I've been trying to make a list of time when it's not your best interest to trade, be it because of bad liquidity, or because bad volatility (too little or too much). Was wondering if I can get some help completing this list.
Please keep in mind two things:
1) I'm on New York time, in case it's important.
2) I'm interested in the E$, the UJ, and the GU.
This is what I have so far (time, followed by reason not to trade)
Time of day: Sundays (Asian session) and Friday afternoons - little liquidity. Set ups tend to fail more often.
Major news (30 minutes before to 30 minutes after) - ridiculous spread. Too volatile for my newbie reflexes.
Hmmm... That's it. That's all I've got.
Anybody care to help me complete the list? I KNOW that there are days that forex veterans would rather just take off and go to the beach than watch their set ups fail again and again. What days are just bad for trading in general (and for newbies in particular?) I've heard someone mention something about "triple witching day?" What is that? Also, I hear that the NFP can give your account a heart attack, but... Is it enough to avoid 30 minutes before and after the NFP? Or would you take the whole day off? Are there any other days that it would be more advisable to take a mini vacation rather than trade?
Thanks!
Please keep in mind two things:
1) I'm on New York time, in case it's important.
2) I'm interested in the E$, the UJ, and the GU.
This is what I have so far (time, followed by reason not to trade)
Time of day: Sundays (Asian session) and Friday afternoons - little liquidity. Set ups tend to fail more often.
Major news (30 minutes before to 30 minutes after) - ridiculous spread. Too volatile for my newbie reflexes.
Hmmm... That's it. That's all I've got.
Anybody care to help me complete the list? I KNOW that there are days that forex veterans would rather just take off and go to the beach than watch their set ups fail again and again. What days are just bad for trading in general (and for newbies in particular?) I've heard someone mention something about "triple witching day?" What is that? Also, I hear that the NFP can give your account a heart attack, but... Is it enough to avoid 30 minutes before and after the NFP? Or would you take the whole day off? Are there any other days that it would be more advisable to take a mini vacation rather than trade?
Thanks!
Money missed is better than money lost