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Asian Session Fear

  • #1
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  • First Post: Sep 13, 2006 11:18pm Sep 13, 2006 11:18pm
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
"Lunch ? Lunch Is For Wimps !"
  • #2
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  • Sep 13, 2006 11:38pm Sep 13, 2006 11:38pm
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.
  • #3
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  • Sep 14, 2006 12:03am Sep 14, 2006 12:03am
Hi ProdiG,

What system do you use to snag your 10-20 pips in the asian session?

Thanks


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.
  • #4
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  • Sep 14, 2006 12:26am Sep 14, 2006 12:26am
I'm a manual trader so i just see what i like. that and a couple of moving average alignments and candle patterns. remember the Japanese invented the candlesticks so those are very useful. it usually takes a little while for you to get the pips. but if u are willing to wait 30mins-1 hour to get your pips you should be fine. i live in new york and refuse to trade the US session. way too volatile for me.
  • #5
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  • Sep 14, 2006 1:23am Sep 14, 2006 1:23am
Quoting ProdiG
I'm a manual trader so i just see what i like. that and a couple of moving average alignments and candle patterns. remember the Japanese invented the candlesticks so those are very useful. it usually takes a little while for you to get the pips. but if u are willing to wait 30mins-1 hour to get your pips you should be fine. i live in new york and refuse to trade the US session. way too volatile for me.
But the volatility is what makes it fun! Personally, I don't initiate new positions in the Asian session, I always wait until about 15min before London open to place my entries even if I've been casually following the trade formation during the Asian session. Asian session moves too slowly for me, but this isn't necessarily a bad thing as it gives a bit of "cooling off" time for the market and thanks to the time slot I get to go out and be a college student in my evenings instead of having to stick to a screen as would be the case if I lived in, well, the Asian session areas like Tokyo or Sydney .
  • #6
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  • Sep 14, 2006 1:47am Sep 14, 2006 1:47am
Quoting Hollis
But the volatility is what makes it fun! Personally, I don't initiate new positions in the Asian session, I always wait until about 15min before London open to place my entries even if I've been casually following the trade formation during the Asian session. Asian session moves too slowly for me, but this isn't necessarily a bad thing as it gives a bit of "cooling off" time for the market and thanks to the time slot I get to go out and be a college student in my evenings instead of having to stick to a screen as would be the case if I lived in, well, the Asian session areas like Tokyo or Sydney .
volatility is not too fun when you trade bigger blocks. sucks big time when your down $500 within minutes. I also go to college and yea trading early in the evening sucks but it beats having a job. if i go out and miss the asian session just trade the european session.
  • #7
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  • Sep 14, 2006 1:50am Sep 14, 2006 1:50am
It depends what you trade when really, the asian session is no less choppy than any other, the range however is smaller on most european pairs such as euro, swissy and cable. If you want to trade the asian session, look at the oceanic and asian area pairs, such as Yen pairs, NZD and AUD crosses, you will find a better range there. A lot of FX brokers are now offering index's as well, so that is another option to trade during these times.

In terms of more dangerous? .. i dont think so at all, if anything, with the smaller ranges, it is safer for the newer trader.
You can quit and they won't care, but you will always know.
  • #8
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  • Sep 14, 2006 4:59am Sep 14, 2006 4:59am
I love gbp/euro pair for trading because of its volatility. I found london/US open are good for trading time. I am an intraday trader and only looking for 10-20 pips movement. If God is so good to me, He will give me 30-40 pips during that time :-) I didnt trade asian time because the price movement is so slow and have to wait for hours to get profit. I am kind of person who cant wait for instant profit/loss
  • #9
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  • Sep 14, 2006 5:16am Sep 14, 2006 5:16am
Quoting Akuma99
It depends what you trade when really, the asian session is no less choppy than any other, the range however is smaller on most european pairs such as euro, swissy and cable. If you want to trade the asian session, look at the oceanic and asian area pairs, such as Yen pairs, NZD and AUD crosses, you will find a better range there. A lot of FX brokers are now offering index's as well, so that is another option to trade during these times.

In terms of more dangerous? .. i dont think so at all, if anything, with the smaller ranges, it is safer for the newer trader.
Good info as usual Akuma99. I've been live trading and I find I just crash at 2 am in Sydney. So my options are to wake up again, or just put a stop loss or check out the asian sessions.

Do you use your BB squeeze methods if you trade these?
  • #10
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  • Sep 14, 2006 8:20am Sep 14, 2006 8:20am
Hey minute, I know all about crashing around 2am ... the squeeze method I published here is part of my overall trading plan yes, no matter the market or instrument, I always make an effor to ensure I can use my methods across the board.
You can quit and they won't care, but you will always know.
  • #11
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  • Sep 14, 2006 12:26pm Sep 14, 2006 12:26pm
Thank you guys for your help.

The reason that I asked was that honestly I am doing pretty good when I place my trades Asian Time and then wake up with a profit (ET).

Now, obviously by the time I wake up the London session is in full swing, yet I feel that Asian Time slowly gives me the ok to place my trade, and then London takes it from there and speeds up the process.

I could be wrong.....but I definitely do feel that when trading during the day (NYsession) there are too many volatile changes that if go in the wrong way, can kill your account in minutes....

Thanks guys

Future
"Lunch ? Lunch Is For Wimps !"
  • #12
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  • Sep 14, 2006 12:42pm Sep 14, 2006 12:42pm
I'm primarily a swing trader so I find that my trigger doesn't go off until any time between 2230 and 1000 PST... so trading in the Asian session doesn't really effect me.

I am working on an intraday system and while I like the lowered volatility and calmness of the Asian session, it just doesn't move. I don't want to have to wait for three or four hours to make ten pips on an intraday system. That sucks and kinda ruins the whole point of trading on five or fifteen minute timeframes.

That's probably why I'm a swing trader -- I can make 200-400 pips in 5 days. THAT'S worth the wait.
Mr. Trend
  • #13
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  • Sep 14, 2006 12:47pm Sep 14, 2006 12:47pm
Quoting Mr Trend
I'm primarily a swing trader so I find that my trigger doesn't go off until any time between 2230 and 1000 PST... so trading in the Asian session doesn't really effect me.

I am working on an intraday system and while I like the lowered volatility and calmness of the Asian session, it just doesn't move. I don't want to have to wait for three or four hours to make ten pips on an intraday system. That sucks and kinda ruins the whole point of trading on five or fifteen minute timeframes.

That's probably why I'm a swing trader -- I can make 200-400 pips in 5 days. THAT'S worth the wait.
I agree...that's my approach. Short term trading with Forex is not for me at all. I prefer swing trading. It usually takes me 1 day to close my position, but it is usually worth the wait

Future
"Lunch ? Lunch Is For Wimps !"
  • #14
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  • Sep 14, 2006 1:12pm Sep 14, 2006 1:12pm
Depends on what currency Pair u play, I been trading for 3 years now on real full time. I like usd Jpy, so i normally catch the trend on the 3rd hourly candle in asian session. 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.Personally I never like entering a new trade during USA as its to volatile. I like to hold the low during asian session as usa normally spikes up the profit and i have a lot of pips already incase usa turns against me.

if u like JPY USD have a look at the charts and see the lows you can normally get 3 days out of 5.

I only have a small account as opposed to the big guns on new york so I dont like to play against the big guns unless i have 50 to 60 pips profit already in hand. (So i can bail out with a profit big or small with no loss)

Regards
Dennis
  • #15
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  • Sep 14, 2006 1:24pm Sep 14, 2006 1:24pm
It is 8am in Tokyo and the trading day begins for main Asia.. What do you think the Japanese are doing ..Playing Golf ? They are trading. I don't quite understand what type of systems you people are using, maybe it's the total surrender to indicators? or just your perception of the market as the observer in a quantum physics experiement. Hence you just can't see the trades. I trade the Asian market 5 days a week. I trade the London most days but not all.The N.Y. I only trade into heavy sentiment or news. after that it is the sideways market action until Australia opens... Lose the ma crosses and Asian will trade.
"Look Left Think Right"
  • #16
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  • Sep 14, 2006 5:59pm Sep 14, 2006 5:59pm
I've been told so many times that trading Asia is not worth it, that it's scared me off. Truth is, Asia is the only time I really have available to trade without massive pain. So I've been avoiding trading. (during NY I'm busy working for the man, and trading London means sleeping during Asia, which isn't so good since I'm on the US West Coast).

Time to get a backbone and just make Asia my session.
  • #17
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  • Sep 15, 2006 7:23am Sep 15, 2006 7:23am
Trade Asia, its safer and less volatile, i think most of the small traders hit that session. less risk = more reward, ok you not make 1000 pips a trade but you not loose it either. money mangement is the key...asia gives you time to think about your position, if you take the 3rd hourly candle from the period seperater thats around 11 japan time then nby then the trend is normally established.....simple but it works (Sometimes)

If u trade usa, then it normally ends high so scalp the profit taking at the end of session basically when the commercials r taking end of day profits
  • #18
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  • Sep 15, 2006 11:09am Sep 15, 2006 11:09am
I always trade assian session and have never felt any trouble.It is comparatively slow and time consuming whereas London is fast and the NY open which overlaps london session as well is really fast.

If anyone is trying to trade cable or euro in asian then he must not expect speed.In asian seesion yen and its crosses are quite active.

kolachi
  • #19
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  • Sep 15, 2006 11:16am Sep 15, 2006 11:16am
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


Quoting kolachi
I always trade assian session and have never felt any trouble.It is comparatively slow and time consuming whereas London is fast and the NY open which overlaps london session as well is really fast.

If anyone is trying to trade cable or euro in asian then he must not expect speed.In asian seesion yen and its crosses are quite active.

kolachi
  • #20
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  • Sep 15, 2006 12:12pm Sep 15, 2006 12:12pm
Quoting CurrencyAnalyst
It is 8am in Tokyo and the trading day begins for main Asia.. What do you think the Japanese are doing ..Playing Golf ? They are trading. I don't quite understand what type of systems you people are using, maybe it's the total surrender to indicators? or just your perception of the market as the observer in a quantum physics experiement. Hence you just can't see the trades. I trade the Asian market 5 days a week. I trade the London most days but not all.The N.Y. I only trade into heavy sentiment or news. after that it is the sideways market action until Australia opens... Lose the ma crosses and Asian will trade.
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.
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