Trading Foreign Exchange 24/7 – Is This Actually Possible?
Commencing from Monday morning in Australia to Friday afternoon in NY, the forex market is in business. Somewhere around the earth at all hours of the day or night, you deal in FX.
This would in reality be appropriate in weekdays only as the market stays closed on weekends. So probably the suitable term would be 24/5 instead of 24/7.
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So should you want to keep acquainted about the genuine opening and closing times of the forex market, consult time zones. It is very easy when represented in UTC.
Greenwich or GMT is the one-time sobriquet of UTC or Universal Coordinated Time. It’s in reality the standard time in London, Greenwich to be correct which also happens to be explicitly zero longitude on the globe.
Therefore the standard foreign exchange market working hours would be starting 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 internationally 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 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
Illustrated 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
It’s visible here that markets do function 24 hours a day in a global sense.
24 hour market trade does not designate that all 24 hours are suited for good trading. Early minutes of post opening trading in weighty markets are usually typified by extremely unstable price movements.
Many traders will remain out of the currency market for up to an hour four times a day when the financial markets are getting up in these major cities.
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So in a sense you will be able to trade 24 hours a day from Sunday night to Friday night. Tangibly, In actuality, this is made practicable 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.
Note: Currency investing is speculative, may result in material losses, and is not appropriate for everybody.
