morning till Friday afternoon in the US West Coast. All day and night some place or the other on the globe, forex is traded.
This would in actuality be appropriate in weekdays only as the market is closed on weekends. So probably the appropriate term would be 24/5 instead of 24/7.
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So should you want to keep acquainted about the absolute opening and closing times of the forex market, make use of time zones. It is very easy when conveyed in UTC.
Greenwich or GMT is the past appellation of UTC or Universal Coordinated Time. It is the normal winter time at zero longitude on the globe that is Greenwich, London.
In these terms, the acknowledged operating hours of the forex market would be from Sunday 22:00 UTC to Friday, 22:00 UTC. This is 10 pm in Britain in winter time.
New York is 5 hours behind the UK so the international currency market begins 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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The hours of the different important national markets are as aforementioned:
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
Expressed 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
You can behold that these accord to 24 hour cover.
However, this does not certainly mean that trading will be good at all of these periods. Just after a primary market opens, the prices can be very volatile and changeable.
Many traders will be out of the foreign exchange market for up to an hour four times a day when the financial markets are getting started in these major cities.
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In theory then, trading can be consummated from Sunday night through Friday night, 24 hours daily. Automated software in the shape of a forex robot can even make this physically conceivable.
In spite of this, veteran traders will decide to select optimal times and not assert on executing transactions in the forex market during the whole time that it is operational.
Notice: Forex trading can be dangerous, may result in substantial losses, and is not appropriate for everybody.