I think you are just trying to waste everyones time.
I have noticed that with Alpari they actually seem to open trading for the week at 00:00 on Mondays. Since Alpari's servers seem to be GMT+1 they are effectively opening at 11pm GMT on Sunday. Currently the Forex market opens at 9pm GMT (4pm EST) on Sundays. If this is the case then Alpari are opening some 2 hours after the Forex Market itself has opened. Looking back at historic data on and around the reopen period I see big price jumps as a result of this 2 hour lag. I assume that if I have a position open over the weekend with a stop and the stop is exceeded by the time Alpari open then I will be stopped out potentially way past my designated stop.
My trading strategy does not revolve around opening and closing times for the Forex Market. However actually knowing when the Forex market opens and closes is for me something worth knowing.
I will try with my questions again.
Does the Forex Market itself open at 10am Monday Wellington NZ local time and close at 5pm Friday New York local time?
Will the forex market open at 5pm EST on Sunday 11th March 2007?
Will the forex market open at 6pm EST on Sunday 18th March 2007?
Thanks in advance.
Thanks for the info Mini, much appreciated.
TraderRaj, I can assure you that I am not trying to waste anyones time. I believe I have a genuine question which I was hoped someone could help me with. I am sorry that you were unable to answer my question but thanks for replying anyways.
With all these information, you still haven't found your answer. Hmmmmm! This may help you get your specific answer but you may need to do some work like downloading and time conversion. Here is the link to: http://products.wrconsulting.com/en/index.php to get the Zone Tick World Time. In addition, I have uploaded the FX Times which you can download and save on your desktop. Run it. It should be in synch with DST change. Just remember, Florida EST or EDT is New York Time.
Thanks fxcruiser, that is a nice little program, I appreciate the heads-up.
The main reason for my original question stems from http://www.worldmarkethours.com/Forex/Defaulta.htm?12,0,1,0,9 which suggests (either rightly or wrongly) that the Forex market has defined open and close times.
Further, worldmarkethours seems to suggest that the number of trading hours available in any given week in the Forex Market can fluctuate when New York and Wellington switch from DST to Standard Time during the course of the year.
That's how I read it anyway and my original questions were merely intended to further my understanding of Forex Market trading hours.
I think I understood your question. Because of forex market is a dsitributed market all over the world (NY, London, Frankfurt, Sydney, Tokyo, ....), there is no designated open or close time of the "market" because that is not "one" market.
At different brokers you could trade from different times and mostly it depends on the kind of deal routing, f.e. via dealing desk or automated routing. On some brokers you can even trade on the weekend (outside the "normal" market hours, but the spreads are not attractive)
For your concrete trading approach it might be for more interest if the stop handling of your broker guarantees the execution prices even over weekend and if they close your account when the margin is not enough (mostly brokers do that) or if they perform a margin call which you must follow with new money.
My advice - select a broker which you think is the right for you, accept and work with his conditions and then concentrate on trading.
session time marker
the indicator attached will be ploted in a separate window, it will have horizontal bars in different colours showing the different sessions,
blue for New Your.
Gold for London.
Green for Sydney.
Brown for Tokyo.
I attached an indicator and hope some one fineds useful and imporve on it and post the impovemnet back here.
the problem I am having with it is that it will not plot as soon as I attach it to a chart but only when I go to the edit window and close the edit window, "even if I don't edit anything".
any improvement or feedback is welcomed.
Here is a pretty nice utility that you can use to monitor FX market hours.
Found this on a FX site. Enjoy!
Thanks for sharing!
Yes, this simple little software is very handy to monitor Forex Market Hours.
And it's FREE...
Hello there..i've idea
original iparamonwork only show UK and US market open..
it is possible add the Asian (Japan) market Open like this?
can anyone create it?
Session Times Indicator
I'm looking for an indicator that shows what session (Sydney, Tokyo, London, New York) is currently open and the time in GMT. Broker of choice is IBFX and I assume I'll need to ajust offset?