jacknapier
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Like, between 2am and 8am. I'm on the East Coast of the USA. Any particular reason for this? The only supposition I have is that London is the financial center of the world.
big moves happen at night
- Thread starter jacknapier
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M
malaguti
well if you were trading ftse right now, you'd have gapped up, consolidated, gapped down, consolidated, gapped up...etc etc so it seems like we're both getting screwed
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cablemonster
you are correct. For forex at least the 8am - 1pm London morning session is the session that dominates in terms of volume and volatility. The 1pm - 6pm London session has a different feel to it. I have no experience of trading the Loonie CAD but I would suspect this pair would put in it's major moves during the US session.
The US rules the roost when it comes to equity trading volumes so I think if I was based in the US I would probably choose a US equity indices instrument to trade, either that or become nocturnal and trade the London open lol.
The US is one ****y place to live if you want to trade FX. Not such a ****ty place to live though if you don't
No, the world doesn't resolve around London. It's only that way because of a) the UK's/Europe's long history of commerce over the past 500 years, and b) Timezone, so it can pick up closing Asian business as well as opening to lunchtime US busines.
London also 'closes' at 5pm sharp, ie 90% of the FX desks have gone home. Volume is light after that time as virtually no big corporate business is caried out. An example, if you're Wallmart, BP, Coke, Toyota or Nestle all your big hedging business is done on European time.
No, the world doesn't resolve around London. It's only that way because of a) the UK's/Europe's long history of commerce over the past 500 years, and b) Timezone, so it can pick up closing Asian business as well as opening to lunchtime US busines.
London also 'closes' at 5pm sharp, ie 90% of the FX desks have gone home. Volume is light after that time as virtually no big corporate business is caried out. An example, if you're Wallmart, BP, Coke, Toyota or Nestle all your big hedging business is done on European time.
Actually, it does revolve around London for all the reasons you state, but which you curiously and quite inexplicably negate.
