Friday, May 20, 2011

When currencies may be traded?

When currencies may be traded?

Forex currency symbols are always three letters, where the first two letters identify the name of the country and the third letter identifies the name of the currency of that country.

When currencies may be traded?
The spot FX market is unique within the world markets. It's like a Super Wal-Mart, where the market is open 24 hours a day. At any time, anywhere in the world financial center is open for business, and banks and other institutions to exchange currencies every hour during the day and night with generally only minor gaps on the weekend.

The foreign exchange market followed the sun around the world so that you can trade late at night (if you're a vampire) or in the morning (if you're an early bird). Keep in mind that though, the early bird does not necessarily get the worm in this market - you can get the worm but the bigger, nastier bird of prey can sneak up and eat you ...

Time zone GMT New York
Tokyo Open 19:00 12:00
Tokyo Close 4:00 9:00
London open 3:00 8:00
London Close 12:00 17:00
New York Open 08:00 13:00
05:00 22:00 New York Close

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