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Can You Seriously Trade Foreign Exchange 24/7?

Commencing from Monday morning in Australia to Friday afternoon in NY, the forex market is abuzz. Someone around the globe is occupied in forex trading at any given instant.

This would in actuality be applicable in weekdays only as the market remains closed on weekends. It's more like 24/5.

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If you want to know the correct times that the markets open and close, you have to take time zones into consideration. By using UTC, it becomes an undemanding method.

Greenwich or GMT is the past sobriquet of UTC or Universal Coordinated Time. This is the standard (winter) time in Greenwich, London which is the spot of zero longitude on the planet.

In these terms, the acknowledged operating schedule of the forex market would be from Sunday 22:00 UTC to Friday, 22:00 UTC. This corresponds to10pm winter time in the UK.

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.

forex automoney
The hours of the different leading national markets are as aforementioned:

London: 8 am to 5 pm UTC Sydney: 10 pm to 7 am UTC Tokyo: 12 midnight to 9 am UTC New York: 1 pm to 10 pm UTC

Contrarily, in Eastern US time or EST:

Sydney: 5 pm through 2 am EST Tokyo: 7 pm until 4 am EST London: 3 am until 12 noon EST New York: 8 am through 5 pm EST

It's clear here that markets do work 24 hours a day in a global sense.

However, this does not consequently mean that trading will be good at all of these periods. Early minutes of post opening trading in weighty markets are usually distinguished 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 started in these major cities.

forex megadroid
So in a sense you will be able to trade 24 hours a day from Sunday night to Friday night. Automated software in the shape of a forex robot can even make this physically achievable.

But the prudent trader trades during optimal times and is thus not trading during the consolidated operating hours of the foreign exchange market.

Notice: Forex trading is not risk free, can result in considerable losses, and is not right for everyone.