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Relation of the Asian session to the London session... 3 replies

Asian Session Fear

  • Post #21
  • Quote
  • Edited 12:37pm Sep 15, 2006 12:35pm | Edited 12:37pm
Quoting ProdiG
easiest time to trade. i only trade the asian session. if you got a good system and are satisfied with 10-20 pips a night then its the safest time to trade. most i ever lost was 10 pips during this session.
I'm with you ProdiG,
Asia is easy to trade. Asia doesn't often reverse. It does act different though. The momentum is S L O W.
I had to learn to be patient and not too greedy but now I pad my account here and there with Asia quite successfully.

Look for a move of about 30 pips movement in the Asian market. Then grab a bite.

P.S. most often the GBP/USD and the JPY/USD move the best.
Profit is where readiness meets Opportunity
Quoting smjones
Yes, I have a trade that depends on the stability of the Asian time frame...
There is always a way to find advantages in trading anything the markets can throw at us... The key is to adapt.
BTW, kolachi, thank you for your large contributions to FF... Scott
Thanks Scott.
Infact FF is my own site and I will be writing here as long as Magic Man is happy with me.LOL
I have learnt a lot from you,James and other seniors.
I must say Thank you scott.

kolachi
Well, I have to have an Asia centered approach, since my alternative is to stay up all night. That's not so good, since I need to leave for work 6:30-7 am MST.

But I actually like the idea of a slower market at least while I'm getting a handle on trading.
I have heard that the Asian sesion tends to be choppy. Never checked it out, myself.

Try using styles / systems suited to a trading market in those hours.
I read all of those things in the books and Vegas about Asian chop chop and stayed away. I'm sorry I did. I've discovered that it can be very profitable. No you don't get 500 pip moves, but a reliable 40 to 50 is a lot better. Especially when you remember, that the object of trading is to make money not prove how right you are. I trade the daily charts and many times would put in a trade in the evening to see it go up well 25 - 30 pips, then turn and reverse before hitting the profit taker in the US session. I learned something. If you've got a profit, there's nothing wrong with taking it. I use the EURUSD and USDCHF. No news is good news and techs rule those at night.
There's nothing "wrong" with the Asian session. The problem is that due ot the low ATR you have to have your trade and your account exposed longer than you would in other sessions. The longer you expose your account to the market, the more likely the odds are that some adverse move will occur. One of the statistics that strategies are measured by is exposure or "time in market". Less is always better than more.
Quoting dennis14685
If not then i catch the low of the day and hold it through Europe and catch the spike in usa if a trailing stop can be applied.
Ummmmmmm....how do you catch THE low of the day? I mean, if the asian low occurs at 7pm and it's 7pm, how do you know it's THE low? what if it goes lower?

Please tell me your secret to catching the asian low, I could make millions in just a few days.
Quoting philmcgrew
There's nothing "wrong" with the Asian session. The problem is that due ot the low ATR you have to have your trade and your account exposed longer than you would in other sessions. The longer you expose your account to the market, the more likely the odds are that some adverse move will occur. One of the statistics that strategies are measured by is exposure or "time in market". Less is always better than more.
No doubt Phil, that is the hardest thing to get used to during the asian trades. That little clock goes off in your head that says. "you have been in this too long! danger!" The momentum is so slow you just feel like you are about to get hosed. But, in general, it just keeps chugging along in your direction. I still get out too soon in the Asian trades sometimes but I am getting sharper on the exits. It is just something I am developing a "feel" for.
Profit is where readiness meets Opportunity
how clean was tonights Asian market?
Profit is where readiness meets Opportunity
Quoting FXopportunist
how clean was tonights Asian market?
Wow! It has moved 25% of the daily GBPUSD range and a pip in only worth 80% as much.



I'm happy for you. I just couldn't resist.
Quoting FXopportunist
how clean was tonights Asian market?
it was beautiful today. great chart set up and usdjpy short in the 117.40s
Quoting MrFuture
Hi

I keep reading that you should not trade during the Asian session (8pm et-2am et?).

So...does anyone trade during this time ?

When is it the best time to trade, based on YOUR experience and not what websites or books suggest.

I want to know when is it that you are actively trading with good results.

I hear stories of the best traders waking up at 2am et to catch the best movements......any truth in that ?

Thanks, as always...

Future
That's what I've been doing for the past few days... it's been profitable... but now I can't concentrate in school from lack of sleep. Moderation. Granted, I have extremely limited experience... but thought I'd share anyway.
Look at how my little thread is gaining interest I am so proud

LOL...just joking...well not really, it's nice to see your questions being answered by so many people

Anyways, I guess that we can all agree that even though the Asian session has a bad reputation for many valid reasons, it is not THAT bad as many want to show.

This is the nice thing about this market, 'cause everybody has many options for their trading style

Thanks to all of you for sharing your experiences

Future
"Lunch ? Lunch Is For Wimps !"
Quoting philmcgrew
Maybe they are playing golf. Kathy Lien states that the NY-Euro session overlap accounts for 80% of the daily range. "Just these percentages alone tell day traders that if they are really looking for volatile price action and wide ranges and cannot sit at the screen all day, the time to trade is the US and European overlap." She goes on to say "The trade intensity of the European-Asian overlap is far lower than any other session because of the slow trading during the Asian morning.....With trading extremely thin during these hours, risk-tolerant nd risk-loving traders can take a two hour nap or spend time positioning themselves for a breakout move at the European or US open."

Like you, she is also a currency analyst. The charts don't lie, they show day after day the lack of volatility and price action in the Asian session. If you HAVE to trade Forex and you can only trade the Asian session then so be it. But, if you are a day trader looking for volitility (and most of us are) then Asia is not where it's at.

Last night the Euro moved 20 pips during the Asian session and 100 pips during the European-US session. You have to fish where the fish are.
At the end of the day, it really comes down to what your personality is, and thus, what your trading style is.

If you're a daytrader, then God forbid you have to trade during the Asian session. But if you're a swing trader, then you can handle that slow period.

Once again, trading is knowing who you are... as you know, that means it's 99% mental.
Mr. Trend
Bumping this thread.

I used to advocate against trading Asia. Now I am all for it. The volatility has increased since a couple of years ago and there is almost always one tradable move per session, if not more. It is still the least volatile of the three sessions, but there are opportunities for the taking. A more active Asia session is a great thing for US traders who have day jobs, and preferable to waking up before dawn to trade what is left of London prior to the NY open. Typically things won't get rolling until 8pm eastern time at Japan open (7pm when standard time is in effect - Japan has no daylight savings), though I am typically watching at least one hour prior to Japan open. I wait for one good move, which is all I need for the day. I am simply too busy otherwise to watch the market all the time, and Asia has emerged as a nice alternative to the go-go London and New York sessions.

Asia sometimes takes a while to wake up, so the key is to simply wait for a clearly articulated direction and do NOTHING until that articulation takes place. Watching several pairs at once for correlated moves is important. Once you get a feel for market action, the opportunities are obvious. Then it's all MM, controlling greed, etc.
  • Post #36
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  • Last Post: May 11, 2009 4:29pm May 11, 2009 4:29pm
Hello!
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