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Times to trade?

  • #1
  • First Post: Jul 11, 2010 8:44pm Jul 11, 2010 8:44pm
Hi

I have noticed a lot of people talking about better and worse times to trade, but not really seen any solid answers as to what these times are. So my questions is what are the best times to trade.

Actually, I suppose the question really is

As someone who is trying to develop a realtively short term (1 - 5 day) swing trading style, between what times should I be most looking to take trades? When are the most 'tradeable', most easily spotted, and least like to reverse, swings developing? For instance, 9am - 5pm GMT?

I suppose a secondary question would also be, are there any times I should not be taking trades at all?

Thanks in advance

David
  • #2
  • Jul 11, 2010 8:46pm Jul 11, 2010 8:46pm
My own answer to this question is 9am - 4pm EST. Too take advantage of the overlapping of the UK/US trading times. However I am asking because I am not at all sure that answer is correct!
  • #3
  • Jul 11, 2010 9:56pm Jul 11, 2010 9:56pm
In my opinion, there is no "best" time to trade, per se. You need to figure out when you can devote uninterrupted time to trading and analysis and learn to trade at those times whether they be high or low volatility. Case in point, I would love to trade all of London and into the NY overlap but that's not feasible considering the timezone I live in and since I have a business to run everyday. So I will set myself for trades looking longer term on 4hr and daily charts so sessions don't matter as much and then trade the London/NY overlap either short term or by managing my longer term trades. You need to do what can work for your schedule. In my experience, if you try to force anything else, you'll be trading when you're not completely on your game, tired, worn out, and that's a major hurdle to profitability and the learning process in general. Good luck.
  • #4
  • Jul 11, 2010 11:21pm Jul 11, 2010 11:21pm
It depends on what is the chart you are analysing on..

1. If you are trading on anything below Daily chart (1 hr or 4hr etc..) you must trade between 1 AM EST (when UK session starts becoming active) to 3 PM EST (till when US session is active)

2. If you are trading on daily charts or above, then you must open the trade after the daily bar is closed and before the next days bar has substantially formed.
  • #5
  • Jul 11, 2010 11:54pm Jul 11, 2010 11:54pm
Quoting forexmarket
It depends on what is the chart you are analysing on..

1. If you are trading on anything below Daily chart (1 hr or 4hr etc..) you must trade between 1 AM EST (when UK session starts becoming active) to 3 PM EST (till when US session is active)

2. If you are trading on daily charts or above, then you must open the trade after the daily bar is closed and before the next days bar has substantially formed.
Did you learn this crap from the spam website you're pushing?
  • #6
  • Jul 12, 2010 8:06am Jul 12, 2010 8:06am
Quoting Lonestar
In my opinion, there is no "best" time to trade, per se. You need to figure out when you can devote uninterrupted time to trading and analysis and learn to trade at those times whether they be high or low volatility. Case in point, I would love to trade all of London and into the NY overlap but that's not feasible considering the timezone I live in and since I have a business to run everyday. So I will set myself for trades looking longer term on 4hr and daily charts so sessions don't matter as much and then trade the London/NY overlap either...
Obviously I need to take into account when I can devote uninterrupted time. I am trading the daily charts, only really looking at other timeframes when I am trying to find good entry and exit points on a trade I am already moving in on/out of. So I don't feel I need to sit at the PC for 8 hours a day watching charts. However I can build my sleep around these times if required. I have been a pro poker player for years and am used to working around the best times to play and being certain I am on my game for them.

On the flip side then, if a person is trading techicals, on a daily chart, looking to follow swings, is there a time they should NOT be taking trades?
  • #7
  • Jul 12, 2010 11:05am Jul 12, 2010 11:05am
Quoting learnerdavid

On the flip side then, if a person is trading techicals, on a daily chart, looking to follow swings, is there a time they should NOT be taking trades?
Illiquid volatile periods probably wouldn't be the best times to fine tune entries on shorter time frames but trading off a daily chart you're going to be immune from intraday 'noise' and the markets short-term reaction to fundamentals to a certain extent.

As you probably know it's not all plain sailing trading longer time frames, market sentiment can turn on a dime, currency traders are a fickle bunch!
  • #8
  • Jul 12, 2010 1:48pm Jul 12, 2010 1:48pm
Quoting pipmutt
Illiquid volatile periods probably wouldn't be the best times to fine tune entries on shorter time frames but trading off a daily chart you're going to be immune from intraday 'noise' and the markets short-term reaction to fundamentals to a certain extent.

As you probably know it's not all plain sailing trading longer time frames, market sentiment can turn on a dime, currency traders are a fickle bunch!
Yes but are my Swissy longs safe?
Gone to a better place
  • #9
  • Last Post: Jul 12, 2010 5:13pm Jul 12, 2010 5:13pm
Quoting smikester
Yes but are my Swissy longs safe?
Oh, I would say about as safe as Eur/Usd shorts


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