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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?
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 !!
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.
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.
Ja, but anyway there some days it moves good during Asian session, especially on some particular news, and also u could try to develop some way to trade during Asian time, I never explored it much.
P.s. I would take a look at 6J, that maybe is better for Asian time.
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 .
Asian hours are a dead spot for 6E. I've been mucking around with spreading 6E vs. TOCOM gold lately. I've been losing at it but am going into that spread again tonight.
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.
