is Fx trading truly 24 hour?

Discussion in 'Forex' started by chipmunk, Nov 12, 2008.

  1. Can you trade say the euro/$ 24/7 or is it only tradeable at certain times?

    If so, what are those times best to trade?

    Thank you
  2. You can trade 24/7 but outside of market hours the spreads widen and might make it more difficult to trade. Some say the best time to trade EUR/USD is early morning here because that is when there is a overlap between European and U.S. market but I have never noticed any difference.
  3. Early morning here is where?

  4. MTE


    Yes NY. The overlap is early morning NY and afternoon London.
  5. cstfx


    24/5. Activity over the weekend is non-existent.

    Most will tell you best time to trade is during European market hours, 2am - 12 noon ET. More than 50% of ALL currency trading activity is done during these hours.
  6. MTE


    Also, as far as I know (but I may wrong), it's not really 7 days a week, since there's a time between the close of New York on Friday and open in Asia on Monday, when no trading takes place.
  7. Oanda has a good forex hours graph. Be sure you have your proper time zone entered. London open has good moves, I've lost $ there. NY open is usually pretty smooth, lost some $ there.
    Asian open has some action, lost $ there, etc.
  8. Great so for european traders it is an ideal 8:00am to 5:00pm job?