Trading Sessions
Overview
A trading session refers to a specific period of time during which financial markets are open for trading. It is the designated timeframe in which market participants can buy and sell financial instruments such as stocks, bonds, commodities, currencies, and derivatives.
Trading sessions are determined by the operating hours of the particular financial market or exchange where the trading takes place. Each market or exchange may have its own trading session schedule, which can vary based on factors such as the geographical location, local regulations, and the type of financial instruments being traded.
Common trading sessions include:
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Pre-open session: This is an optional session that occurs before the official market open. It allows traders to place orders and react to news or events that have occurred outside regular trading hours.
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Regular trading session: This is the main trading session where the majority of trading activity takes place. It is typically characterized by higher trading volumes and increased market liquidity. The regular trading session usually has specific opening and closing times.
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After-hours session: Also known as extended-hours trading, this session occurs after the regular trading session has ended. It allows traders to continue trading outside normal market hours. However, trading volumes during after-hours sessions are generally lower, and prices can be more volatile due to reduced liquidity.
The trading session structure can vary across different markets and asset classes. For example, the stock market may have specific hours of operation, while the forex market operates continuously 24 hours a day, five days a week, across different time zones.
It is important for traders to be aware of the trading session hours and understand the impact of different sessions on market dynamics, liquidity, and trading opportunities.
Supported Trading Sessions
CryptoCortex supports the following phases of trading sessions:
No Trading -> Pre-Open -> Start -> End
No Trading
During No Trading, all trading is disabled. The Order Form does not allow sending orders in this phase.
Pre-Open
In the Pre-Open phase, orders can be submitted with defined limitations; orders submitted during this phase, are pending and get executed or cancelled once the trading session is in the Open (Start-End) phase.
Pre-Open Trading Session Limitations in Order Form:
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Supported order types: limit
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Supported Time in Forces: GTD, GTC.
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Default Time in Force: GTC.
Orders submitted during a pre-open phase are labeled accordingly and are either processed of cancelled when the trading session starts: