Best Time to trade AUDUSD currency

[newtotrading]

Hi, I am just starting out & was going to concentrate on one pair. Being Australian I thought I would paper trade AUDUSD pair & was wondering where I could find out opening times + best time to trade eg early, middle or late in session.

Thank you.

Anne-Maree

 

[fxstrategist]

Take a look at the economic calendar at forexfactory.com, and the best time to trade the AUD is during Australian economic releases or US releases

 

[newtotrading]

Thank you. I have been watching the news on that calendar.

 

[iMusingKiMi]

Thank you. I have been watching the news on that calendar.

Never trade AUD on news release because Aussie news is always unpredictable. Never trade if the most correlated Kiwi wasn't same price movement. Never trade when it is moving opposite EUR/USD. Never trade if wasn't its own strength, this means it is the dollar strength or weakness. When dollar strength or weakness, the more profitable instruments to trade with is EUR/USD or USD/JPY because Euro held about 57% on dollar index.

U.S. Dollar Index - Wikipedia, the free encyclopedia

Learn about the correlation instruments to decide what is the most profitable currency to trade when wasn't its own strength.

 

[stephane]

Generally best time to trade for intrday/swing is the London session. New York is supposed to be a scalper's paradise, while Asian session is supposed to be a small range.

AUDUSD will react strongly to AUD news, given during the Asian session. But news trading is a specific form of forex trading that needs to be learnt.

I would say the best time to trade depends more upon your trading style and the part of the world you're living than the particular pair you want to trade.

 

[newtotrading]

Thank you to everyone. I really appreciate your time.

I think I will start with daily charts & practice practice practice.

 

[downtrend]

Generally best time to trade for intrday/swing is the London session. New York is supposed to be a scalper's paradise, while Asian session is supposed to be a small range.

AUDUSD will react strongly to AUD news, given during the Asian session. But news trading is a specific form of forex trading that needs to be learnt.

I would say the best time to trade depends more upon your trading style and the part of the world you're living than the particular pair you want to trade.

London session is the biggest session among all trading sessions, so trading any pair in this session is good. I'm a swing trader and trading on daily time frame, so I only see charts at new daily candle formation.

 

[dkami]

Hi, I am just starting out & was going to concentrate on one pair. Being Australian I thought I would paper trade AUDUSD pair & was wondering where I could find out opening times + best time to trade eg early, middle or late in session.

Thank you.

Anne-Maree

Welcome to FPA , For MT4 Right click AUDUSD chart and in the pop up box click on properties then in the properties pop up box click on common then tick the show period separators, this will give you your brokers opening and closing time for the day,week,month and year depending on the timeframe you have up on the chart

You can also get custom period separators for the different sessions( just google it and I'm sure you will find what you are looking for)

Best place to learn the basics on trading for free https://www.forexpeacearmy.com/fore...y-school-complete-forex-education-pro-banker/

I think you have the right idea trading one pair and starting on the D1 chart, I couldn't give you any better advise than that,You will be way out in front if you stick to this

If you use a D1 chart there is no best time to trade, price could be at your entry any time of the day or night so it's best to use limit orders or at the open of the new D1 candle manually. News will have far less impact on your trades as well as there is far less noise than say trading on a H1 timeframe, trading D1 timeframe takes much more patience with bigger SL but much bigger profits as well

One bit of advice trading AUDUSD on a D1 timeframe is the negative swap rate if you take a short trade, trading D1 can take weeks or even months to hit your TP and if you are short the negative swap can eat into your profits unless you are just planing to scalp a daily candle or something

 

[iMusingKiMi]

London session is the biggest session among all trading sessions, so trading any pair in this session is good. I'm a swing trader and trading on daily time frame, so I only see charts at new daily candle formation.

London session might be the best to trade EUR, Cable, USD, but not Aussie and Kiwi. Usually if Aussie and Kiwi moves at this hour, it will be on dollar strength. So it will be trading EUR/USD more profitable rather than Aussie and Kiwi. Indices and Oil is definitely not good to trade on morning London session because US open on 1500 hours London time.