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Don't daytrade the London/NY session?

  • Post #1
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  • First Post: Nov 27, 2013 9:26am Nov 27, 2013 9:26am
Almost everywhere you'll read it's best to trade the Londen and NY session because during these times volatilty is highest (eurusd for example). And it's the volatilty that makes me doubt this. Isn't volatility higher because banks and big players are playing the market during these sessions? Fact is that banks, brokers and big players want the herd's money and they probably take it during Londen and NY sessions.

The fact that almost everybody says the same thing makes me doubt it even more."A minority may be right; a majority is always wrong."(Quote by - Henrik Ibsen)

So wouldn't it be better to daytrade during less volatile times? What do you think?
There's no perfect answer. All depend on your trading style.

Take the pips when you are comfortable with what you see on your charts.
MT4/MT5 EAs/Indicators/Alerts coder
Another big player conspiracy theorist. If you think that the big boys are really out to take your money then you might as well pack up your charts and walk away from trading forever. The London session, as far as I'm concerned, the THE time to trade, and New York is close behind, unless of course you live in Asia. Trade you charts and take trades according to your methodology, and stop worrying about large animals breathing heavily behind you bent on your destruction, because they do not exist my friend.
No worries. I just thought other traders could provide me with some new insights regarding trading during less volatile sessions. Thanks for your observation and opinion.
Quoting Anusragger
No worries. I just thought other traders could provide me with some new insights regarding trading during less volatile sessions. Thanks for your observation and opinion.
The attachment covers the advantages of trading during less volatile sessions.
Attached File(s)
File Type: pdf fxcm-traits-of-successful-traders-guide.pdf   2.6 MB | 5,555 downloads
Quoting Anusragger
No worries. I just thought other traders could provide me with some new insights regarding trading during less volatile sessions. Thanks for your observation and opinion.
Apologies if I sounded a bit sharp, it's nothing personal. As traders we need volatility, it's when the market moves and most pips are gained. I'm not taking about news announcements which I generally stay clear of, but about those hours, principally between 6am - 10pm and 1pm-5pm London time, when most traders are at their desks. One can make money 24 hours a day in forex of course, that's the beauty of it. But banks and brokers ganging up to fleece retail traders!! It's rubbish. My opinion only of course. Goog luck!
TheMaxx, thanks. I'll read it.

Cat, no apologies needed. I didn't mean that the big boys are deliberately trying to take retail money. But isn't it so that in trading if you win, someone else looses? And when banks and big boys are awake, they are mostly winning. So retail is mostly losing. Thus wouldn't the chance of winning increase during bank naptime?
Quoting Anusragger
TheMaxx, thanks. I'll read it. Cat, no apologies needed. I didn't mean that the big boys are deliberately trying to take retail money. But isn't it so that in trading if you win, someone else looses? And when banks and big boys are awake, they are mostly winning. So retail is mostly losing. Thus wouldn't the chance of winning increase during bank naptime?
Retail traders are a very small part of the $4 trillion traded every day. They are almost irrelevant. The biggest players are the commercials on one side and the large speculators (banks) on the other side. Take a look at the COT report.
Hi jen101, I agree that retail is irrelevant. So doesn't it make more sense to trade when the giants are asleep? Unless offcourse, you know what they are doing/will do. Then you can ride their backs. Any ideas?
Quoting TheMaxx
{quote} The attachment covers the advantages of trading during less volatile sessions. {image}
I'm on page 15 now. This will make great reading/study over the coming holidays. Thanks, Maxx.
Quoting Anusragger
Hi jen101, I agree that retail is irrelevant. So doesn't it make more sense to trade when the giants are asleep? Unless offcourse, you know what they are doing/will do. Then you can ride their backs. Any ideas?
Why not trade then during holiday time: bank holidays, Christmas etc.? Because volumes are low. For technical analysis or price action to be more reliable, you need volume. When volumes are low, all you need is someone sneezing and the price will spike.
Quoting jen101
{quote} Why not trade then during holiday time: bank holidays, Christmas etc.? Because volumes are low. For technical analysis or price action to be more reliable, you need volume. When volumes are low, all you need is someone sneezing and the price will spike.
You've got a point there. Any insights on how to anticipate the giants? Or would that be the holy grail?
  • Post #13
  • Quote
  • Edited 1:40pm Nov 27, 2013 1:23pm | Edited 1:40pm
Quoting Anusragger
TheMaxx, thanks. I'll read it. Cat, no apologies needed. I didn't mean that the big boys are deliberately trying to take retail money. But isn't it so that in trading if you win, someone else looses? And when banks and big boys are awake, they are mostly winning. So retail is mostly losing. Thus wouldn't the chance of winning increase during bank naptime?
No, it doesn't work like that. Just because someone is winning it doesn't automatically imply that you are losing. Banks are winning and losing huge amounts all the time, they can afford to when the retail trader cannot. Traders who work for banks are using the same methods such as support and resistance to enter their trades as retail traders do, but because they are trading with millions, their trades move markets. Without this money, the markets just crawl along, as you will see when you watch the markets during the trough periods. The low periods, as someone has already noted, can be a much more dangerous time to trade as without the volatility it can easily spike. The best time to trade is when the most amount of money is on the table - Why play poker with a pauper when you can play with a Prince? Just make sure you're good enough first!
Sounds logical, thanks. Well, I'm at london+1 so I'm happy I can keep sleeping during the nights. And regarding the footprints of bigmoney I'm incorporating supply/demand levels in my trading.
Quoting Anusragger
{quote} You've got a point there. Any insights on how to anticipate the giants? Or would that be the holy grail?
The COT report.
  • Post #16
  • Quote
  • Last Post: May 1, 2014 8:13am May 1, 2014 8:13am
Volatility is required to make money. If the market is not moving up or down then how do you make any pips?

If you track momentum against currency strength, then you can trade with the big boys and make money as they do. A few simple moving averages can give you market direction, or you could retrieve a good currency meter indicator and instantly see which currencies are bullish and which are bearish. This will lead you to the volatile pairs. Currencies with similar strengths are fighting each other and probably in a tight range. These battles are in constant flux, though some last for hours, or days. If you prefer to trade only one currency, then you really need one of these indicators so you can see when the offsets occur, though usually it is after a consolidation that paints price into a triangle and then breaks through it.
You cannot be extraordinary by being normal
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