FX exchange trading times

Just getting aquainted with FX trading. Based on NZ time can anyone advise when we can trade NZ$ vs US$

There is no central exchange for Forex. You can trade whenever your platform provider is open for business.
Mine is Aussie based but trades between 10am Monday morning to 10am Saturday morning NZ time

Thanks. Will look at what CMC operate in NZ.

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Originally Posted by moolooman

Just getting aquainted with FX trading. Based on NZ time can anyone advise when we can trade NZ$ vs US$

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Welcome to the forum

You can trade NZD.USD 24hrs except for weekends.

All brokers have slight variations in their opening times after the weekend (and conditions).

If you check with them, or test their demo's you will get an idea of which one will suit your requirements.

Oanda for example is one of the few platform where you can close a trade out of hours at the weekend, although the spread willl be wide. Most MT brokers do not have that facility, and you are stuck in the trade until Monday opening at which time it is possible to get a gap open which might jump over your stop.

I dont personally recommend CMC, - their platform is power hungry and they never answer my e-mails. There is a thread on the ASX forum discussing CMC.

I am personally with Oanda and have another smaller account with GO (Australia).

arco

Thanks. Yes I've been following the thread on CMC for a while now. I'm usually a reader of the forums & not so much of a contributor. They do seem hit & miss but so far so good. I've been using their demo with $5k of play money. I must say, trading FX based on intraday min. data with MACD on as a guide has produced so pretty good returns in very short time. I can't help but feel those that go on about having lost a bundle probably don't use TA and are just having a stab in the dark. While some knowledge can be a dangerous thing (but necessary) , no knowledge is a gamble in this game.

Lol, and then you will find out that "play money" and REAL money are two totally different things :-)
Also, just when you think you're good with your TA, you will get hammered, and you will be at a loss as to why.
Most traders blow their first go at Forex, good luck, you will learn alot about yourself.

That was a very 'outspoken' comment :rolleyes:

Moolooman, - test you theories well on the demo, and go slowly on the real account until you get adept.

Hoping you will become one of the hallowed 5%

arco