Market Timing

[Jonathan]

As I learn more about the currency markets, a lot of it seems to be about timing. For example, I haven't made many trades today, but the couple good setups I took ending up just getting shaken and stopped out.

I guess that would be because we're at a market timing lull? Like certain hours of the day are tradable and others are not, right?

Would anyone mind giving some general guidelines of what hours to trade, because some hours are not worth it.

Thanks,
Jonathan

[techno791]

I wish I had an answer for you. But I just felt like posting instead.

Recently, I've decided to take the slow times to look at longer time frames. Try to get a feel for longer timeframe trades. I'd rather debate getting into a 4hour to 3 day trade when nothing is moving and then take my plan, then try to figure all that at London Open when everythings moving for short trades.

Like the equality market. At open and pre-open I'm looking for big news movers. In the afternoon or noon, or whatever, I'm just going through all the PR's for future events, dividends, or play games. Compartmentalize the day. If it was like London Open 24/hours a day, you'd think it'd be nice, do it whenever, but some of us will never leave and burn out. No time to collect your data/thoughts!

edit: on the other hand. If you're working on the weekday business day, it's very disappointing. Except for set and forget trades, what can you do????

[i_am_so_siri]

well obviously the most lucrative hours are morning and closing.

[Jonathan]

Good point.

And it may just be me still getting calibrated to the Forex candles.

Hmm, and just in the past couple hours my EUR/USD and AUD/USD trades failed... but my USD/JPY long has got me 5-6 pips so far... so it seems as Tokyo opens and really gets going it trends more... although anyone notice the Aussie doesn't make much of a trend while Syndey is open?

[techno791]

Well, I'm almost or at a sell signal for the AUD/USD looking for 10 pips maybe as it's not a very wide ranging pair. We'll see how that goes. On the 30min I got a box formation though.
Trying to scalp when the movements aren't any bigger than a normal spread isn't all it's cracked up to be.

And I don't know what's going on in Sydney. New Zealand papers talk about their currency, but where's the fluidity. I guess they have no need to really do a lot of action.

[Jonathan]

Originally Posted by techno791

Well, I'm almost or at a sell signal for the AUD/USD looking for 10 pips maybe as it's not a very wide ranging pair. We'll see how that goes. On the 30min I got a box formation though.
Trying to scalp when the movements aren't any bigger than a normal spread isn't all it's cracked up to be.

And I don't know what's going on in Sydney. New Zealand papers talk about their currency, but where's the fluidity. I guess they have no need to really do a lot of action.

Yeah, well I tried shorting the AUD/USD and lost 4 pips. Not a big deal, but I'm still developing my noise-weeding tools.

That being said, all this Forex stuff is starting to clear up my mind even more on how to daytrade stocks. All one big snowballing learning process.

[techno791]

Yea, AUD/USD is only 4 pipslower now than my last post. I'm hoping it breaks the box. Not a real 'quick scalp' with the spread and speed of movement, but COME ON!

[Jonathan]

Originally Posted by techno791

Yea, AUD/USD is only 4 pipslower now than my last post. I'm hoping it breaks the box. Not a real 'quick scalp' with the spread and speed of movement, but COME ON!

To HSM live chat techno?

We can whine about the Aussie together.

[iiiqqqeg]

All hours r tradable in different ways

[Jonathan]

I'm having a problem KEEPING pips now. I seem to just break even... up 10... down 10... etc...

Maybe that'll be fixed with practice.