Traders need to know the trading hours of various exchanges and the differences between different time zones.
For real-time traders, this is not a huge problem. They can check the trading hours of various exchanges through various Internet tools. However, for "night scalping" traders, the situation is different. They trade after the New York (stock) market closes and before the EU open market (stocks) opens. They need to know the trading hours of various exchanges, and the differences between different time zones.
The switch between summer time and winter time can also cause some troubles for traders. Daylight Time is one hour behind Standard Time. Winter time is one hour ahead of standard time. Different countries and regions adopt different times for summer time. For example, the European Union adopts summer time between March and October each year. The United States observes summer time between April and November each year.
Broker time can also create some headaches for traders. Different brokers use different server times. Some brokers use GMT time and some brokers use local time. Traders need to know the broker's time in order to time trades correctly.
To address these issues, traders can use a number of tools to help them manage their time. These tools include:
- Trading platform: The trading platform can display the trading hours of each exchange, as well as the differences between different time zones.
- Calendar software: Calendar software can show summer time and winter time transition times.
- Broker websites: Broker websites usually publish their server times.
There are also a few tricks traders can use to manage time:
- Before trading, confirm the trading hours of each exchange.
- Before trading, confirm the difference between different time zones.
- Before trading, check the broker's hours.
- When trading, pay attention to the change of time.
By managing time correctly, traders can increase their success in trading.