What Time Forex Market Open?
The forex market is open twenty four hours a day around the globe, from Monday (when the sun goes down) to friday evening. That is why there is so much talk about what time forex market open for trading and what time forex market close for trading. I have to confess that when I first came onto the forex scene a few years ago it was all about opening and closing forex accounts and I found it to be rather difficult. It took me many months to really get the concept of trading correctly. Luckily I was introduced to some really good books and courses at the beginning which made it much easier for me to learn the basics of trading.
There are two ways to define what time forex market open for trading – daily and weekend. Let’s explore each one of them. This first method of what time forex market open for trading is based on a calendar.
As far as I am concerned this is the best way to do it. If you are going to trade forex you need to be able to access it whenever you want. If you have a job, you may have to stay home or in another location that is peaceful for you to trade forex at night. You certainly want to be able to see your trades every day – especially if you are using an auto trade software trading system. It is vital that you are able to view your trades every day.
Another way of how we determine what time forex market open for trading is based on what time of day the market is open. The time of day you open your account affects the profit or loss that you will make on any one trade. This is why it is important to do your research before deciding what time to trade. This can easily be done by using a current time line graph from your broker. This gives you a good idea of what time of day your best prospects are available.
So if we look at the first way of how we determine what time forex market open for trading, we would learn that the current market hours is derived from the closing prices of world stock markets on a given day. These are updated daily. This is how we get our current open market hours. You would also have noticed that they are not the same around the world. One country’s end of day might be almost midnight in another country. For this reason, different countries use different methods of computing their current open hour.
The second method is based on the number of time zones. If an investor lives in a different part of the world, the current time zone used cannot be exactly calculated. The result would be an approximation. If you are not able to understand or adjust your settings to compensate for these different time zones then using the eastern standard time zone is a good option. This is the standard used all over the world except Japan.
Current market times can be affected by two factors, namely the opening and closing prices. The former being derived from the closing prices while the latter is derived from the opening prices. It therefore follows that when you make a trade, the setting for your entry is done taking into consideration both these values. If you enter and exit at the right time, you would almost always make a profit. If for some reason you are unable to make a profit, you can lose a lot of money without making a thing to show for it. On the other hand, if you know how to correctly read the market hours, you can take full advantage of the conditions during the day and do just enough trades to gain what you want.
The fx markets are very volatile. The slightest change in the market can lead to huge changes within a few minutes. This makes it very important for traders to have the ability to interpret the current market conditions and predict how the prices of currencies will react before they actually happen. This is only possible if one is able to figure out what time of day the market is the most active. For beginners, the best time to learn forex currency trading is during the morning or afternoon.