Major Trading Sessions Hours
One of the questions we get asked quite often is what are the best times to trade?
The best times are when there are two or more major markets open at the same time.
The next question is where do I find that information?
In this article we will share with you a good source for this information that is easy to find and use.
Go to forexfactory.com
On the top menu click on “Market”
Scroll to the bottom of the page
Look for a box titled Sessions
Click on the Guide menu icon at the top of the Sessions box
By clicking on the Guide box you will be taken to a very good explanation of how to use this Sessions box.
Check out the video to see more.
March 12th, 2012Consistency In Trading
There are traders that try and guess when the market might move. The bad thing for them is that
they are right once in a while. They are wrong just as often so it becomes wasted energy.
Set a trading schedule, this will make your life easier and your trading better. Some good times
would be around the time news is announced.
Be careful of the increase in spreads and the spikes in price at news times. Just wait a few minutes
until things settle down. Then trade based on your trading systems entry signals and setups.
They may come right away or take some time but the proper high probability set ups will come.
Never let your largest loser exceed your largest winner for the day. Be patient with the entries
and impatient with the losers. Trade the same way on every trade. Find the proper set up,
confirm the set up, take the trade. Always set your stop loss and take profits. Manage your
trades the same way.
Just trade at the same time in the same way each time your trade. Do not try to outguess and
out maneuver the market. Consistency will help you to be a winning trader.
Being consistent in your trading will take a great deal of the stress and emotion out of your trading.
You can learn more about consistency in trading by using our Launch Pad and Nth Degree
trading systems. Our free Jump Start trading strategy will give you an idea of how our trading
program work.
March 9th, 2012Day Trading vs. Swing Trading vs. Position Trading 3 of 3
Position Trading:
Position trading, also known as ‘trend trading’, can best be described as a ‘buy and hold’ method.
Positions can be open for a few days, a few weeks, a few months or longer. They are also held
during periods of minor retracement with the expectation that they will eventually continue trending
in the desired direction.
The Week, Day, and 4hr, time frames are usually the charts used when position trading.
Reasons traders’ trade this style advantages:
• The most forgiving type of trading
• Small mistakes are more easily absorbed
• The size of profit can be huge
• A high number of position traders become profitable
• Less stressful than intraday or swing trading
• Can make larger profits with smaller trades
• Easier to predict the market and follow the trend
• Less time consuming than other methods
Reasons why not to trade this style disadvantages:
• Trades remain open for extended periods of time
• Have to wait to take profits
• Patience is a must with position trading
• There is inherent risk in keeping positions open over night
• It is quite possible for drastic changes to occur in the market while you sleep
• Traders can experience significant drawdown
• Psychologically position trading can be a challenge until you get comfortable with it.
Position Trading Summary:
Position trading can be more profitable than any other type of trading. You will need the most
amount of patience. You get paid to wait with this strategy. With the larger time-frames a trader
will have a better chance to make the most money.
Which style appeals to you?
We would say that all method of trading have their own levels of risk. The way a trader trades
determines the risk. Trading long term with the trend is really the most profitable. Trying to
predict what will happen next hour is much more prone to a variety of fluctuations than what
will happen next week, if a trend is well established.
We feel that a combination of swing and position trading can be a profitable combination.
Throughout the course of a position trade you will need to use swing trading for your add
on trades.
As for which is more or less profitable, in our opinion the fact that day-trading has such a
high failure rate makes the other options more viable and hence, more profitable for the
majority of traders.
Day Trading vs. Swing Trading vs. Position Trading 2 of 3
Swing Trading:
Swing trading is typically a short to intermediate term trend following system lasting
anywhere from 1 to 30 days. Traders who swing trade typically look for trend reversals
& retracements for their entry/exit points.
The 4hr, 1hr, and 30 min, time frames are usually the charts used when swing trading.
Swing Trading
Reasons traders’ trade this style advantages:
• Less time involved in actively trading
• It is not necessary to ‘babysit’ your trades
• Can be worked around a regular job
• A couple of hours per day should suffice
• Less stressful
• Higher success rate than day trading
• The market has room to move and recover
Reasons why not to trade this style disadvantages:
• Moving to larger time frames can be frightening
• Some traders have a tendency to develop emotional attachments to a trade.
• You will need to develop more patience and discipline
• Have to learn how to keep your emotions in check
• You will need more money management skills
• Have to get used to setting larger stop loss and the take profit points
• You have to learn how to trade more currency pairs
• Have to learn how to manage several trades at a time
Swing Trading Summary:
Trading more currencies, having more trades on at once, gives you better opportunities
to make more money. You need to have swing trading as part of your trading if you want
to trade full time and make a living at trading.
Day Trading vs. Swing Trading vs. Position Trading 1 of 3
Day Trading vs. Swing Trading vs. Position Trading 1 of 3
Day vs. Swing vs. Position Trading – Which style do you use, and which style SHOULD you be using!
Over the next three postings we will go through a simple explanation of each:
Day Trading:
Also known as ‘Intraday’, positions are usually entered & exited within the same trading day. Obviously scalping fits into this category. When traders start trading they usually begin with day trading because they feel they may miss a few pips when the market moves.
The 30, 15, 5, and 1 minute time frames are usually the charts used when day trading.
Reasons traders’ trade this style some advantages:
- You can make more traded per day
- The results of your decisions are determined faster
- Makes you ‘Feel Good’. Can be a rush!
- Allows you to always be actively participating in the market
- Positions are closed out overnight so unexpected market changes will not affect the bottom line.
- You can get more experience in less time
- You will get the feeling that you will not miss out on a move
- You feel that you can get in a trade sooner
Reasons why not to trade this style disadvantages:
By some estimates less than 1% of traders become successful using this method.
- It is time consuming
- Very difficult to trade properly if you have a full-time job
- Fast paced and can be very stressful
- Can get whip sawed in short term movements in the market
- Can be harder to predict the market
- Even a small mistake can result in a loss
- Have less time to make trading decisions
- More likely to develop addictive behavior (gambling)
- More likely to try and get even with the market
Day Trading Summary:
This is a great way to get a lot of experience in a short period of time. You can learn your trading system faster. The more trades you can make in a shorter period of time the more comfortable you will feel about trading and your trading system. This is a stepping stone to the larger time frames. You will usually make less money using this strategy.
« go back — keep looking »-
Social Links
