Banks are major players of forex trading because a major portion of forex market’s turnover is from banks. Forex trading has managed to attract a huge number of people and they are investing in forex. In forex trading we exchange currencies and earn profit on them. Forex market exists due to global trade and highly global market place as we import/export goods from all over the world and then pays for these goods which obviously are in different currencies so without even knowing we are trading in forex.
Forex market is unique because of its 24-hour availability and liquidity, meaning that it can be turned back to money fast. Experts usually discourage traders to trade on bank holidays as when banks will be closed there will be little or no liquidity. Saturday and Sundays are off but it is recommended that you don’t trade from Friday midnight. Very few people trade during holidays because market changes swiftly and before you even know and react to do something it’s already late. Bank holidays especially, make a huge impact on forex trading because when banks will be closed during holidays then there is too less chances for accomplishment.
Analysis is a critical part of forex trading, before trading you should analyze different circumstances i.e. economical, political etc. but people often forget to consider bank holidays which sometimes a major cause of their loss. Forex market is made up of central banks, commercial companies, hedge funds, management firms, retail forex broker, and investors around the world; so it’s best to trade when market is most active and have biggest volume of trades.
Forex market is open every day of the year but mostly banks are not, so they would not have full services and benefits. Mostly brokers are also not available on holidays. Volume tends to be thin during bank holidays especially America and Canada banks.
On ProfitF you can search online for all the Forex bank holidays. But the problem is that forex is worldwide so you need to be aware of the world’s happenings. To keep an eye on all the latest happenings before you make a trade is not an easy task but surely it is important if you want to make profits. It’s better to bookmark or save the bank holidays page as it will be easy for you to consider before starting to trade. The first hour after a major market opens is considered very important because with this we can guess the future sessions either if you are a beginner or professional, one thing you should understand that holidays are there for relaxation so you must take a break from trading.
It’s really important that you have bank holidays charts and have read it thoroughly before starting any trade as otherwise it will be like throwing money in a deep well.