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  • #54,761
  • Jan 7, 2009 12:51pm Jan 7, 2009 12:51pm
Quoting pzarker
hey this is for those of you guys that trade regularly during the day, normally i only trade early am or from 630pm est. on.

how come things dry up and quiet down starting around ~12:00?
Because it is lunch time, things pick up at 1530-1600.
  • #54,762
  • Jan 7, 2009 12:52pm Jan 7, 2009 12:52pm
haha i guess that makes sense im mad that didn't occur to me.


thanks guys appreciate it.
  • #54,763
  • Jan 7, 2009 12:54pm Jan 7, 2009 12:54pm
Quoting iii
Because it is lunch time, things pick up at 1530-1600.
looks like we have some down in to go.
  • #54,764
  • Jan 7, 2009 12:55pm Jan 7, 2009 12:55pm
Quoting klinckphilip
looks like we have some down in to go.
Not so sure yet, will wait till the close of the day and then we will see.
Edit: On a fundamental note, there are some propositions from the european countries as to the resolution to the Gaza conflict.
  • #54,765
  • Jan 7, 2009 12:55pm Jan 7, 2009 12:55pm
Is it lunch time now? I live in GMT+7. What time is it in NY?
Manage your risk accordingly and you're half done your home work.
  • #54,766
  • Jan 7, 2009 12:56pm Jan 7, 2009 12:56pm
Quoting klinckphilip
looks like we have some down in to go.
1.3640 first resistance
  • #54,767
  • Jan 7, 2009 12:57pm Jan 7, 2009 12:57pm
to answer Tjpld

It all depends on your trading style, Me I like seeing a clear trend, wait for a retracement and then get a signal.

100 EMA/SMA etc usually are used by alot of Professional traders, This is why you would usually see hesitation on the line.

Also everyone has their own way of trading, I would NEVER take a trade where I would be getting only 40 PIPS.

For example my GBPUSD, had a 61 pip stop loss, with a 300 PIP profit.

Now saying this, I used the 1 hr and 4 hr.

You have a different approach using a smaller timeframe, so you probably make money from that.

I could also say I trade PA, because I trade what I see, just use EMA's and FIbonacci to help me.

Thanks
  • #54,768
  • Jan 7, 2009 12:57pm Jan 7, 2009 12:57pm
Quoting personalme
Is it lunch time now? I live in GMT+7. What time is it in NY?
2 pm.
  • #54,769
  • Jan 7, 2009 1:01pm Jan 7, 2009 1:01pm
You have asked about the trading that dies around 12 , take a look at this market cycle , very very few traders know about this :

Daily Market Cycle: (Eastern time)
5:00pm ~ 12:00am Ranged market
12:00am ~ 2:00am Market prepare to breakout as we approach London open
2:00pm ~ 3:00am Market reverses as traders from Asian market take profits
3:00am ~ 5:00am Market Trend Re-Establish on the direction of the Asian session
5:00am ~ 7:00am Market Trend Continuation
7:00am ~ 8:00am Market reverse and we see some profit taken
8:00am ~ 9:00am Market Trend Re-Establish
9:00am ~ 9:30am Market Minor Reversal
9:30am ~ 11:00am Market Trend Re-Establish and Continuation
11:00am ~ 12:00am Market Minor Reversal and profit taken
12:00pm ~ 5:00pm Ranged market

Happy trading,
Mr Green
Happy Trading everyone
  • #54,770
  • Jan 7, 2009 1:06pm Jan 7, 2009 1:06pm
Quoting spavadache
You have asked about the trading that dies around 12 , take a look at this market cycle , very very few traders know about this :

Daily Market Cycle: (Eastern time)
5:00pm ~ 12:00am Ranged market
12:00am ~ 2:00am Market prepare to breakout as we approach London open
2:00pm ~ 3:00am Market reverses as traders from Asian market take profits
3:00am ~ 5:00am Market Trend Re-Establish on the direction of the Asian session
5:00am ~ 7:00am Market Trend Continuation
7:00am ~ 8:00am Market reverse and we see some profit taken
8:00am ~ 9:00am...
The only problem is that it is not that accurate, in the morning hours there are usually alot of news anouncements, so sentiment and the actual numbers can absolutely nulify the daily trends that you have displayed. Sure it works sometimes, but have you backtested it yourself? I would never take someone else's word for it, but instead do the backtesting myself, using the parameters that I consider as reversals, accumilations, etc.
  • #54,771
  • Jan 7, 2009 1:11pm Jan 7, 2009 1:11pm
Quoting spavadache
You have asked about the trading that dies around 12 , take a look at this market cycle , very very few traders know about this :

[b]Daily Market Cycle:...
Wow...that is a very detailed observations.
Looks like an FBI investigation report
  • #54,772
  • Jan 7, 2009 1:16pm Jan 7, 2009 1:16pm
Quoting klinckphilip
1.3640 first resistance
good time to get out or buy
  • #54,773
  • Jan 7, 2009 1:18pm Jan 7, 2009 1:18pm
Quoting klinckphilip
good time to get out or buy
bouncing off of the 1h 400 ema but againsed the daily 21 ema
  • #54,774
  • Jan 7, 2009 1:20pm Jan 7, 2009 1:20pm
Reversal in focus if this set up hold until 3:00 pm est
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"Simplicity is the ultimate sophistication" leonardo da vinci
  • #54,775
  • Jan 7, 2009 1:21pm Jan 7, 2009 1:21pm
Quoting klinckphilip
bouncing off of the 1h 400 ema but againsed the daily 21 ema
Patience is a virtue, changing your standpoint every few minutes will not lead to profits. Besides I do not see a buying opportunity anywhere in sight, the down risk is just way to high.
Edit: Besides I am already short on my mini account, nothing major, just 5 contracts...this is due to being unsure about the direction. Fills were at 1.3715 for 3, 1.3689 and 1.3674 for the remaining 2.
  • #54,776
  • Jan 7, 2009 1:23pm Jan 7, 2009 1:23pm
Quoting bosoko
to answer Tjpld

It all depends on your trading style, Me I like seeing a clear trend, wait for a retracement and then get a signal.

100 EMA/SMA etc usually are used by alot of Professional traders, This is why you would usually see hesitation on the line.

Also everyone has their own way of trading, I would NEVER take a trade where I would be getting only 40 PIPS.

For example my GBPUSD, had a 61 pip stop loss, with a 300 PIP profit.

Now saying this, I used the 1 hr and 4 hr.

You have a different approach using a smaller timeframe,...
I've found, personally, that the smaller the acct balance - the smaller the time frame you (I) must trade by? A 60 pip loss would ruin my trading plans for a week, so my stops have to be very tight and I need to be very lucky with my trades and do my homework twice before I place a trade. I need to look for real bottoms and real tops before I can get in or I'll either nickel and dime myself out of the game or take one big hit too many by placing my stops too loosely.
  • #54,777
  • Jan 7, 2009 1:34pm Jan 7, 2009 1:34pm
Quoting d-e-f
I've found, personally, that the smaller the acct balance - the smaller the time frame you (I) must trade by? A 60 pip loss would ruin my trading plans for a week, so my stops have to be very tight and I need to be very lucky with my trades and do my homework twice before I place a trade. I need to look for real bottoms and real tops before I can get in or I'll either nickel and dime myself out of the game or take one big hit too many by placing my stops too loosely.

I trade by percentage of what I want to risk. for example lets say I have a 100k account, and I want to risk 4%(which is what I risk really) this means I'm willing to risk $4k on a trade out of 100k.

Since my stop loss varies and tp.

Lets say I see a trade with a 50 pip stop loss. I would basically divide, the 4000 by 50 which means that each pip would have to be worth 80 or 8 standard lots.

ALso with money management I always take a trade where I would at least make a 1 to 2.5. so if I'm risking $4k I'm seeking to get $10k. This means I could be wrong 2 out of 3 times and still eck out a 1% profit.
  • #54,778
  • Jan 7, 2009 1:39pm Jan 7, 2009 1:39pm
Today was a nightmare for me , I have lost many pips, but worse than that I broke many Items of my own system and rules which is not forgivable, so I punish myself, I wont trade till nexe week...

wish you all nice pips
  • #54,779
  • Jan 7, 2009 1:40pm Jan 7, 2009 1:40pm
Quoting iii
Patience is a virtue, changing your standpoint every few minutes will not lead to profits. Besides I do not see a buying opportunity anywhere in sight, the down risk is just way to high.
Edit: Besides I am already short on my mini account, nothing major, just 5 contracts...this is due to being unsure about the direction. Fills were at 1.3715 for 3, 1.3689 and 1.3674 for the remaining 2.
yeah the signals are just confusing. I choose sideways.
  • #54,780
  • Jan 7, 2009 1:41pm Jan 7, 2009 1:41pm
Quoting bosoko
I trade by percentage of what I want to risk. for example lets say I have a 100k account, and I want to risk 4%(which is what I risk really) this means I'm willing to risk $4k on a trade out of 100k.

Since my stop loss varies and tp.

Lets say I see a trade with a 50 pip stop loss. I would basically divide, the 4000 by 50 which means that each pip would have to be worth 80 or 8 standard lots.

ALso with money management I always take a trade where I would at least make a 1 to 2.5. so if I'm risking $4k I'm seeking to get $10k. This means I...
I think I'll try your MM method once I build up my acct a bit. Thanks for the tips.
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