Markets Closed?

[chobo2]

Hi

I was shocked to find the markets closed today. I thought they where open 24 hours a day from Sunday to Monday. No book I ever read has said that the forex markets where closed on Christmas day.

[TraderBoy]

If you do a little more research, even just on this site, you will find that it is closed on weekends AND holidays. And even if they are open (which they are not at this time) you wouldn't want to trade when there are so few other traders doing business because you may not get your orders filled.

[chobo2]

Originally Posted by TraderBoy

If you do a little more research, even just on this site, you will find that it is closed on weekends AND holidays. And even if they are open (which they are not at this time) you wouldn't want to trade when there are so few other traders doing business because you may not get your orders filled.

Well I am just following like I said what my books stated about forex.

Currency trading doesn't even stop for holidays when other financial markets, like stocks or futures exchanges, may be closed. Even though it's a holiday in Japan, for example, Sydney,Sinapore and Hong Kong may still be open. It might be the Fourth of July in the United States, but if it's a business day, Tokyo,London, toronto, and other financial centers will still be trading currencies. About the onlyholiday in common around the world is New Year's Day, and even that depends on waht day of the week it falls on.

Currency Trading For Dummies
by Mark Galant and Brian Dolan
Copyright 2007

States nothing about Christmas Eve(some places Christmas). So how I understood it that it should be open. I read in that book or another that the big banks may be closed so trading maybe very slow and probably not a good idea to trade but if you want to trade you can.

But I could not even place a trade even if I wanted too...

[mp6140]

time for a new book chobo !

LOL

see, thats why babypips is such a good learning site -- you just learned something !

enjoy and trade well

mp

Originally Posted by chobo2

Hi

I was shocked to find the markets closed today. I thought they where open 24 hours a day from Sunday to Monday. No book I ever read has said that the forex markets where closed on Christmas day.

[TraderBoy]

Yeah well, all the markets are definitely closed on Saturday so your ability to trade then is restricted, thus you can trade 24 hours a day, six days a week.

LoL, listen to mp, he may be onto something.

However, if you really think about it, Christmas is A MAJOR HOLIDAY.

New Year's IS EVEN MORE OF A MAJOR HOLIDAY.

If you really think about it, we don't have too many holidays which most of the world celebrates in unison.

Thus, just try to take it easy and enjoy these coming holidays...you've got the rest of next year to trade all you want. Merry Christmas and a Happy New Year in advance!

[chobo2]

Originally Posted by TraderBoy

Yeah well, all the markets are definitely closed on Saturday so your ability to trade then is restricted, thus you can trade 24 hours a day, six days a week.

LoL, listen to mp, he may be onto something.

However, if you really think about it, Christmas is A MAJOR HOLIDAY.

New Year's IS EVEN MORE OF A MAJOR HOLIDAY.

If you really think about it, we don't have too many holidays which most of the world celebrates in unison.

Thus, just try to take it easy and enjoy these coming holidays...you've got the rest of next year to trade all you want. Merry Christmas and a Happy New Year in advance!

True normally I would be out right now on Christmas Eve but where snowed in(the worst snow in a very very very long time).

So not too much else to do lol.