Hi, new to this forum and forex in general, so sorry for what may sound like a silly question.
What i would like to know is how does trading in different sessions / time zones work?
I am based in London and would like to stick to trading GBP/USD for example, but say i wanted to trade when Tokyo session opens or when new york is online. Is this possible? How is that done? Do i still use the broker / trading platform from here in the uk? is my trade executed somewhere else? Wil my profile / loss be settled back in GBP as i am based in london?
There’s no practical difference between opening a trade in our daytime to our night-time. You will probably find the spreads are wider as volumes traded outside the London and New York session hours are thin. In fact they’re so thin that many day-traders avoid the Asian session as its so hard to find any decent price movements to make the time worthwhile.
Thanks for your response. So in reality (not that it’s recommended as you indicate), i could trade from London (handle profile / loss in GBP) with the same trading platform / broker but according to Asia time zone for example - it’s just that the spreads, volume etc would be different when compared to if i was trading according to London time zone / session?
Yes. You would notice no difference in charts, platform features or anything else.
Its possible your broker might suspend trading for a period of minutes around the time when NY closes - mine does this, I can’t recall why, maybe others don’t - and during that period you should still be able to use their charts, place and adjust orders, but you wouldn’t be able to open or close trades: the broker would not execute orders during those periods either.
Well, you can use any suitable trading session according to your wish! But try to use all the sessions & then judge your trading result based on diffident sessions!