Trading Currency 24/7 - Is This Indeed Possible?
Beginning from Monday morning in Australia to Friday afternoon in NY, the forex market is active. All day and night everywhere on the globe, forex is traded.
It does adjourn on weekends so it’s not a valid 24/7 market. 24/5 would be more accurate.
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If you want to know the accurate times that the markets open and close, you have to take time zones into consideration. A great technique to do this would be to use UTC units.
This is Universal Coordinated Time, erewhile referred as Greenwich Mean Time. This is the standard (winter) time in Greenwich, London which is the site of zero longitude on the planet.
In these terms, the regular operating periods of the forex market would be from Sunday 22:00 UTC to Friday, 22:00 UTC. This accords to10pm winter time in the UK.
New York is 5 hours behind the UK so the international 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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In short, the major national forex markets have the these hours:
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
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
From this it can be seen that the markets are certainly open 24 hours globally.
24 hour market trade does not designate that all 24 hours are suited for good trading. Just after an important market opens, the prices can be very volatile and variable.
This is why knowledgeable traders will delay 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 effected from Sunday to Friday, 24 hours on a daily basis. Automated software in the cast of a forex robot can even make this physically conceivable.
Regardless of this, veteran traders will decide to select optimal times and not insist on executing transactions in the forex market during the whole time that it is working.
Notice: Forex trading can be dangerous, can end up in considerable losses, and is not appropriate for every person.
