The Forex Market Chart

There are different chart formats and these can be available, provided by your brokers. These are

• Line chart,
• Bar chart, and 
• Candlestick chart. 

Out of the 3 charts, Candlestick chart is widely used throughout the world. 

Normally these charts would at least (or only, for line chart) show the closing price of the currency pair you are trading. However your broker's platform might enable you to view the chart based on other factors, such as the opening price, average price, and etc.

Forex Market Hours

The Forex Market operates 24 hours, but not throughout the week. 

It opens from Sunday evening - Friday afternoon EST 

There are 4 different sessions during the market opening, and these are; 

Tokyo

GMT 0.00 - GMT 9.00

London

GMT 7.00 - GMT 16.00

New York

GMT 12.00 - GMT 21.00

Sydney

GMT 21.00 - GMT 6.00

These timings are the market opening and closing during non-Daylight Saving period, between March - November. The exact dates will depend according to the country you reside in. 

Before I Started Forex Trading

I entered live in forex trading on 18 December 2008. Before I decided to enter live, there are a number of things which I had done.

Entered Live: Trading with Capital Invested (real money)

Step 1: know what exactly is forex. The information can be found through searches on the internet. There are even free online tutorials to guide the greenhorns.

Step 2: try out demo trading. Almost every good broker provides a demo trade, whereby you can have a taste of trading using virtual money. Also all the quotes in demo trading are given per real-time quotes by the broker.

Step 3: hit on the forex forums. There are experienced traders who are sharing their trading system on the forums, search these systems, find the one which suits your style and able to help you gain from the demo trades.

Step 4: before you enter live in forex trading, determine and only invest the amount of money that you are willing to lose. Understand how your broker works, from demo trading in step 2 and read every info that may concern you as an account holder on the broker's website.

For the next few posts, I will be focusing on details for each step, and how I had completed them.