Getting Up Really Early To Trade

Fundlord

Fundlord

After watching "Trader" with Paul Tudor Jones, there is a scene where he wakes up at 5am to trade currency/gold.

Anyone do this and find it advantageous ?

Is there an edge in watching the market in the early hours when Asia closes ?

Talking about 24 hour markets obviously.

5am NY time is only 10am London time :)

I have woken up at 8am London time to trade and usually the big daily move is about to happen.
 
I have a client that lives in the midwest, yet seems to start trading around 5 am est. You get the european order flow and movement. He trades options on many futures.
 
I trade forex on eastern time. I get a nap in the afternoon before Australia opens, then I get really fucked up and pass out. And get back up again at 4 or 5 am, two hours late. And then I get a nap again before Australia opens.

It's 21:30 here right now, so that tells you what part of my schedule I am involved in at the moment.
 
I could never do that. I don't get much sleep, never had. But, I always wanted to have a beginning and end to my work day. I traded US options markets. Got to work around 7:30/8am est to get set up and ready for the day. Then my day ended around 4:15 pm est, home for 6 pm dinner. I was also married young so I had other priorities.
 
rmorse said:
I could never do that. I don't get much sleep, never had. But, I always wanted to have a beginning and end to my work day. I traded US options markets. Got to work around 7:30/8am est to get set up and ready for the day. Then my day ended around 4:15 pm est, home for 6 pm dinner. I was also married young so I had other priorities.
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same here when I was trading ES. Got up early, took a morning walk, cleaned the screens, and was ready to go on the open. Mercifully it all ended at 16:15, and I took an afternoon walk, took a shower, made a healthy dinner and bet $10 on some televised sporting event and was asleep by midnight.

But I was young and married back then
 
Having done a bit of Asian session trading I can tell you that its not worth the time unless you're planning on trading Asian markets. The real volume doesn't pick up until around 0300-0400ET, atleast for the stuff I pay attention to.
 
I'm old and married..still. I became a member of the AMEX at 23 years old and started my own business at 24, just after I got married. Had my daughter at 27 years old. Making money was never my priority, but a necessity. I loved trading and working for myself.
 
rmorse said:
I'm old and married..still. I became a member of the AMEX at 23 years old and started my own business at 24, just after I got married. Had my daughter at 27 years old. Making money was never my priority, but a necessity. I loved trading and working for myself.
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wow, you are old. My job when I was a kid after my paper route was to spread the paper out on the living room floor and read to my father the price of his Consolidated Edison, which traded on the AMEX back then.
 
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