Commencing from Monday morning in Australia to Friday afternoon in NY, the forex market is active. Somewhere around the earth at all hours of the day or night, you buy and sell foreign exchange.
This would in reality be applicable in weekdays only as the market stays closed on weekends. It’s more appropriately 24/5.
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You must understand time zones though in order to surmise exactly when the global markets will open and close. It is very easy when represented in UTC.
It was previously known as GMT which is Greenwich Mean Time and is at present UTC signifying Universal Coordinated Time. This is the standard (winter) time in Greenwich, London which is the locus of zero longitude on the earth.
In these terms, the routine operating periods 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.
Since UK is ahead of New York by 5 hours, the forex market all over will open and terminate 5 pm Sunday / Friday in NY, 2 pm West Coast, 8 am Monday/Saturday Australia and 11 pm, in Germany.
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The hours of the different primary national markets are as mentioned below:
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
Portrayed in EST (Eastern US time):
Sydney: 5 pm until 2 am EST Tokyo: 7 pm till 4 am EST London: 3 am until 12 noon EST New York: 8 am till 5 pm EST
It’s apparent here that markets do officiate 24 hours a day in a global sense.
24 hour market trade does not elucidate that all 24 hours are suited for good trading. Just after an important market opens, the prices can be very volatile and changeable.
This is why accomplished traders will discontinue 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 routinely. Automated software in the cast of a forex robot can even make this physically conceivable.
But the prudent trader opts for optimal times and is thus not trading during the complete operating hours of the foreign exchange market.
Note: FX trading is high-risk, can end up in considerable losses, and is not right for every person.