Quote from 4xxxx:
In all honesty, you should not be trading FX during the weekends. If you think there is any edge gained by doing this, then you should really do more research and educate yourself. There are literally no prices trading on the bank side which is where your prices are eventually derived from. If you haven't captured the move during the trading week then give it a rest for the weekend. There is really no market! Having worked in the interbank side for years, anyone who wanted a deal after hours ( read after 4 pm Friday) better had be special and even then , they were going to pay through the nose. ( Justifiably so in my opinion as there is was too much risk and little if any liquidity) After 4 p.m. CST on Friday, the markets are for all intensive purposes closed. Period. The open is noon or 1pm CST Sunday afternoon . I can't recall the "official interbank open" ( this changes in the summer when we and/or "down under" change their clocks. ) but I think it is noon now. On the rare occasion when there is a bombing, G7 meeting, or any other curve ball, then there may be some trading a little earlier. This is a exception though. Some banks dont even honor trades before the officail New Zealand open if the prices arent justified. There is little sujbectivity here and I have only seen cash prices busted or not honored on one occasion on a Sunday in over 15 years. Many FX platform's sync / coincide tjheir opens with the IMM open at 5pm CST these days.
Bottom line, any prices you are able to " deal" on during the weekends are not real prices so I guarantee any system that demonstrates an "edge" during the weekend will fail.
