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Trading in California (PST)

  • #1
  • First Post: Edited 8:21pm Apr 16, 2010 5:39pm | Edited 8:21pm
Just wondering how many are trading in Pacific Time Zone? I am in California, and I like to manage my trades and have struggled with the fact that the most active times are when I normally sleep. Just wondering if I'm the only one?
  • #2
  • Apr 16, 2010 5:49pm Apr 16, 2010 5:49pm
I live in PST. I try to watch market Asian open for couple hours, and from 11pm to 12am has some good moves. But been busy with school lately so havent been trading.
Yea it's Life//
  • #3
  • Apr 16, 2010 6:04pm Apr 16, 2010 6:04pm
Yes, it initially forced me to start trading based on Daily setups, which was great, probably one of the best ways to trade price action and S/R. I use limit orders and price alarms on my other method, seems to work fine, but still find myself staying up too late.
  • #4
  • Apr 16, 2010 6:16pm Apr 16, 2010 6:16pm
What time does your daily bar ends? Because mine ends at 2pm NY close
Yea it's Life//
  • #5
  • Apr 16, 2010 6:19pm Apr 16, 2010 6:19pm
Mine end at 4pm my time, so 7pm EST.
  • #6
  • Apr 16, 2010 6:45pm Apr 16, 2010 6:45pm
I don't live out there but I have traded from that time zone before. It can be difficult if you don't stay up too late. I was trading the London start mostly from 11pm to 2am. If you woke up early you might could also catch the US open. But lately that session has been crap too. Id stick with the euro session personally.

Where are you located? I am contemplating a move to the LA area. That or back to Hawaii... such tough decisions for a forex trader lol.

Oh and just curious why you guys dont use 5pm Eastern time for the close since that is when swap interest is typically paid out..
  • #7
  • Apr 16, 2010 6:46pm Apr 16, 2010 6:46pm
Quoting Jcpfx
Just wondering how many are trading in Pacific Time Zone? I am in California, and I like to manage my trades and have struggled with the fact that the most active times are when I normally sleep. Just wondering if I'm the only one?
You're not the only one, for sure. Cali's a great place to live and the worst TZ for trading FX on the planet (the best is Australia). I've wrestled with this for years, would be wealthier than Gates if not here. I see 2 choices; either move or find a way to deal with it. The best FX trader I've ever seen lives in LA, "pipmaestro" by name (he hasn't posted for 3 months - don't know if he's still amoung us). He micro traded from midnight to 6AM; that's a solution if you don't mind turning your day upside down. If you're not willing or able to do that, then you must set your sights on Tokyo or NY. Tokyo is in our sweet spot, but generally the worst of the 3 sessions. However, he does put in good days. Learning to recognize the best pairs to trade in Tokyo, and having the patience to wait for your set-up, will reward you. NY is a different story; set your sights on 0800E (if you don't mind getting up early) and 1000E (NY Option Cut); look for reversals and or strong moves at these times.
Bottom line - "If you can make it here, you can make it anywhere."

If this makes any sense I'd appreciate a reply; always on the lookout for Cali traders.
They call me "Hondo"
  • #8
  • Apr 16, 2010 6:53pm Apr 16, 2010 6:53pm
Quoting eventtrading
Cali's a great place to live and the worst TZ for trading FX on the planet (the best is Australia). I
Just wondering why you think Australia would be best. Ive never really though much about it. I lived in Hawaii for several years and that was a great place to trade forex from (stocks sucked, had to wake at 4am). Like I previously stated I trade mostly the London session and that starts at 8pm in Honolulu. I would trade for a few hours and then go to the bar with friends around midnight (our bars were open til 4am, then ya had the afterhours). Perfect place if you can afford to live there.

Are you in LA?
  • #9
  • Apr 16, 2010 7:07pm Apr 16, 2010 7:07pm
Quoting traderjai_inhi
Just wondering why you think Australia would be best. Ive never really though much about it. I lived in Hawaii for several years and that was a great place to trade forex from (stocks sucked, had to wake at 4am). Like I previously stated I trade mostly the London session and that starts at 8pm in Honolulu. I would trade for a few hours and then go to the bar with friends around midnight (our bars were open til 4am, then ya had the afterhours). Perfect place if you can afford to live there.

Are you in LA?
Australia covers the Asian open, the London open, and the NY open during a "normal" human day, i.e, 6AM - 12Pm. Bed time is Dead Time. It's wonderful; plus the women are gorgeous!
They call me "Hondo"
  • #10
  • Apr 16, 2010 7:10pm Apr 16, 2010 7:10pm
Quoting traderjai_inhi
I don't live out there but I have traded from that time zone before. It can be difficult if you don't stay up too late. I was trading the London start mostly from 11pm to 2am. If you woke up early you might could also catch the US open. But lately that session has been crap too. Id stick with the euro session personally.

Where are you located? I am contemplating a move to the LA area. That or back to Hawaii... such tough decisions for a forex trader lol.

Oh and just curious why you guys dont use 5pm Eastern time for the close since that is when...

I'm in the Bay Area, about 30 miles East of San Francisco, I like it here, been here my whole life. Hawaii, now your talkin, sleep on the beach during the day and trade at night!

I have found that around 8:00 a.m PST I am able to get some great reversal trades in on the EURO, usually two or three a week.
  • #11
  • Apr 16, 2010 7:15pm Apr 16, 2010 7:15pm
Quoting eventtrading
You're not the only one, for sure....

Yes, makes total sense, I have been looking for some CA traders gets kind of lonely when most are offline when I am on. I have been at this for a little while now and have been working on methods that work around my timeframe, but it still involves a couple of late nights here and there.
  • #12
  • Apr 16, 2010 7:40pm Apr 16, 2010 7:40pm
Jcpfx, are your methods shorter time frame?
Yea it's Life//
  • #13
  • Apr 16, 2010 8:03pm Apr 16, 2010 8:03pm
Hi Serj 1,

I am currently trading 3 methods. One is based on Daily's and Weekly's, it's the J16 method.

The second method I use limit orders and trade support and resistance based on Daily, 4H, 1H and 30M, this one requires me to wake up or stay up late occasionally, but not much.

The third is still under evaluation, and I only trade it between 8:00am - 11:00am PST. It is based on the 5M and 15M charts. I usually only get a couple trades a week on this, sometimes none if I am busy.
  • #14
  • Apr 16, 2010 9:15pm Apr 16, 2010 9:15pm
Quoting eventtrading
.. (the best is Australia).....
well, i'll openly contest that & say South east asia is the best.
http://www.forexfactory.com/showpost...&postcount=400
  • #15
  • Apr 17, 2010 2:42am Apr 17, 2010 2:42am
I trade in PST and would agree that it has to be one of the worst Time Zones for a FX Trader.
  • #16
  • Apr 17, 2010 3:17am Apr 17, 2010 3:17am
I'm in Seattle - same time zone - but, it's not bad for me. I'm a night owl!
(see post time. LOL!)
  • #17
  • Apr 17, 2010 3:19am Apr 17, 2010 3:19am
FXSurfer I live 3.5 hours away from Seattle. I visit friends in there some time. So do you trade full London session?
Yea it's Life//
  • #18
  • Apr 17, 2010 3:23am Apr 17, 2010 3:23am
Quoting serj1
FXSurfer I live 3.5 hours away from Seattle. I visit friends in there some time. So do you trade full London session?
Hi Serj!

Usually just pre-Frankfurt until a couple hours into London. It depends on what's happening. I do have to catch some z's now though. Have a good one!
  • #19
  • Apr 17, 2010 3:32am Apr 17, 2010 3:32am
Hey jcpfx I think we must be neighbors. I'm about 30 miles east of the city too. San Ramon to be exact. Where are you?

I stay up 'till about 2 or 3 am to trade london, it makes trading NY nearly impossible...

East Bay California- a great place to live but tough to trade...

Quoting Jcpfx
I'm in the Bay Area, about 30 miles East of San Francisco, I like it here, been here my whole life. Hawaii, now your talkin, sleep on the beach during the day and trade at night!

I have found that around 8:00 a.m PST I am able to get some great reversal trades in on the EURO, usually two or three a week.
  • #20
  • Apr 17, 2010 4:05am Apr 17, 2010 4:05am
Quoting wolfeman
Hey jcpfx I think we must be neighbors. I'm about 30 miles east of the city too. San Ramon to be exact. Where are you?

I stay up 'till about 2 or 3 am to trade london, it makes trading NY nearly impossible...

East Bay California- a great place to live but tough to trade...
So I am not the only one grappling with the PST thing. I trading from Oakland and fairly new to forex, trading only demo accounts. I am trying to find what works for me. Just started reading james16. I have tried indicators but starting to find some consistency with price action. greetings to you all on the west coast.
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