I have experience trading stocks and futures but forex is new. My question is because forex trades overnight is there such a thing as a daily closing price and does the chart add bars all through the night? In short, will the chart be different when i look at it in the morning?
Thanks
Since the forex market is open 24 hours, yep the chart does get updated with bars even while the stocks/futures markets are closed in your area. It’s gotta be daytime in some other part of the world, right? So to answer your question, yes, the charts (especially the short-term ones like 15-min or 1-hour) will look very different when you check in the morning.
Your broker may allow you to set your own ‘day’, mine auto sets as the European session. This way my open/closed in the daily charts are based on Euro time.
Well there are brokers such as Hotforex which charts are synchronized with New York close session. Check if server is GMT+2 and charts are basically the same as futures or stocks
Yes, it will look different. There is no closing candle as you would have in trading equities.
Ok thanks.I got it figured out.