Hi everyone, this is my first post.
I have been trading the ES and NQ live for about 8 months, and SIM trading the 6E/6J for 3 months. I would love to trade full-time, but at this point I'm not profitable consistantly and now need to work full-time, so I would like to find out from fellow traders what is the best time to trade the 6E/6J?
I live in Toronto Canada and work from 9am-5pm, and want to ask, outside of my work hours what is the best times to trade the 6E/6J?
The following user says Thank You to camsolution for this post:
For the Euro, its easy .. . go to sleep at 8 PM and wake up at 2 or 3 in the early morning , trade the Euro for 3 hours - - - take 2 hour nap before going to work.. . and your trading day is done,,.. nice and easy - - aye !!
The following 3 users say Thank You to Biggz for this post:
Asia does have a lot of chop, but I've found it to be pretty predicatble and there is usually at least one good move at the beginning. If you don't want to get up at 2:00, I would sim it from 7:00 - 8:30 and see how you do. Just try to get 10 pips, which is really all you need, and quit.
The following 2 users say Thank You to vegasfoster for this post:
6E is my main trading instrument, I trade it mainly during London and first hours of NY session. On the Asian Session is not simple know when it wants move and you mostly can incur in a long trade before getting some ticks.
Take your Pips, go out and Live.
The following user says Thank You to LukeGeniol for this post:
It pays to know a bit about the underlying currency . The yen euro and usd all are impacted by news events and move when 2 markets overlap . Check this and the news calendar to save some grief and be around when liquidity is present .
A side note to my previous question.
When I take a look at the 6E volume its no where near the ES or even the NQ. I know for liquidity getting in and out of trades you want more volume. I've been stopped out of trades to the pip, to just to see it turn around and go in my direction, and I know a lot of others have seen the exact same senario more than once.
What I'm wondering, are the market makers (who know where the majority of our stops are waiting) manipulate the market to where that big pile of stops are waiting, to cash in off us.
Having a smaller account size we(beginners) try to keep tighter stops and get stopped out more frequently, where traders with bigger accounts and bigger stops stay in those trades and profit where we get stopped out.