What time exactly is the forex rate set?
Wednesday, January 29, 2014
, Posted by Ryanita at 7:59 AM
Mick
I am wondering what time does the trading on forex close so the ratios are know for the next day. Thanks
Answer
Forex is traded electronically in time zones all over the world, from Sunday 5pm to Friday 5pm New York time. There is no set spot price for a currency pair. It changes continuously. Banks and brokers can quote slightly different rates.
Forex is traded electronically in time zones all over the world, from Sunday 5pm to Friday 5pm New York time. There is no set spot price for a currency pair. It changes continuously. Banks and brokers can quote slightly different rates.
What does it mean to place an order inside the spread?
bboyballer
This is regarding the FOREX
Do you think FOREX is gambling?
Answer
Like any quote you can try and do better. Lets say a share price is quoted as 100-110 by a market maker. As you know he is obliged to make a quote in a certain size depending on the stock. There is nothing to stop you saying " I will buy 10000 at 106 (it is usually best to go somewhere just over the middle price)"
Maybe it will suit him and he will agree, or maybe counter with 107 (you could try 106.5, depends on the size of the bargain.
Same with currency. You will normally be quoted a bog standard price. So if you are trading a reasonably large number you put something to the dealer.
With smaller priced shares it is possible to get stock at or below the offer price (in size). This is why you shouldn't take too much notce of the red/blue colour of trades as it does not always mean sell or buy. If you want to learn more go to http://www.shareworld.co.uk and ask questions.
Like any quote you can try and do better. Lets say a share price is quoted as 100-110 by a market maker. As you know he is obliged to make a quote in a certain size depending on the stock. There is nothing to stop you saying " I will buy 10000 at 106 (it is usually best to go somewhere just over the middle price)"
Maybe it will suit him and he will agree, or maybe counter with 107 (you could try 106.5, depends on the size of the bargain.
Same with currency. You will normally be quoted a bog standard price. So if you are trading a reasonably large number you put something to the dealer.
With smaller priced shares it is possible to get stock at or below the offer price (in size). This is why you shouldn't take too much notce of the red/blue colour of trades as it does not always mean sell or buy. If you want to learn more go to http://www.shareworld.co.uk and ask questions.
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