All traders are well aware that the Forex market is open 24 hours 5 days a week. And every once wondered: At what time to trade better, and when to refrain from any trades? On this and on how to determine their relative time UTC (Coordinated Universal Time) or GMT (Greenwich Mean Time), and we will talk in this post.
Technically trading week starts on a Sunday morning in Tel Aviv (Israel), but due to the small volume of trading this session ignore. But the real beginning is considered the beginning of trading in Wellington (New Zealand). But here, a very small business marketplace, and so the market comes to life only when the bidding starts in Tokyo (Japan) and Sydney (Australia). Is then connected the largest trading center in London (England) and at this time, as a rule, the market is much more active. Peak trading activity occurs when the London session is added and New York (the second largest trading volumes Trading Centre).
So during the day decided to allocate 4 main trading sessions:
- Australia and Oceania (Sydney, Wellington) – GMT 22:00-06:00
- Asian session (Tokyo, Singapore, Hong Kong) – GMT 00:00-09:00
- European Session (London, Zurich, Paris, Frankfurt) – GMT 07:00-16:00
- American session (New York, Chicago, Toronto) – GMT 13:30-20:00
Where and how much to UTC begins or that trading session clearly seen in these stock clock:
These clocks showing real time global foreign exchange market and help to accurately see the beginning and end of sessions. Hour hand stock clock unlike ordinary clock only does 1 revolution per day (one rotation every 24 hours), and the minute and second hands to make one rotation in 60 minutes and 60 seconds, respectively, as in ordinary clock.
The weekend clock runs in demo mode. Simple principle of stock clock you can see in the picture below:
Scale structure of stock clock:
In addition, the stock clock will help determine the time offset your broker about the time in UTC or GMT, which may be necessary for setting the properties in some experts advisors. For example, on the clock of your broker is now 15:32, and 13:32 on the stock clock. In this case, the time of your broker - UTC +2 (GMT +2).
In fact UTC (Coordinated Universal Time) and GMT (Greenwich Mean Time) show the same time. I now I will not write the history of formation of these systems timing. Except to say that they vary a lot for 1 second view of the fact that time is GMT unstable within one second per year, and the system UTC younger than GMT.
So, the system UTC accepted as a more convenient clock stock and Forex market time is calculated from this time.
Free Download Market Clock