City (spot forex) traders

[JTrader]

Hi

This questions may sound random but -
i'm just wondering if the big gun traders and market makers working for interbanks or other institutions (i.e. the traders that are actually creating and moving the spreads that we trade via a round about process through spreadbet co.'s or retail forex dealers) tend to have breaks and lunch hours where they leave their desk, or would they likely have lunch at their desk and continue working throughout their day?

I know that if there's news at 1330 GMT, popping out to Pizza Hut for lunch may prove tricky, but on days when there are no UK lunchtime news releases, this may be possible.......

The reason I ask is because EURUSD can be a lot more stagnant during the UK lunch-time hours and I thought that this may be due to the big institutional traders and market makers being elsewhere.

Mainly I'm thinking about in London, Europe and New York.

Thanks.

 

[Priceman]

I would say that these types of companys have teams jtrader that take shifts for breaks... that's my thinking but I really know very little about these businesses

 

[Directional]

yes, and an algorithm never sleeps, craps or pops out for lunch

 

[JTrader]

yes, and an algorithm never sleeps, craps or pops out for lunch

Hi Arb

are you implying that many institutional forex traders are in fact computer programs, rather than people?

 

[Directional]

I dont know for sure, and there are plenty of institutional "people" traders still around, but all the big banks are pushing for algorithm deployment in all markets, for cost, consistency and speed reasons, as well as quantatively analyseable results which can be modelled and modified to meet the banks adapting needs etc.

I have a recent article from FOW about algorithms, i'll scan it and post it on the site when I get time, maybe later this week.

 

[JTrader]

Thanks GJ

what are your daily trading hours - 0800 - 1600?

What daily trading hours are typical for a spot desk trader?

Thanks

 

[Depth Trade]

Hi

This questions may sound random but -
i'm just wondering if the big gun traders and market makers working for interbanks or other institutions (i.e. the traders that are actually creating and moving the spreads that we trade via a round about process through spreadbet co.'s or retail forex dealers) tend to have breaks and lunch hours where they leave their desk, or would they likely have lunch at their desk and continue working throughout their day?

I know that if there's news at 1330 GMT, popping out to Pizza Hut for lunch may prove tricky, but on days when there are no UK lunchtime news releases, this may be possible.......

The reason I ask is because EURUSD can be a lot more stagnant during the UK lunch-time hours and I thought that this may be due to the big institutional traders and market makers being elsewhere.

Mainly I'm thinking about in London, Europe and New York.

Thanks.

Jtrader, I thought this attachment might be relevent to your original question. It shows amount of conversations per hour, which I assume means the more conversations there is, the more transactions there is.

Dt

 

[JTrader]

Thanks DT

Although 1992-93 data might be a bit outdated now..............the chart does show a morning peak, a lunch-time lull, and an early afternoon peak, which may still be pretty accurate.


what is the definition of an "electronic conversation" though? This can't mean a change of + or - 1-tick/pip in bid price on a chart can it? (as 45000 per hour sounds a few too many!)

Cheers.

 

[ebob]

shifts

i cover 7am till 5-6pm, whichboverlaps with my us colleagues who then manage till aussie/japanese traders come in, glorified shift work

pain in the **** day today, had to close out a position in currenex after opening in hotspot, means i have my exposure buggered for 2 days. c'est la vie.

Thanks GJ

what are your daily trading hours - 0800 - 1600?

What daily trading hours are typical for a spot desk trader?

Thanks