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While working in the Forex market
In the forex market work time is not limited to day traders open and close their rates during the working days of the week. Weekend at the market are Saturday and Sunday, in addition there are Bank holidays during the period of national holidays. Weekly trading session opens on Sunday at 23.00 UTC (GMT) in Tokyo and ends on Friday at 22.00 in Chicago.
But the actual trade does not stop during the holidays, as not all countries are celebrated events recognized by the majority of the population. For example, banks in Muslim countries work on 1 January, at a time when the whole world celebrates coming of the new year. Muslims 1 January is a Bank holiday.
Even at the weekend the market is trading, but the market size is very small, the chances to conclude a bargain and make a profit, unlikely. Banks at the weekend though, and get information about quotes, make trades only with long-term contractors.
Activity of trading in different time zones corresponds to the daytime of the national currency.
The largest banks, which have a significant impact on the dynamics of exchange rates are:
• US: Federal reserve,
• Germany: Bundesbank,
• The Bank Of England,
• The Bank Of Japan.
Analysts called the most favorable watch forex for major operations. This time is from 14.00(GMT) to 18: 00(GMT) when the London, Frankfurt and new York simultaneously carry trades.
The novice trader from the beginning it is necessary to study indices, currency pairs characters. It is important always to know the schedule of trading sessions. Despite the fact that forex hours are not confined to the working day of the work week, various regional markets behave differently. It is also necessary to take into account the existing difference in time on different continents.
A priori, it is necessary to know all the basic postulates and successful trading watch Forex in order to be able to make deals. But for successful trading is to have a lot of patience and analytical mind.
|Category: Forex | Added by: (29.10.2017)