Is Forex Trading a 24/7 Operation?
The foreign exchange market begins from Monday morning in Tokyo, Japan to Friday afternoon in New York. Someone around the globe is occupied in forex trading at any given instant.
This would actually be applicable in weekdays only as the market stays 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, consult time zones. A plain technique to do this would be to use UTC units.
This is Universal Coordinated Time, erstwhile identified as Greenwich Mean Time. This is the standard (winter) time in Greenwich, London which is the spot of zero longitude on the earth.
In these terms, the routine operating schedule of the forex market would be from Sunday 22:00 UTC to Friday, 22:00 UTC. This is 10 pm in the United Kingdom in winter time.
Since UK is ahead of New York by 5 hours, the forex market universally will open and wind up 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 important 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
Instead we can depict 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 accord to 24 hour cover.
24 hour market trade does not designate 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 veteran 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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So in a sense you may trade 24 hours a day from Sunday night to Friday night. Tangibly, In actuality, this is made within reach foreign exchange software bots.
At any rate, a safe trader will choose his times and will not be active during all of the forex market hours.
Disclaimer: Foreign Exchange trading is not risk free, can end up in material losses, and is not suited for every person.
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