Question about sleep schedules for full time traders... | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Trading schedules - best time for a rookie? 0 replies

Alternative Sleep Cycles/Whats your sleep cycle? 17 replies

Dear Full time/Part time Traders – Thanks for your time and help 7 replies

Question to full time traders. 8 replies

Sleep function question 0 replies

Question about sleep schedules for full time traders...

  • #1
  • First Post: Nov 2, 2018 8:07pm Nov 2, 2018 8:07pm
I new to forex but the more I learn, the more I am getting into it and getting more active.

How do traders that live on the west coast of the United States monitor and trade each session? Are there any unusual (not common) sleep patterns to keep in mind to be successful - for example Do traders wake up at 1 AM to catch the beginning of the London session? Are there any pairs to focus on or avoid in order to maximize the times you are awake? Are there any strategies that can be implemented "over-night" to not miss a potential profitable trade while you are sleeping?

I want to optimize my sleep schedule to be able to monitor the markets as much as possible.
If you're gonna be a bear, be a grizzly
  • #2
  • Nov 4, 2018 6:12pm Nov 4, 2018 6:12pm
Sleep is so important, don't fatigue yourself. Forex goes on and on. According to my world clock right now it's 4pm for you, and the next 2 hours are peak for the Asian so I'd say 4-6pm for you is good. Next big session is in 5 hours time so it would be your 9pm, and action then go up/down for 5-8 hours. That's a big time slot already !! I find my trading goes downhill after 3 hours, don't think that longer time in front of the screen in one go will improve you, it's fatiguing!!!
  • #3
  • Nov 5, 2018 7:52am Nov 5, 2018 7:52am
Quoting warrensapp
I new to forex but the more I learn, the more I am getting into it and getting more active. How do traders that live on the west coast of the United States monitor and trade each session? Are there any unusual (not common) sleep patterns to keep in mind to be successful - for example Do traders wake up at 1 AM to catch the beginning of the London session? Are there any pairs to focus on or avoid in order to maximize the times you are awake? Are there any strategies that can be implemented "over-night" to not miss a potential profitable trade while...
One of the nice things about forex is that it is essentially a 24hr market during the working week with three main sessions - European, American and Asian which take turns to be the active, liquid, hub. Obviously, some pairs are more active than others in the different sessions.

So, if you are not so particular about which pairs you want to trade - the most active with lowest round trip costs are ones to generally favour at least at first - then trade the most active pairs that suit the times of the day you want to trade. If you are particular then you may have to get used to doing your trading at odd times of your day; it all depends on where you and the market you trade happen to be, time zone speaking.

As to your other question, there are plenty of set-and-forget type longer timeframe strategies using stop and limit orders you could employ. You don't have to sit in front of a screen and trade live to be a trader, it's a matter of personal preference and emotional suitability.
  • #4
  • Nov 5, 2018 11:21am Nov 5, 2018 11:21am
Find an EA that works. Check it before going to bed n check it when you wake up. Trading FX live on the west coast and maintaining a normal life style is impossible.
  • #5
  • Nov 6, 2018 10:18pm Nov 6, 2018 10:18pm
Greed keeps you awake when you're racking up profits. Stress keeps you awake when you're taking losses. Sleep? What's that?
  • #6
  • Nov 6, 2018 11:36pm Nov 6, 2018 11:36pm
Quoting warrensapp
I new to forex but the more I learn, the more I am getting into it and getting more active. How do traders that live on the west coast of the United States monitor and trade each session? Are there any unusual (not common) sleep patterns to keep in mind to be successful - for example Do traders wake up at 1 AM to catch the beginning of the London session? Are there any pairs to focus on or avoid in order to maximize the times you are awake? Are there any strategies that can be implemented "over-night" to not miss a potential profitable trade while...
https://www.forexfactory.com/showthread.php?t=730458

Try the 15min Eur/Jpy breakout thread. Good for us West Coast U.S. guys
A snails pace wins the race :-)
  • #7
  • Nov 7, 2018 5:20am Nov 7, 2018 5:20am
If you trade in each session, you will get too much adrenaline. You simply can not sleep well. There are 2 types of sleep: deep and light. If you sleep between trading sessions, your sleep will not have time to go deep.
I advise you to watch the news forecasts in advance and trade only during those news that have an impact. Plan your schedule in advance, at the beginning of the week.
  • #8
  • Last Post: Nov 7, 2018 10:59am Nov 7, 2018 10:59am
Quoting OutThere
Find an EA that works. Check it before going to bed n check it when you wake up. Trading FX live on the west coast and maintaining a normal life style is impossible.

I am just now starting to learn about EAs. I think after I am doing learning the basics of forex, I want to start learning how to use them and even create my own.

I know I have a lot of work cut out for me.
If you're gonna be a bear, be a grizzly
0 traders viewing now