Usually, „ a market clock / clocks” are associated with series of wall clocks each showing local time so you know what time certain market / stock exchange opens. As trading goes on 24h, we have to keep in mind a lot of information: when do markets open and close in relation to each other, what time does it happen, public holidays etc.
Here is a variety of fx / Market Clocks informing about trading sessions and market hours I’ve found on the internet:
- http://www.forex4noobs.com/forex-tools/forex-clock/ - a chart, opening/closing times, basic info on markets
- http://forex-clock.atwebpages.com/ - a chart, opening/closing times, basic info on markets
- http://www.marketclocks.com/ - an interactive map, you can see markets by region clicking the map, opening/closing times, basic info on markets
- http://www.2013.worldmarkethours.com/Stock/index.htm a chart, opening/closing times, basic info on markets
- http://fxtrade.oanda.com/analysis/market-hours a graph, currently open markets, shows closing time on mouserollover
- http://mc24.ch/ 24h Maket Clock with activity of major markets on 1 dial – you can see the whole 24h at once, online clock and a gadget
Why do we need market clocks, or at least why newbies do:
(the text below is based on my favourite book “Day trading the Currency market” by Kathy Lien)
Trading volume and volatility change for different currency pairs depending on the movement of the clock hands. You can trade more effectively, if you know which currency pairs are in the spotlight at any given time. Timing plays big role in currency trading.
Since currency market works around-the-clock, trader is able to watch every market movement attentively and to respond to it in time. In order to develop a successful trading strategy, it is necessary to take into account changes in the market activity for various currency pairs in different time periods.
In addition, liquidity of currency pairs changes with geographical location and macroeconomic factors. Knowing what time of day that or another currency pair has the largest and most narrow trading range, you are able to improve your abilities in capital allocation.
This chart presents data on the average range in pips for the different currency pairs in different time periods: