Forex: When to trade - Currency Futures | futures io social day trading
futures io futures trading


Forex: When to trade
Updated: Views / Replies:3,651 / 20
Created: by KL01 Attachments:2

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 2  
 
Thread Tools Search this Thread
 

Forex: When to trade

  #11 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received


cgleckman View Post
Do you forex traders have times of day that you just don't trade?

I have a automated system and found that the best time to trade is between 3am and 11am New York time. The signals are more consistent.

Between 11 and 5 NY time is ok but volume drops off around 2. I think this is the best time for new traders.

The worst time to trade is between 5pm and midnight. Not enough volume. Price action does not occur as it should.

I have never had any luck between midnight and 3am, so I just stay away.

Reply With Quote
The following user says Thank You to Silver Dragon for this post:
 
  #12 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,602 received
Forum Reputation: Legendary


Silver Dragon View Post
I have a automated system and found that the best time to trade is between 3am and 11am New York time. The signals are more consistent.

Between 11 and 5 NY time is ok but volume drops off around 2. I think this is the best time for new traders.

The worst time to trade is between 5pm and midnight. Not enough volume. Price action does not occur as it should.

I have never had any luck between midnight and 3am, so I just stay away.


This is basically the European Session. Translate that to 8:00 AM GMT - 4:00 PM GMT and you get the London session with the London / New York overlap included. This is a good time to trade EURUSD and GBPUSD.

Last week and this week the time difference between London and New York wass only 4 hours, so the times should be 4:00 AM EST to 12:00 AM EST.

Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:
 
  #13 (permalink)
Breathe the body deep.
California
 
Futures Experience: Intermediate
Platform: FxTrade/Ninjatrader
Broker/Data: Oanda/MBT
Favorite Futures: Eur/Usd
 
Trankuility's Avatar
 
Posts: 269 since Jan 2011
Thanks: 54 given, 151 received



KL01 View Post
Or not to trade.

As a newbie, I get lots of advice from my online trading pals. One of the biggest topics seems to be when NOT to trade. That Forex is a 24-hour market seems not to matter. Somebody always wants me to get up earlier, stay up later, or avoid 400 different reversal times throughout the trading day.

A new suggestion is that no trading should take place between 22:00 GMT to 0:700 GMT (basically that's no trading from the open of Australia to the opening of London). I confess to not entirely understanding his thought process. I think this guy is probably a genius, and that combined with a language barrier and the limitations of the chat process, leaves me a bit confused sometimes.

Now I'm asking this group two questions:

Do you forex traders have times of day that you just don't trade?
And what do you think of not trading the Australia and Asia sessions?

Thanks for your time
KL

I think the timeframe you should trade depends entirely on your trading style. If you prefer to fade, then you probably should think about trading the slow hours of Asian, since it ranges a lot. I like to trade continuations and breakouts so I trade the first hours of NY open. And love news days. For my style, I prefer explosive movements, hence the opening hours and news releases.

As for your questions, "Do you forex traders have times of day that you just don't trade?
And what do you think of not trading the Australia and Asia sessions?"

I only trade 5am - 7:30am PST and once in a while the first two hours of Asian open. I would trade the Euro open but it's too late. Other than those, I won't trade any other time.

Choosing not to trade Australia or Asia is again, dependent on your style and personality.

Reply With Quote
 
  #14 (permalink)
Elite Member
California
 
Futures Experience: Beginner
Platform: MT4
Favorite Futures: Forex
 
Posts: 85 since Feb 2011
Thanks: 49 given, 153 received


Trankuility View Post
I think the timeframe you should trade depends entirely on your trading style. If you prefer to fade, then you probably should think about trading the slow hours of Asian, since it ranges a lot. I like to trade continuations and breakouts so I trade the first hours of NY open. And love news days. For my style, I prefer explosive movements, hence the opening hours and news releases.

As for your questions, "Do you forex traders have times of day that you just don't trade?
And what do you think of not trading the Australia and Asia sessions?"

I only trade 5am - 7:30am PST and once in a while the first two hours of Asian open. I would trade the Euro open but it's too late. Other than those, I won't trade any other time.

Choosing not to trade Australia or Asia is again, dependent on your style and personality.

Wow, a news release trader. Are you a daredevil in the rest of your life?
Thanks,
K

Reply With Quote
 
  #15 (permalink)
Breathe the body deep.
California
 
Futures Experience: Intermediate
Platform: FxTrade/Ninjatrader
Broker/Data: Oanda/MBT
Favorite Futures: Eur/Usd
 
Trankuility's Avatar
 
Posts: 269 since Jan 2011
Thanks: 54 given, 151 received

Hah. I'm not completely crazy. I do wait a couple of minutes after news is released before entering a trade.

Reply With Quote
 
  #16 (permalink)
Elite Member
Boston, MA
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB
Favorite Futures: EUR/USD
 
Posts: 42 since Apr 2010
Thanks: 1 given, 3 received

I guess like all answers, it depends. I've been trading an algo on the EURUSD for some time now and have done extensive backtests. What it really comes down to is the liquidity in the marketplace. The more volume, the tighter the spreads and the more fluid the movements. For the EURUSD, the system I have trades two times, 3AM to 6AM ET and 8AM to 12PM ET. I'm all about managing risk and risk seems easier to manage during these times.

Reply With Quote
The following 2 users say Thank You to togier for this post:
 
  #17 (permalink)
 Vendor: www.coroin.com 
Galveston ,TX
 
Futures Experience: Intermediate
Platform: NT7
Broker/Data: Zaner
Favorite Futures: Futures
 
Posts: 386 since Mar 2010
Thanks: 364 given, 433 received

good question that started this thread ... something i have pondered myself.

when it comes to forex, the problem i have found in identifying best volume/liquidity has to do with the data that comes from many forex brokers/dealers. volume doesn't always mean volume, but can instead simply mean ticks. furthermore, you're likely only be seeing your broker/dealer's volume (or ticks) not the entire market (since there is no singular exchange for each forex pair).

i have noticed that the overlap between london and new york has good liquidity for EURUSD and GBPUSD. if you like the early times, you could check out EURJPY during the overlap between asia and london (generally the 3-4 hours preceding new york open).

like others said -- identify a good market time to trade may depend on your style/setup (scalp vs swing, etc.). if you're looking for bigger moves, those can sometimes happen after-hours; whereas, if you're looking to scalp out a few pips here and there, you may prefer the heavy volume of the asian-london overlap or the london-new york overlap.

cheers,
-e

Reply With Quote
The following user says Thank You to eman for this post:
 
  #18 (permalink)
Elite Member
Montreal, Canada
 
Futures Experience: Intermediate
Platform: Multicharts
Broker/Data: Interactive Broker
Favorite Futures: Forex
 
Posts: 262 since Sep 2010
Thanks: 436 given, 86 received


KL01 View Post
Or not to trade.

As a newbie, I get lots of advice from my online trading pals. One of the biggest topics seems to be when NOT to trade. That Forex is a 24-hour market seems not to matter. Somebody always wants me to get up earlier, stay up later, or avoid 400 different reversal times throughout the trading day.

A new suggestion is that no trading should take place between 22:00 GMT to 0:700 GMT (basically that's no trading from the open of Australia to the opening of London). I confess to not entirely understanding his thought process. I think this guy is probably a genius, and that combined with a language barrier and the limitations of the chat process, leaves me a bit confused sometimes.

Now I'm asking this group two questions:

Do you forex traders have times of day that you just don't trade?
And what do you think of not trading the Australia and Asia sessions?

Thanks for your time
KL


A picture worth a thousands words

You don't want to be in the market, or, at least, don't use the same rules, between 2 pm and 8 pm eastern time ( New-York). The big players have finished their day. Only remain is the little "guppy" like us. We don't drive the market, they do.

Our business is to grab a portion of the fluctuation. No volatility, no business. Also, these periods tend to produce a lot mores of false entries.

Best way to see for your own time frame, Take a complete week on lower scale and determine where is the fluctuation. Step back and look at your display with 500 to 1000 bars or more on your screen .

The 24h market is a lure for the shark to grab some of our money while they rest. They know how to play with us. We have to play with them. Not being their prays, but be a little fish that clean the tooth of a big sharks.

If we could follow their steps, we will be able to eat, If we play where they want us to play, well, we will be eated.


Martin

Attached Thumbnails
Forex: When to trade-whennottotrade.jpg  
Reply With Quote
The following 2 users say Thank You to arjfca for this post:
 
  #19 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,602 received
Forum Reputation: Legendary


arjfca View Post
A picture worth a thousands words. You don't want to be in the market, or, at least, don't use the same rules, between 2 pm and 8 pm eastern time ( New-York). The big players have finished their day.
Martin

I agree with this. However, you can watch, and you will see two bullish signs:

-> the pivot PP was tested, price was rejected

-> the high of the prior day was tested and then taken out

Both are bullish signs, so after that dead period, you may have put on a long position in the EURUSD.

Attached Thumbnails
Forex: When to trade-eurusd-13-min-06_04_2011.jpg  
Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:
 
  #20 (permalink)
Trading Apprentice
Los Angeles, California
 
Futures Experience: None
Platform: Ninja Trader
Favorite Futures: oil, gold
 
Posts: 34 since Mar 2011
Thanks: 0 given, 6 received


Look, it really depends on the times that you find yourself awake and ready. Volume counts for a lot. But if a high volume hour comes when you've just gotten out of bed and are not fully awake it really is useless. If it comes after a long day it is also useless.

My suggestion is: find the time when you're consistently at full alert level. Get into the habit of getting into the zone at the same time every day (Including weekends). That way you'll be controlling for the variables that you can actually control.

The best and worst times to trade really depend on yourself.

Reply With Quote
The following user says Thank You to jlancaster for this post:

Reply



futures io > > > > Forex: When to trade

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Best Forex Market To Trade skyfly Currency Futures 17 September 26th, 2011 02:22 PM
Why do YOU trade commodity and index futures rather than forex? Arpad Psychology and Money Management 33 August 25th, 2011 06:25 AM
Can the G20 Make Progress on Forex and Trade? Quick Summary News and Current Events 0 November 8th, 2010 02:30 AM


All times are GMT -4. The time now is 10:49 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-18 in 0.15 seconds with 20 queries on phoenix via your IP 54.226.113.250