Best time to trade

I currently work a full time 1st shift job... and have been trading in the afternoon when I get home from work. 6PM-12AM EST....

Do I face harder trading times due to a lower volatility? Or am I just making excuses for myself for my poor performance lately...?

If you're trading on the lower time frames, there's definitely some decent moves during Sydney & Tokyo. Not all of the time though. Low volatility can definitely slow you down a bit on the lower time frames. Sometimes I go days without a trade, other days I may get two to four trades. I personally like to trade from Frankfurt to an hour or so into London, with a little Asian & NY mix thrown in. One thing you may want to do to mix it up a little bit is to add some longer term trades to your arsenal. For instance I usually have a couple long term trades running, but day to day I like to trade on the lower time frames. I have two longs on EU running from June 10th and July 6th.

Don't be so rough on yourself though. We all lose, even having losing days, weeks, months or even years. Just don't beat yourself up over it.

If you ask me its not about the when, its about how you trade and what are your expectations, you can trade on any time frame on any market! I recommend start working on your trading strategy and psychology,

good luck!!!

During the European and NA market hours

AUD/USD, USD/JPY should have some good short-term moves around the time you are available.

Trading happens always at anny moment in the world.
You have to see for yourselfs which market is open or closed at the moment you get home and chose a pair that suits your trading style.

i find the london session this best time to trade

regards damien

I'm in the same situation as you. I currently live in South America and due to the local working hours I'm unable to trade the European and US sessions. I have tried to trade the Asian session but in my opinion if you are a day trader you need to trade the opening in Europe and the US - that is where the "easy" pips are. I'm really looking forward to relocating to Asia

I'm also finding myself in the same boat as you. I find that the best times to trade are between 11pm to 1am (for a start) (EST by the way) and it really starts to pick up the closer we get to london open.

Although staying up to 3-4-5am is really messing with my schedule.

I'm thinking of going to sleep when I'm done with the day, possibly at 5-6pm, and waking up at 2am.

Forex Trade Returns to Precrisis Levels, Nears $4 Trillion Daily

The global currency-trading business expanded at a double-digit rate in the six months to April this year, data from key monetary authorities around the world showed Monday.

The strong growth puts the foreign-exchange market on track to top a record $4 trillion in daily trading volume, extending its recovery after the global recession caused activity to dry up in the first part of 2009.

Worries over the euro zone's sovereign debt crisis and concern over the pace of the global recovery are likely to keep volatility—the main driver behind the currency market's recent trading rebound—high. At the same time, the growth in Australian trade volume is a reminder of a deeper underlying shift as investors and companies move their exposure from the advanced economies of Europe and the U.S. toward Asia and emerging markets.

Still, that is a longer-term trend. For the most recent half-year, "no question, front and center was the euro," said Jeff Feig, managing director and global head of Group of 10 foreign exchange at Citigroup and the chairman of the Foreign Exchange Committee sponsored by the Federal Reserve Bank of New York.

"The volume growth was really a result of the volatility and the fact that you had real end users actively hedging their exposures." Worries over the euro zone's debt crisis prompted corporations and other investors to shield themselves from sharp swings in the common currency by turning to the perceived safety of the dollar, yen and Swiss franc.

Currency trading flows in the U.K., the world's biggest dealing hub, grew by 15% in six months to April, taking the daily average to $1.747 trillion, data released by the Bank of England showed Monday.

In the U.S., daily currency flows grew by a slightly more modest 12% to $754 billion in the six months to April, but that total was just shy of the record $762 billion seen in October 2008. The total includes spot transactions as well as currency derivatives.

London grabs roughly one-third of global currency-trading flows, with New York taking around one-fifth. Other trading hubs around the world account for the remaining half. Central banks and other monetary authorities in each of the major trading center compile trading volume statistics on an annual, or semiannual basis.

Daily trading volumes in Australia soared by 54% in April from a year ago, taking the total to $191.2 billion as the Australian dollar, with its commodities-related exposure to China, was traded as a proxy for the Chinese yuan, analysts said. Japanese flows grew by 16% to $294.1 billion over the same period.

The world-wide daily foreign-exchange market should now stand at more than $4.1 trillion, according to an HSBC report. That is a 28% jump from the $3.2 trillion figure established in 2007 by the Bank for International Settlements in its latest survey. The BIS is due to update the official figure later this year. Still, the pace of growth is slower than the previous three-year period, when volumes grew 63%.

- From the WSJ 7/27/10

Well, don't think it really matters anymore... I am giving up at this market... their is no rhyme or reason to the direction it takes... it reminds me very much of the OTC market in the equities market...

I'm done giving money away here.... good luck to all. I'm going to go stick with what I know...

I have been where you are so I think I can help.
I assume you have read everywhere on articles other "traders" technical analysis. etc.
Anyways, take a break... Play some poker, this helped me alot... just the free rolls... You will be amazed how similar it is, you get punished for not beeing patient, you get rewarded for playng good... But only in the looooooong run... This also helps you to take away the gambling need in the market... If you earn 2xBigBlinds pr 100 hands you are doing really really good... That's not alot now is it? Just because of some of the luck in the game which is heaps less than any trading market....

If you have traded and don't see what you are doing wrong you have a problem... Then I would quit...

If you see where your soft spots are, fix them and you will benefit...

The market can only move two ways so how can you loose as long as it is trending....? Look at the daily and try to catch the trend cheaply with 1H chart... putting before you put on the trade say to yourself "if this goes wrong what was the reason or will I regret this trade if it goes wrong?" if there is no reason you are going in the right directionon. Put only on 1-3 trades a week but make sure that the setups look really good (cheap).

If you can blow your account you can def. earn money... the smart traders blow their accounts several times a mount (just the reversed way)...

I don't agree that play money in the market is a good way to learn, but with Oanda there is no minimum so put a 100-200 in and give it a go after reading this pdf... And remember that your trading method is only 15-20% of the reason you will be on the right side.... It is your mindset that will make you money... Stick to your 2% rule and 10% plateu...

If your account has small losess and heaps of break even and some large gains your on the right track... Some of the best traders have 10-15% a month, what does this tell you? by risking only 2% they don't put on heaps of trades do they? No...

Good luck!!! and as Richard said to his turtles "anyone can learn to trade"...
Which he def. proved...

Google for market wizards also on pdf...
http://www.mediafire.com/?tyw22mtymlo

Best time to trade is during london open till ny close.

Asia sessions are very slow moving. If you are a long term trader (4hours or daily chart) it doesn't matter very much.

If you trade anything less than 4 hours, it matters a lot.

The worst place ever to be a trader is in california unfortunately.

I've lived in the east and west coast of the states a bit and at least the east gets a full 8 hours of trading. West side only gets to clean up the leftovers... Unless you plan to wake up at 4 am in the morning.

Don't give up now. The last couple of months have been difficult to trade, so if your not an experienced trader, your going to get your butt handed to ya. Try to trade the London session. It is by far the best session to trade and trade the eur/usd. IMO its the easiest pair to trade. If you need help with a strategy, let me know and I will try to help.

Rog

Best time to trade is london session IMO. And if your going to give up now, then maybe the passion wasn't there to do this anyways. Only the strong survive in this and thats the mentality you have to have