Forex Basics

Discussion in 'Forex Trading' started by mytwocents, Mar 29, 2004.

  1. In my never ending quest to understand all that I can about 'trading' in general.... I have come upon Forex....and while I've done a bit of reading on the subject, here is something that seems pretty basic (or not) but I can't find the answer.

    While I realize that the forex market is open 24/6, and since I'd want to be trading during the most volatile times....is there a chart that has some sort of indicators of what times are best to trade which currencies? After looking at this chart www.elitetrader.com/vb/attachment.php?s=&postid=446723
    ...I am confused...or clueless, probably both, but anyway... If USD/JPY are never open at the same time, but yet are volatile, then is this an exception to the 'rule' (I use it loosely) that markets are most volatile when 2 are open?

    Help?!
     
  2. mytwocents: There are charts out there and I have seen the one(s) you're after.

    Although I don't recommend this forum because of the whacky moderators, you may wish to read through the MoneyTec forum.

    It has lots and lots of archived info regarding such things.

    Also try visiting www.aboutforex.com it is Mishak's site.

    Times are apx but I can tell you from my own experience that AUD opens at 5PM EST; Tokyo opens at 7PM EST; UK opens at 3AM EST; NY opens at 8:00AM EST.

    Supposedly when these market overlap trading volume increases.

    As far as tradability goes mostly the market starts trading around 9PM EST Sunday to around 11AM EST Friday.

    Which broker do you use?

    GR
     
  3. fxnewby

    fxnewby

    That's a great question that took me a while to find, too. Check out the PDF file at http://www.newyorkfed.org/education/addpub/usfxm/chap3.pdf. It shows the highest time of volume as well as how the markets overlap each other. Really, it goes without saying (typing) that the highest volume is realized when the European and U.S. Markets overlap. Good luck!
     
  4. DTK

    DTK

    I was wondering if anyone knew of a site that had free Forex charts. I'm not interested in anything fancy or real time. I just want interbanks rates where you can adjust the time frame and period. Something like bigcharts for Forex.

    Thanks.

    (posting here since I didn't think my question warranted its own thread)
     
  5. ig0r

    ig0r

    almost any forex broker has them for free and real time, try ozforex.com
     
  6. www.forexnews.com
     
  7. jrs3

    jrs3

  8. jrs3

    jrs3

    #10     May 11, 2004