The forex market is accessible 24 hours a day for 5 days a week(Monday - Friday). The market generally opens at 23:00 EST on Monday and closes midnight on Friday. Though the market is open 24 hours a day, what really matters is the time in which the currency market in which you want to trade is open.
The heavy forex market trading generally starts in London and stops in New York. In between these hours, the market opens in Africa, Abu Dhabi, Islamabad and many other places. You should know the hours of the particular country during which the market will have heavy trading volume. Remember that during the hours you sleep, more than half of the world is actively trading.
More than 60% of investors experience losses during the trading day. In an attempt to decrease the likelihood of losses, many investor are turning to managed accounts. Essentially, they are partnering with other individuals to trade the markets 24 hours a day.
One myth among the investors is they think that during the timings of British, America and Europe the business will be highly competitive. But, this is not always consistently true. So do not make a mistake believing myths, and do your own research.
External Resources:
Forex Market Trading Hours
Forex Market Hours Monitor
Sunday, May 17, 2009
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