shop opening times
Just thought I’d add my thoughts to this London open……. The market as we all know is OTC therefore there is no ‘bell’ and nothing ever officially ‘opens’. I would think of the open in the context of ‘how many people are in’. I would say a typical bank spot trader gets into work about 6.30-7am (London time regardless if it’s BST or GMT) at which they will be ready to take orders that come in and work them but they will also want to catch up with the overnight news, trading range and most probably have a handover call with their asia counterparts. As for hedge funds and other players they come in when they want and probably dependant on the type of day/week.
Anyway I would say the activity from London based participant’s starts at 6 but when really starts to get going is dependant on the day and that is as easy to predict as the direction! Something as simple as tube/train strike could affect the market liquidity!
I quite like the above system and it doesn’t get much simpler!
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