It’s a simple question but an important one when you’re planning your work at home life: do currencies trade on weekends?
The most straightforward answer is: no.
Of course, the precise time of market close depends on your location and time zone.
When do the markets close and when does the weekend start?
The Forex market is open 24 hours, but that time can be divided into 5 sessions, according to which location is most active at that time.
Sydney, Tokyo, Frankfurt, London, and New York.
Despite being open 24 hours per day on working days, the Foreign Exchange market does close on weekends.
So, what are the actual closing times?
Friday at 5pm (EST) and 10pm (GMT)
Forex begins trading again on:
Sundays at 5pm (EST) and 10pm (GMT)
At other times, Forex is open but it is just quiet. This is usually due to national holidays in key trading countries.
Sometimes it’s due to pending key financial or political announcements.
The low volume of people trading means greater volatility in the market. It’s best to stay away.
So, do currencies trade on weekends? No. And there are lots of reasons why that’s a great thing.
1. Traders have to take a break
Overtrading is a real danger – the weekend forces you to take a break and regroup.
2. A work at home business with boundaries is gold
Forgive the pun, but you know why it’s worth celebrating. Running your own business is all consuming. It’s a bottomless pit, and it’s difficult to take time off. The close of the market legitimizes taking a break. Every weekend. It keeps your business in it’s rightful place.
3. It gives you time to regroup
Trading Forex requires ongoing education and analysis, so the close of the market provides the ideal time to do some reading and thinking, without the pressure of a moving market.