Trading On "Off Day"

If your broker close trading on saturday (mine does), can we do the following. Broker A from US close on saturday and broker B from Japan close on thursday. If we register with both of them, then we can trade forex 24/7, right?

The forex market is open 24/5.5

It closes at 4pm EST Friday and opens again at 5pm EST on Sunday. There is no trading for 1.5 days on the weekend. I know, because none of my charts are moving on the weekend.

On these days the market is extremely quiet, so it isn’t a good idea to trade on these days.

Oanda allows weekend trading. The spreads are massive, though.

Just a side note really, but babypips doesnt recommend trading the weekend, as it is one of the least traded days, it comes under the heading days to trade if you want to loose money.

But surely the weekdays present more then enough opps for anybody to collect pips?

Regards

N

Sunday evening has been good to me. :slight_smile:

I do my best. :smiley:

This is what bothers me about forex markets. Biggest lie is that its open 24x7. it is NOT. It actually “closes” at around 5pm New York EST and then “opens” at the beginning of the Asian session. A day and half passes where no trading occurs.

Does it seem perversely weird to anyone else that with over 1 trillion in daily transactions that suddenly nobody trades? Surely there are ways online to continue trading between private, constenting adults, in the same manner that such trades are conducted during “regular” forex hours. Trading currencies are so ubiquitous that surely a process is existence online where trades can be conducted between private parties with the same market mechanisms that we trade with with brokers.

It would be more productive to my schedule that I could have liquidity on the weekends because I have a regular job during the week.

Would anyone care to comment?

Well as it was stated earlier in this thread Oanda is a broker that allows weekend trading. If you want to partake in weekend trading that is your prerogative but liquidity is low as most banks across the world are closed.

Trading doesn’t come to a complete halt over the weekend but it’s in very limited terms.

There’s 10 high-quality times to trade per week, and that’s the london open and the US open, 5 days a week. 10 Excellent opportunities to make 50+ pips? That’s plenty for me. It’s nice knowing price ain’t going anywhere on the weekend! Time to relax

Forex is closed to retail trading but remains open for companies to do business. Retail trading is only a small percentage of the total trading volume. The rest of it is made up of businesses trading their dollars not for profit but to purchase things they need from other countries. They are not in it for a profit. just an exchange of funds. But many businesses do not trade on weekends because low liquidity increases spread. There are not 3 Trillion dollars in every Tic of your chart. Thats the total amount of tics in a given day acrtoss all curency pairs. You always have to have a buyer and a seller. Becuase brokerages are closed on the weekends we cannot trade unless we have Direct Bank access. And you need a lot of cash to have that. So much it would be pointless to trade in forex because you could just sock a few million in to a Bond fund and live off the interest.

Brokerages (bucket shops)take the opposite side of your trade to provide liquidity and they know the favor is with them. Thats how they stay in business. And why they take the opposite side of the trade. When the market is trending strongly the bucket shops lose money but they provide a service.

Want a shock! Go to your local bank and try to exchange hard US dollars of Hard Euros. You will pay a much larger spread than here on the Electronic grid iron.

STPs do business directly with the banks so they just make money on commissions. the banks take the other side of the trade. But the banks don’t like to deal with small potatoes. They want standard lots so unless you got lots of money you are stuck in the bucket shops and STPs (Which just bundle their orders and send them to the bank in standard lots.)

Point taken, really. I like my relaxation time, and the market times you pointed out.

My point was that in a very liquid market, like forex, that all of it sudden, it stops.

Of course no one would trade Oanda or any other broker that offers “weekend” trading, there’s no volume, which is tantamont to no market. Its not an advantage at all.

It just seems to me that trading itself should just dry up. If I was holding a 50 pip profit and someone else was also holding a 50 pip profit on a trade, then there shouldn’t be any reason why these two parties should trade issue a transaction on a weekend. How many billions of outstanding trades are just sitting around over the weekend?

Oanda does not offer weekend trading.