Forex 7 days a week

Forex 7 days a week

By using these kinds of software to fit your liking, you will be able to monitor all of the said data and information anytime during the day, even 24 hours a day 7 days a week if you have to. All of these can be done thanks by using forex software through your computer via the internet 5.  · Is the forex market open 7 days a week? Because it is decentralised, the forex market is technically open 24 hours per day and 7 days per week. However, most dealers close operations on the weekend, so liquidity in the market can become very thin. How many days a week is the forex market 4. 9. · The cryptocurrency market is a good example of a market that is open 24 hours a day, 7 days a week. On the other hand, Forex scalpers should avoid weekend trading (Sydney opens on Sunday afternoon EST time), as the Forex market can be quite illiquid and carry high transaction costs at the start of the Sydney blogger.comted Reading Time: 7 mins

Can you trade forex 7 days a week?

I am always asked about the weekend gaps, and whether we can trade them and make some money or not. This is a good chance to have a post about the gaps, because yesterday the forex market opened with some relatively big gaps with many of the currency pairs.

Gap is an empty space you can see between two candlesticks or bars. It appears on the charts because of the price movement during the time that the chart had not been updated, like when the market is closed. and closes at p. And this difference makes the gap. Look forex 7 days a week the several gaps on the Netqin Mobile Inc daily chart the black arrows.

These gaps are completely normal on the stock market, and you can see them with any stock instrument:. Forex market is open 24 hours per day and 5 days per week. However, gaps are also very common in forex market to form, when the market is closed during the weekend. Most people think that the currency market forex is closed during the weekend, but this is not true.

It is only closed to retails traders, but it is always open for the central banks and the related organizations. Currency transactions are always done electronically and can not be stopped even forex 7 days a week one second. When the market is open and buying and selling are ongoing, then the price also goes up and down, because the price changes based on the supply and demand, and when there is supply and demand, the price changes also.

That is why when the market opens to the retails traders on Forex 7 days a week afternoon at 5pm EST, the price has a visible difference compared to the level it was closed on Friday afternoon.

If the price opens higher than the Friday afternoon price, we will have a gap up, forex 7 days a week. If it opens lower than the Friday afternoon price, we will have a gap down. It means if the price opens with a gap down, it will go up to cover or fill the gap between the Friday afternoon and the Sunday afternoon price, forex 7 days a week. If it opens with a gap up, then it will go down to fill the gap.

I have seen that in many cases this is true and the price really fills the gap. Some traders use this to make money. When they see there is a gap up, forex 7 days a week, they go short and wait for the price to fill the gap and then they get out.

When there is a gap down, they go long and wait for the price to fill the gap and then they get out. I trade based on what I see on the chart. I have to see a setup formed on the chart to enter the market. My other question from these people is that where should we place our stop loss? In many cases the price keeps on going against the gap before it turns around and fills the gap. And sometimes it never turns around to fill the gap.

So the question is where should our position be stopped out? There is no rational and technical answer for this question, forex 7 days a week. Therefore, I never trade the gaps. That is it. Yes, and no. Yes, because you have to know that you should not trade based on the rumors like what people say about the gaps. Forex 7 days a week no, because the most recent gaps that are appeared on the charts can create some strong candlestick patterns for us.

Last night, it opened at 0. The current daily candlestick forex 7 days a week opened at 0. Of course for a Bullish Abandoned Baby we need a Doji, but it is still ok to have a small body. Bullish Abandoned Baby has to be confirmed by the next candlestick. If you like to read more about the gaps, there are already some articles on LuckScout.

Many of them are not written by me, but I am sure you will learn a lot reading them:. Two weeks ago I talked about the weekend gaps, because some of the currency pairs opened with a relatively big gap at that time. To know what the weekend gaps are and how some traders trade them, and whether I recommend you to trade the weekend gaps or not, please read this article: What Are the Weekend Gaps? This weekend, the GBP cross currency pairs opened with an extraordinary big gaps.

This unbelievable gap is related to GBP excessive weakness during the past several days. Whatever the reason is, forex 7 days a week, fortunately the gaps were all in our favourite direction with the positions we already had. Click on the image:.

There is an important question regarding the weekend gaps. Let me explain a little more what I mean by this question.

If we hold our positions and pending orders during the weekend, and then the market opens with a gap either down or upwhat will happen to our pending orders? Will they be triggered exactly where they are set, or they will be triggered where the market opens on Sunday afternoon?

Here I have explained that the currency market is closed only to retail traders during the weekend, but it is always open 24 hours per day and 7 days per week. That is why we forex 7 days a week a gap on our charts, when the market opens on Sunday afternoon EST. If the markets was also open to us during the weekend, then instead of the gaps, we would have candlesticks on our charts.

We see the new price only when the market opens on Sunday afternoon. This is correct that in reality the market is open during the weekends, and so our position should be stopped out exactly like the price hits our stop loss during the weekdays that our platform updates normally. But this is not what we see on the platform when it becomes updated on Sunday afternoon. Our position will be closed where the market opens on Sunday afternoon, not where our stop loss is placed.

This is an outrage, right? Yes, it is. But it is what it is. So here is something that will happen with different positions, stop loss and target orders, and pending orders:. This is what everybody may think, if he reads the above bad news. If we hold our positions during the weekend, and the market opens with a big gap against our position, then our loss will be much bigger than our stop loss.

I showed you two examples at the beginning of this article, and you saw that the huge gaps we had this weekend, not only did not make any problems for us, but also made a lot more profit, because our positions were at the right direction. This is because of nothing, but taking the positions based on the strong setups. I wrote such a long story to emphasize on the importance of following of the strong setups and ignoring the weak and questionable ones.

So pending orders will not be any problems, forex 7 days a week. What if the market opens with huge gap against us, even if our position is taken based on a very strong setup? Everything is possible in this market and business. It is possible that the market opens with a huge gap against you, even when your position is taken based on the strongest trade setup ever. You can lose a lot. However, there are a few things you have to consider:.

How to turn $400 to $10,000 in 7 DAYS trading forex

, time: 8:32

What Are the Weekend Gaps in Forex Market?

8.  · Here I have explained that the currency market is closed only to retail traders during the weekend, but it is always open 24 hours per day and 7 days per week. That is why we see a gap on our charts, when the market opens on Sunday afternoon EST 5.  · Is the forex market open 7 days a week? Because it is decentralised, the forex market is technically open 24 hours per day and 7 days per week. However, most dealers close operations on the weekend, so liquidity in the market can become very thin. How many days a week is the forex market 4. 9. · The cryptocurrency market is a good example of a market that is open 24 hours a day, 7 days a week. On the other hand, Forex scalpers should avoid weekend trading (Sydney opens on Sunday afternoon EST time), as the Forex market can be quite illiquid and carry high transaction costs at the start of the Sydney blogger.comted Reading Time: 7 mins