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 Explain me the market hours
 
 2/2/2007 5:04:04 PM
User is offlinecameron9a28
2 posts


Explain me the market hours
I have not yet begun to trade, but please explain the Forex and Market Hours  I know what times the US, London and European market opens.  I am in the Eastern time zone in the US so for example, the London is open from 3 AM-12PM and the US is open 8 AM-5 PM. The problem is that I just looked at my live charts of the GBP/USD and it is still trading at 6:00 pm Eastern.  What exactly closed at 12 PM for the GBP and 5 PM for the USD if it is still being traded?  The Dollar/Swiss trade is going on still. But what will happen if the USD market closes at 17hrs East?  Thanks to anyone!
 2/2/2007 5:08:33 PM
User is offlinekaiden
10 posts


Re: Explain me the market hours
Forex works throughout the day except when the bank closes (Banks in Japan opens on Saturdays). Most forex brokers are in U.S. and there must be a time-line where the rollover (swap) takes place, so 5:00PM EST is the chosen time. At that very time, the trading system calculates if you gain or lose on the interest differentials. The U.S. forex market actually never closes. You can continue to trade until the broker closes on Friday’s 2nd half.
Regarding the time stamp on the chart. Make sure you ask your broker what time zone they use. Different dealers use different time zones on charting packages. To look for GMT or EST it depends upon you.
 2/2/2007 5:10:57 PM
User is offlinejeffery
3 posts


Re: Explain me the market hours
Having been a regular reader of the site for a while I thought that I should post as I now have something worth saying...
The trading method I like most is binary bets from IG index but I have been invited to beta test a new financial betting site which offers some pretty exotic structures, far more exotic than the one touches and binary bets that I am used to from IG.
They opened for beta yesterday and I saw an invite to beta test the the trading with $10k virtual on another forum today.
 URL and access password. They are also running a competition for cash prizes to see who can win the most from trading their exotic bets.
The FX ones are SO COOL. Never seen anything like this before!
I am not an agent of theirs and they are not selling anything (it is a free competition) so please do not think I am pushing anything as this is my first post here.
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