The Trade Machine Blog » What Is Forex http://thetrademachine.com/blog Forex Trading Software, Expert Advisors Wed, 06 Jan 2010 16:36:15 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Forex Demo Account http://thetrademachine.com/blog/2009/10/05/forex-demo-account/ http://thetrademachine.com/blog/2009/10/05/forex-demo-account/#comments Mon, 05 Oct 2009 15:43:06 +0000 admin http://thetrademachine.com/blog/?p=346 Are you new to forex? If so, you should open a demo account and start familiarizing yourself with how things work. Here’s how:

 

Step 1: Metatrader 4 Client Terminal – Download the free and widely used Metatrader trading platform from Metaquotes. Download Page

 

Step 2: Open a Demo Account – When you launch Metatrader, you will be asked to open a free demo account. Fill out the form and click finish.

Step 3: Try It Out – Place some trades to start getting to know Metatrader. Try running an Expert Advisor from the menu on the left. An expert advisor is a program that automatically trades for you based on a set of rules. Make sure you enable expert advisors with the button on the top.

Step 4: Continue Reading - Check out some more of our articles to continue learning about how to use Metatrader.

]]> http://thetrademachine.com/blog/2009/10/05/forex-demo-account/feed/ 0 What is GMT? http://thetrademachine.com/blog/2009/09/28/what-is-gmt/ http://thetrademachine.com/blog/2009/09/28/what-is-gmt/#comments Mon, 28 Sep 2009 19:20:04 +0000 admin http://thetrademachine.com/blog/?p=73 Greenwich Mean Time (GMT) is a term originally referring to mean solar time at the Royal Observatory in Greenwich, London. It is commonly used in practice to refer to Coordinated Universal Time (UTC).

 


What does this mean in the forex market?
GMT provides a standard of time for the world when trading the forex market. GMT time does not change for daylight savings time. However, it is important to note that when clocks are pushed forward an hour in the spring, the market opening times change in terms of GMT.

 

For instance, the New York market opens at 8am Eastern Time (EST) year round. However, throughout the winter months, the New York market opens at 13:00 GMT time. When daylight savings time occurs in the spring, the New York market open changes to 12:00 GMT. (Note: GMT always stays the same. It is the market opening hours that are changing due to daylight savings.)

 

The following chart shows the forex market hours in eastern time (EST) and GMT.

 
Forex Market Hours
Time Zone
EST
GMT
Tokyo Open
7PM
0:00
Tokyo Close
4AM
9:00
London Open
3AM
8:00
London Close
12PM
17:00
U.S. Open (New York)
8AM
13:00
U.S. Close (New York)
5PM
22:00
]]> http://thetrademachine.com/blog/2009/09/28/what-is-gmt/feed/ 0 When Do Forex Market Sessions Overlap? http://thetrademachine.com/blog/2009/09/28/when-do-forex-market-sessions-overlap/ http://thetrademachine.com/blog/2009/09/28/when-do-forex-market-sessions-overlap/#comments Mon, 28 Sep 2009 18:45:23 +0000 admin http://thetrademachine.com/blog/?p=68 New York and London: 8:00 am – 12:00 noon EST
Sydney and Tokyo: 7:00 pm – 2:00 am EST
London and Tokyo: 3:00 am – 4:00am EST

 

Trading when market sessions overlap provides higher volume and volatility.

 

For example, trading EUR/USD, GBP/USD currency pairs would give good results between 8:00 am and 12:00 noon EST when two markets for those currencies are active.

]]> http://thetrademachine.com/blog/2009/09/28/when-do-forex-market-sessions-overlap/feed/ 0 What Is Forex: Introduction to the Forex Market http://thetrademachine.com/blog/2009/09/25/what-is-forex-introduction-to-the-forex-market/ http://thetrademachine.com/blog/2009/09/25/what-is-forex-introduction-to-the-forex-market/#comments Fri, 25 Sep 2009 18:39:09 +0000 admin http://thetrademachine.com/blog/?p=10 Forex or FX is short for the Foreign Exchange Currency Market – an over the counter (decentralized) market where all world currencies are traded.
 
Unique Features Of Forex The forex market is the largest, most liquid market in the world with an average traded volume that exceeds $3.9 trillion per day and is open 24 hours a day except on weekends. Unlike other markets, the forex market allows for the use of high leverage. Because of these factors, the forex market is considered to be the market that is closest to being perfectly competitive.]]> Forex or FX is short for the Foreign Exchange Currency Market – an over the counter (decentralized) market where all world currencies are traded.

 

Unique Features Of Forex
The forex market is the largest, most liquid market in the world with an average traded volume that exceeds $3.9 trillion per day and is open 24 hours a day except on weekends.  Unlike other markets, the forex market allows for the use of high leverage.  Because of these factors, the forex market is considered to be the market that is closest to being perfectly competitive.

 

Who Trades The Forex Market?
Until recently, forex trading in the currency market had been the domain of large financial institutions, corporations, central banks, hedge funds and extremely wealthy individuals. The emergence of the internet has changed all of this, and now it is possible for average investors to buy and sell currencies easily with the click of a mouse through online brokerage accounts.

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