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Time to trade?

Discussion in 'Beginners Bootcamp' started by Ricex, Feb 7, 2010.

  1. Ricex

    Ricex Sergeant

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    As we all know the forex circus rolls along 24hr/24hr. When one market closes another will open and on we go until we come back to the beginning and start all over again.

    However within this 24hr merry-go-round there are times when we can find greater volume and therefore much more price action to work with due to two markets being open at the same time. When I say markets I mean Stock Exchange Markets. It pays to trade at these times and give the quieter trading hours a miss.

    Many strategies are in fact based around these market opening times, and several years ago I used to trade just the London open and by 12 'o' clock my day was finished.

    To help give you a reminder, I've posted below a simple graphic that shows the four main stockmarket trading times within a larger trading zone shown either side. The most important is the Asian close/European open and of course the European/American markets that are open at the same time.

    Here is the timetable for my time, GMT +1 (CET)

    Trading times CET.

    Here is the same graphic but with the times blanked out. If you think it could help please feel free to print it off and fill in the hours that suit your location on the planet.

    Trading times blank.

    There is also a quite nice desktop widget that Oanda have made for Yahoo! just adjust the timezone for where you are and you'll always know which market is about to open or close.

    FXMarketHours - Yahoo! Widgets
     
  2. Kreia

    Kreia Recruit

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    This is extremely useful. Thanks!
     
  3. RahmanSL

    RahmanSL Major

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    Hi Ricex,

    I read your posting yesterday and found the information most helpful.
    I meant to get your trades schedules printed out for easy reference and almost forget to do that until Kreia posted to thank you.
    I have also though that certain times of the day is much better for short trading or scalping when there are lots of market movements. Your trades time schedule help explain the reasons why.

    Thanks for these most helpful information yah!

    Cheers!
     
  4. Ricex

    Ricex Sergeant

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    Cool, glad you find it useful.
    Yes, if your into scalping then the time that you trade is very important, scalpers need volume in the market, things need to be moving, which is why scalpers like volatile currency pairs such as GBP/JPY.
     
  5. Eric Alyea

    Eric Alyea Master Sergeant

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    “Hit, S*it, and Git”.

    “Hit, S*it, and Git”.

    Despite what Pharaoh says I do not fish with hand grenades. I have some friends that have been known to take a few ducks (most of them learn this at Coronado, CA or Key West, FL) with a gunnysack and a Scuba tank (Diver Daves' CCR-1000 Page) though.
    In my industry it is know as “Hit, S*it, and Git”.
    Here the rule (game) is that you got to “Git” proof of your win (kill/what ever). That means "EXTRACTABLE MONEY” (scalps/pips) from your broker account.

    This is what I was trying to say in:
    Better writer, better teaching (Thanks Ricex)

    Timing is everything if you want to stay alive in the game.
     
    #5 Eric Alyea, Feb 9, 2010
    Last edited: Feb 9, 2010
  6. Eric Alyea

    Eric Alyea Master Sergeant

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    printed out and put on my new cork board

    Rice

    Your time to trade graph/chart is the 1st to be printed out and put on my new cork board.

    (Sub note: There is another program (unnamed for now) that I work with written by some genius (sometimes drunken) Russian programers. Is that why the GMT is + 1)?
    Thanks

    Eric
     
    #6 Eric Alyea, Feb 16, 2010
    Last edited: Feb 16, 2010
  7. Ricex

    Ricex Sergeant

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    Hey Eric, how's it going man?

    russians drunk? surely not..... Pei do dna! ;)

    If I've understood right your in Missouri which is GMT-6, I've made up a graphic for your time zone, let me know if I've got it wrong and I'll change it.

    Trading times blank.
     
  8. Eric Alyea

    Eric Alyea Master Sergeant

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    #8 Eric Alyea, Feb 17, 2010
    Last edited: Feb 17, 2010
  9. john04

    john04 Recruit

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    hi

    thanks for that informative thread,
     

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