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Best Trading Time

Discussion in 'General Forex Talk' started by emmajabah, Oct 29, 2008.

  1. iMusingKiMi

    iMusingKiMi Sergeant

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    I think most people can agree that but still, volatile meaning higher possibility on reversal. Even during breakout, it will be like riding a rodeo bull trying to shake you off with huge movement. Sometime near London closing hour also have some great opportunity to spots. Less noise and trend can be spotted much more obvious with less reversal occurs.
     
  2. iMusingKiMi

    iMusingKiMi Sergeant

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    It won't fit your lifestyle no matter what if you stay in Asia and wanted to trade currencies. You always have to rest late night and definitely will affect your health. Most of the time you will miss the morning sunshine. LoL.
     
  3. momo3HC

    momo3HC Private, 1st Class

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    Yes I agree with you. It`s not serious to target exactly X pips on every trade.
     
  4. Albert Dcosta

    Albert Dcosta Private, 1st Class

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    Exactly, we should not target exact pips but there must be a plan about making trades. We will only go for trades if we target some pips, but there must be a range of target and we should be content with what we get.
     
  5. Morning1234

    Morning1234 Private, 1st Class

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    It is your opinion. You do not have to follow the trend, you can trade against the trend. Or inside the channel. Also, small timeframes have their own trends and you can follow them. I know a person who takes 10 pips per trade. For the day he gets a profit of 100 pips. He always has the opportunity to open a deal, unlike me.
     
  6. iMusingKiMi

    iMusingKiMi Sergeant

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    In general, most people follow the trend and fully depends on each individual strategy. Of course someone have strategy to trade against the trend and it requires high level of skill and accuracy due to high risk with low return. Just like scalping, some people thought scalping are easy with few pips here and there but actually the lower time frame you are trading with, the higher skill requirement. Let's say someone sets 10 pips target profit on every trade, this means he doesn't have a lot of room to make any mistake. In simple maths, he needs at least 60% successful rate in long term just to break even.
     
  7. iMusingKiMi

    iMusingKiMi Sergeant

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    That's what I am trying to say. We don't need to target the exact pips but plan is a must as a checklist no matter what strategy you are trading with. Even in cross hedging or cash and carry, we still needs to know what minimum price of variance the market shows that can provide a profit. Otherwise, it is pointless to put in the trade if you can't even cover your own trading cost.
     
  8. Morning1234

    Morning1234 Private, 1st Class

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    I don't know how most people trade, to be honest. Maybe they follow the trend. Although it seemed to me that everyone is playing in the channels and losing money in the trend, trying to stand up against the trend. I only know different types of trading strategies, and I see the opportunity to take 20 pips or 10 pips profit. I know a person who gets 10 pips of profit per trade, and he has excellent results.
     
  9. Notati

    Notati Recruit

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    I think that every time is good time for trading if you have good trading strategy. You can choose your trading time and fit it into your life style. Certainly, we will all agree that nobody should be a slave of his own business, and so is with Forex. Keep your life in balance
     
  10. FXCassian

    FXCassian Recruit

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    I really second this analysis... It really depends on your strategy and what kind of volatility you want to work with. Do you want to take high risks and "ride the wave" of high volatility or do you want to be more cautious and conservative? What currencies do you want to trade? At what times are you available to trade ? Lots of different questions that will influence the answer :)

    If you want to check the market volatility levels at any time of the day, you can check this forex market hours tool. It will show you the opening hours of the 4 sessions and the trading volumes at any time of the day. Its advantage compared to many other tools out there is that it automatically adapts to your time zone (finally someone thought of doing it !). It's free, requires no registration and displays no ads.

    I hope it will help :)
     

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