Is Forex Trading a 24/7 Game?
Forex trading begins in New Zealand on Monday morning till Friday afternoon in the US West Coast. Somewhere around the earth at all hours of the day or night, you buy and sell foreign exchange.
It does wind up on weekends so it’s not a valid 24/7 market. 24/5 would be more accurate.
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You must understand time zones though in order to determine exactly when the global markets will open and close. It is very lucid when conveyed in UTC.
This is Universal Coordinated Time, previously identified as Greenwich Mean Time. It is the actual winter time at zero longitude on the globe and that being Greenwich, London.
So, the usual currency market hours are 22.00 Sunday UTC to 22.00 Friday UTC. This is 10 pm in the United Kingdom in winter time.
New York is 5 hours behind the UK so the universal currency 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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The hours of the different leading national markets are as aforementioned:
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
Alternately we can connote 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
You can comprehend that these correlate to 24 hour cover.
24 hour market trade does not portend that all 24 hours are appropriate for good trading. Just after a leading market opens, the prices can be very volatile and changeable.
This is why veteran traders will cease their trading for a period of as much as an hour 4 times a day when the major places commence their market day.
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Thus in theory, trading can be actualized from Sunday to Friday, 24 hours on a daily basis. It even becomes imaginable physically owing to trading software that utilize robots.
Nevertheless, a safe trader will choose his times and will not be active during all of the forex market hours.
Notice: Forex investing can be dangerous, can end up in substantial losses, and is not appropriate for everyone.
