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How to use the Forex Market Time Converter
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The Best Times to Trade the Forex Markets
They watch various economic calendars and trade voraciously on every release of data, viewing the hours-a-day, five-days-a-week foreign exchange market as a convenient way to trade all day long. Not only can this strategy deplete a trader's reserves quickly, but it can burn out even the most persistent trader. Unlike Wall Street, which runs on regular business hours, the forex market runs on the normal business hours of four different parts of the world and their respective time zones, which means trading lasts all day and night.
So what's the alternative to staying up all night long?
Forex Market Sessions in MT4 and Malaysia Time
If traders can gain an understanding of the market hours and set appropriate goals, they will have a much stronger chance of realizing profits within a workable schedule. New York open 8 a. When companies merge, and acquisitions are finalized, the dollar can gain or lose value instantly. Tokyo, Japan open 7 p. Japanese yen. Sydney, Australia open 5 p. While it is the smallest of the mega-markets, it sees a lot of initial action when the markets reopen on Sunday afternoon because individual traders and financial institutions are trying to regroup after the long pause since Friday afternoon.
London, Great Britain open 3 a.
Online Trading | Trade Shares, Forex, Indices, Commodities & Metals | LCG
Technical trading involves analysis to identify opportunities using statistical trends, momentum, and price movement. Currency trading is unique because of its hours of operation. The week begins at 5 p.
Currencies are usually priced to four decimal points where the smallest trading point percentage is known as a pip. Currencies move up and down affected primarily by supply and demand. Forex trading costs are determined by the bid buying — ask selling spread price difference. Forex is quoted in pips aka percentage in points with up to 5 decimal points. Lot sizes can be categorized as standard, mini, micro or nano lots. The forex quote thus shows the cost to buy one unit of the base currency.
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