So what happens during market close and what is considered a daily market close?

5pm on Friday and all the charts I’ve been watching go flat. I ask this question at the oanda help desk, and they say trading still happens, but the spread is bigger. If trading still takes place, thats great news since I’ll have the most time on Saturday to mess with all of this.

I’m also hearing about a daily market close, like 4pm US. What is that and how does it affect me, when I won’t get to touch any of this for another 2 hours when I get home from work? I think I read something about paying interest if your not cashed out by a daily market close. Quite confused about this.

This is from the school.

Market Hours | 12th Grade: Market Hours | Learn Forex Trading

Not sure what the person at Oanda was on about but my charts
stay flat all over the week-end until approx. 2000hrs GMT Sunday. I trade
with Oanda live & demo, the charts are basic but servicable, I also
use MT4 with feeds from North Finance & Alpari.

The Forex market has an imaginary close time at 2200hrs GMT, all
interest rates (or swap rates) are then calculated, dependant upon
which pairs & whether short or long decides whether you receive
positive or negative interest rates.

ie Eur/Jpy, long position, positive interest, short, negative interest.

Oanda allows you to open trades over the weekend, but the spread is huge. Not a good idea. However, the price is not going to move over the weekend since all banks and financial institutions are closed. Price can change dramatically over the weekend but you will not see this change reflected in the charts until market open somewhere in Monday morning.