TPO and forex | Traders Hideout - futures trading strategies, market news, trading charts and platforms

Traders Hideout

Discuss day trading practices and futures trading strategies on this forum for all markets. This forum is also for discussing and reviews for brokers, data feeds, and commercial or third party add-ons


TPO and forex

  #11 (permalink)

Reading UK
Trading Experience: None
Platform: Custom
Broker/Data: Interactive Brokers
Favorite Futures: My 3 boys
Grantx's Avatar
Posts: 1,632 since Oct 2016
Thanks: 2,268 given, 4,307 received

josh View Post
The first markets in Australia open around 5pm Eastern US time on Sunday after a 48-hour break. All markets close by EOD Friday in the US, also around 5pm. So, the most logical "day" is roughly 5pm to 5pm Eastern US, 24 hours. That makes 5 actual days. This is roughly in line with the GLOBEX day for most products. Any other time leads to more than 5 "days," and if you tally the hours, the forex market is open for 5 out of 7 days.

Great answer thanks @josh that helps. So when the US session closes at 5pm , whatever price it closes at is the settlement price aka rollover in the forex world? Settlement seems to be a factor in the futures market so I presume it has influence in other market as well.

Visit my futures io Trade Journal Reply With Quote