Is the Currency Market Open All the Time?
It’s important to grasp the forex trading times if you’re going to start trading currency on the forex market as a pursuit or a technique of making some extra money. Foreign exchange is a global market so it crosses many alternative time zones. The forex market is open twenty-four hours a day, but only five days each week. But generally it is open 24 hours Monday through Fri. In reality in several parts of the world, forex trading times begin on {sunday|Sun. evening or even earlier. This is as the 1st markets to open are in Australia and New Zealand, which are before most other bits of the world . At eight am Monday in Sydney it is ten pm Sun in London, 5 pm Sun in NY and 2 pm Sun in los angeles. Those times may alter a little due to seasonal hour adjustments in the different countries except for most people it implies that if you want to begin trading Sun. sunday night, you can. Nonetheless the market is going to be pretty quite at that time, at least till the clock gets around to eight am in London and the English and western european trading floors open up for business. Some systems are based around a quiet market but for most amateurs it is better to begin trading at busier times when you are more likely to get the prices that you see. This means that the best forex trading times for amateurs are when the London and New York markets are open, and especially during the overlap of those times. These are the two busiest trading floors. The overlap happens when it’s morning in NY and afternoon in the United Kingdom, and that’s when you’ll see the highest volume of trading in almost all currency pairs. Remember, we are not restricted to trading our own states currency, so a trader in new york may be dealing in EUR/GBP or simply about any other pair. At the other end of the week the situation repeats, with the Sydney market closing first, when it is still Thursday in many other time zones. The last of the enormous markets to close is New York at 4 pm EST on Fri. So foreign exchange trading times run twenty-four hours per day from 5 pm sunday to 4 pm friday EST.
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