Trading forex is rough because of the hours. I used to trade 6e, but only during the old Chicago pit hours/RTH. Problem was, as you know, a lot of the really good moves happen during the European session (even during Asia at times). So unlike ES, Ags, Bonds, Crude......the real volume in 6e occurs at odd hours for us trading in The U.S. IMHO to trade forex you gotta be basically trading from European open until probably 2-3 pm edt. Then ready to start trading again when Asia opens in case there is a big move there.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Always Amazed at How Thin this Game Is
- Thread starter jonny1lot
- Start date
Trading forex is rough because of the hours. I used to trade 6e, but only during the old Chicago pit hours/RTH. Problem was, as you know, a lot of the really good moves happen during the European session (even during Asia at times). So unlike ES, Ags, Bonds, Crude......the real volume in 6e occurs at odd hours for us trading in The U.S. IMHO to trade forex you gotta be basically trading from European open until probably 2-3 pm edt. Then ready to start trading again when Asia opens in case there is a big move there.
I used to try to trade Europe open after a nap but it just isn't good for me. I seem to be doing OK just 7 or 8 till about 1030. The liquidity is nice. I used to get caught in counter moves between 5 and 7 am eastern. You just have to look at the charts in context--heres the early move, then the retracement. Now we should resume. If we don't I'm questioning the validity of the first move. Fridays action in the euro was good example. We were set up to rallly from the previous day and Asia. It stalled near 108 though and came back to support around 107.60-70. Below 60 the rally was in danger. Then it did in fact sell off after blasting up to around 90 on news. After that failure the market was telling me to get short around 50,which I failed to do. Nice reversal though, as so much trading on bid side before in the face of a strong downtrend. That's my story and I'm sticking to it.Trading forex is rough because of the hours. I used to trade 6e, but only during the old Chicago pit hours/RTH. Problem was, as you know, a lot of the really good moves happen during the European session (even during Asia at times). So unlike ES, Ags, Bonds, Crude......the real volume in 6e occurs at odd hours for us trading in The U.S. IMHO to trade forex you gotta be basically trading from European open until probably 2-3 pm edt. Then ready to start trading again when Asia opens in case there is a big move there.
I used to try to trade Europe open after a nap but it just isn't good for me. I seem to be doing OK just 7 or 8 till about 1030. The liquidity is nice. I used to get caught in counter moves between 5 and 7 am eastern. You just have to look at the charts in context--heres the early move, then the retracement. Now we should resume. If we don't I'm questioning the validity of the first move. Fridays action in the euro was good example. We were set up to rallly from the previous day and Asia. It stalled near 108 though and came back to support around 107.60-70. Below 60 the rally was in danger. Then it did in fact sell off after blasting up to around 90 on news. After that failure the market was telling me to get short around 50,which I failed to do. Nice reversal though, as so much trading on bid side before in the face of a strong downtrend. That's my story and I'm sticking to it.
Yeah, I would do the same at times. Wake up at 2 am my time to trade the first hour or so of Europe. But it wears you down. I found myself not nearly as sharp then during U.S. hours.
Ya gotta trade whatever hours are best though. If you are getting the good trades from 7-10:30 then stick to it. It's not about trading the whole session, it's about putting on the trades where you have an edge/your strategy works best. I trade from the open of RTH in each market until about noon edt. The volume and volatility has been drying up right at lunch time/European close. Until that changes I have no interest in trading past noon.
Noon is sort of like Cinderella's midnight--that's when the chariot turns back into a pumpkin.Yeah, I would do the same at times. Wake up at 2 am my time to trade the first hour or so of Europe. But it wears you down. I found myself not nearly as sharp then during U.S. hours.
Ya gotta trade whatever hours are best though. If you are getting the good trades from 7-10:30 then stick to it. It's not about trading the whole session, it's about putting on the trades where you have an edge/your strategy works best. I trade from the open of RTH in each market until about noon edt. The volume and volatility has been drying up right at lunch time/European close. Until that changes I have no interest in trading past noon.
Noon is sort of like Cinderella's midnight--that's when the chariot turns back into a pumpkin.
Exactly. Lunch time has always been somewhat quiet. But usually after things would pick up after. Seems not so much anymore. As much as I would like to trade the whole session, no reason to.
Perhaps the markets are telling us something? Near old highs with a lack of interest. At a time of year which is usually active. That alone gives me pause.Exactly. Lunch time has always been somewhat quiet. But usually after things would pick up after. Seems not so much anymore. As much as I would like to trade the whole session, no reason to.
Perhaps the markets are telling us something? Near old highs with a lack of interest. At a time of year which is usually active. That alone gives me pause.
Yeah. I track volatility pretty close in each market. IMHO when it spikes you can trade much more of the session. But when it dries up/slows down it seems everyone is done after the first 2-3 hours of RTH. I trade the Ag futures (Soybeans,Wheat,Corn), and their volatility has plummeted with the huge decrease in price. I used to trade them until right near the close. These days if I don't have a trade by 11 am I just shut it down in them. Even the 30 year bond futures are done with any real moves by 11:30 or so for the day.
Not as much fun money sloshing around in commodities. Makes me wonder if equities can be far behind. Trying to keep an open mind, as usual. I've fallen in love with my own ideas too oftenYeah. I track volatility pretty close in each market. IMHO when it spikes you can trade much more of the session. But when it dries up/slows down it seems everyone is done after the first 2-3 hours of RTH. I trade the Ag futures (Soybeans,Wheat,Corn), and their volatility has plummeted with the huge decrease in price. I used to trade them until right near the close. These days if I don't have a trade by 11 am I just shut it down in them. Even the 30 year bond futures are done with any real moves by 11:30 or so for the day.
Not as much fun money sloshing around in commodities. Makes me wonder if equities can be far behind. Trying to keep an open mind, as usual. I've fallen in love with my own ideas too often
Yeah, it goes hand in hand with volatility. Commodities trade in cycles. Right now with all that's goin on in China (growth slowing) and over supply (Ag markets) the prices got decimated and interest is gone. At some point they will turn around and get active again. Will need some kind of big rally/short covering to wake things up. Until then for me there's no reason to trade them as much, if at all.