Forex trading, also known as foreign exchange trading, is the process of buying and selling currencies with the aim of making a profit. It is a highly lucrative way of making money, and it is open to anyone who has an internet connection and a few hundred dollars to invest. However, before you can start trading, you need to know when the forex market opens for the year 2017.
The forex market is a 24-hour market that operates from Sunday evening to Friday evening. However, there are certain times when the market is more active, and this is when traders can make the most profit. The forex market is closed on December 31 and January 1, which means that forex trading for the year 2017 will begin on January 2.
This means that traders will have to wait until January 2 to start trading again after the holiday break. However, before you start trading, it is important to understand the factors that affect the forex market.
One of the most important factors that affect the forex market is the economic calendar. This is a schedule of economic events that are likely to impact the forex market. These events include central bank meetings, economic data releases, and political events.
For example, if the Federal Reserve in the United States announces that it will be raising interest rates, the US dollar is likely to strengthen against other currencies. Conversely, if there is political instability in a country, its currency is likely to weaken.
Another factor that affects the forex market is market sentiment. This refers to the overall feeling of traders about the market. If traders are optimistic about the market, they are more likely to buy currencies, which will cause the currencies to appreciate in value. Conversely, if traders are pessimistic, they are more likely to sell currencies, which will cause the currencies to depreciate in value.
It is important to note that forex trading is a high-risk activity. While it is possible to make a lot of money, it is also possible to lose a lot of money. It is therefore important to have a solid understanding of the forex market and to have a trading strategy in place.
One of the most important aspects of a trading strategy is risk management. This involves setting stop-loss orders, which are orders to sell a currency when it reaches a certain price. This helps to limit any potential losses.
In conclusion, forex trading for the year 2017 will begin on January 2. Before you start trading, it is important to understand the factors that affect the forex market, such as the economic calendar and market sentiment. It is also important to have a trading strategy in place, which includes risk management. With these in place, you can increase your chances of making a profit in the forex market.
