Hello,
I’m also making my way through School of Pipsology. When I search for opening/closing times on the internet, I often find contradicting information. I made an overview of the times which occured the most.
Now my question is: are these times correct? And as I’m from Belgium, I want to convert these times to my timezone, as shown in the 2nd and 4th table (winter: GMT+1, summer: GMT+2). Is this conversion correct?
Thanks in advance.
Arthur
check out the market clock. Might make it easier to understand. It’s a bit confusing when you are running an ea as you have to use the server time.
Market 24h Clock - forex and stock market traders clock
Hello Arthur,
Welcome to the forum.
And congratulations on the tables you have constructed — they are 100% correct.
A couple of notes.
(You may be well aware of this information, but some other readers of this thread may not be.)
• The “so-called” opening and closing times of all local forex markets are [I]nominal times,[/I] based on normal business hours (assumed to be 08:00-17:00, local time) in each market.
The forex market does not actually open or close at those times. But, in each market, more than 80% of each day’s trading activity occurs in the 9-hour period from 08:00-17:00 (8 am - 5 pm), so it makes sense to designate each market’s forex trading day with those times.
That’s the basis for the times shown in the [I]Babypips School of Pipsology.[/I] But, not everyone in the world follows that 08:00-17:00 template — which explains some of the contradictions you have noticed in your research.
• The daylight-saving-time shift which occurs in Sydney is [I]opposite[/I] to the northern hemisphere shift in London and New York. That is, when London and New York are on Standard Time during northern hemisphere winter, Sydney is on daylight saving time during southern hemisphere summer. So, each spring and each fall, [I]a 2-hour shift occurs[/I] in the Belgium times for the Sydney market.
• Market times in Tokyo do not change [I]with respect to GMT[/I] throughout the year, because Japan does not observe daylight saving time. Tokyo market times do change [I]with respect to your time,[/I] as Belgium moves onto or off of daylight saving time (Summer Time, as it’s called in Europe, the U.K., and Ireland).
• Regarding the weekly opening and closing times: Those times are simply [I]17:00 New York time[/I] on Sunday (the “opening”) and on Friday (the “close”). That 17:00 New York time [I]changes with respect to GMT,[/I] as the U.S. goes onto or off of daylight saving time. But — except for brief transition periods in the spring and in the fall — that (17:00) time [I]does not change with respect to your time in Belgium,[/I] because Europe and the U.S. go onto and off of daylight saving time on [I]approximately[/I] the same dates in the spring and fall.
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