Who here has ever traded at night for an extended period of time? It's basically turning your biological clock upside down and I'm wondering how people handled it. Did it have any negative impact on your personal life? On your health? For instance, if you live on the east coast and want to trade the euro you'd have to be up at 2am to prepare and then trade from 3am until probably noon or so. Then you'd have the afternoons free, but that's when everyone is at work. You wouldn't be able to do any early evening "after-work" type activities because you'd probably need to be in bed by 6pm to get your 8 hrs in. Sounds like a lonely lifestyle...
I wish I could trade at night. If I could ever devise a system of stop based trend following that actually worked in these markets, I'd gladly do my research at night, set the orders, and sleep in.
I've traded at night for over a year now. I'm in Bangkok and trade US Futures so with a current 12 hour difference between here and CT, night is day for me. First, I have never been happier in my life, I'm much calmer and even my blood pressure which was creeping up is down to normal again. Why? I've always been a night person and all those years of getting up early to go to school and then later work was the biggest pain in the posterior imaginable. Weekends and holidays I used to sleep late as a treat, now I sleep late every day and it is glorious. I wake up at noon to 1.00 p.m., sometimes earlier if I want to get something done. First meal is lunch, then it's whatever from study, prep, errands and so on. Next meal is dinner before the markets open, then it's in front of the computer until the markets close. This is going to change soon as I shift from day trading, but that is a different story. After the markets close, write up data etc, then have a snack (like a very light breakfast), chill with the morning newspaper that gets delivered around 4.15 a.m., then shower and sleep by 5.30 a.m - 6.00 a.m. I'm flexible about lots of stuff, so if I miss a nice breakfast (eggs, bacon, sausages, the works), I'll have that at lunch time or dinner time. Social life is OK, I start my out-on-the-town days at 4.00 p.m. to 6 or 7.00 p.m., whatever, I'm in no hurry as the joints close late and I do not need to sleep till the wee hours anyway. Only time it gets tough is like Christmas lunch at a friends place, then I have to make an effort to get up early. Other than special occasions, friends understand I am a late starter. Only darned thing I miss is my Friday nights out. Somehow having my first beer at 4.00 a.m. on Saturday morning at home just does not feel the same. As compensation I do get Sunday nights out since the markets do not open until Monday night for me, and I can always goof off on Monday afternoon if I like. Haven't exercised for a while, feeling a little guilty about that, but the best time is usually immediately after waking up - gets it out of the way and then I can eat and work etc without interruption. It's not a big deal, just be honest with yourself about the kind of person you are and if it fits go for it.
I do not trade at night. Volume is low, and I'm off the clock! I think most who do trade at night are oversea traders, not so much US night owls.
I trade forex 24 hours a day. I trade until I can't stay awake and then sleep until I can't stay asleep. Might be day might be night. One night had been up about 12 hours and was planning on going to sleep after NFP. I made it to 8:25 and just shut off the tv and computer and went to sleep. I get in patterns. Sometimes for about a month I'll wake up at 22:00 and trade until about 7:30 and take a nap.Other times I'l get in the habit of sleeping from 01:00 to 05:00. But most of time I don't really do what most people call trade. I watch and enter a few orders now and then and reposition. For the most part I am a hermit, but if you work the nightshift what really messes you up is Sunday dinner with the family or an evening Birthday party. Most traders would be better off if they slept more and traded less. More money has probably been lost in the stock market between 12:00 and 16:00 than any other time.
there is an American tradition in the old black community started by restaruants who served jazz musicians getting off work at 3:00 am. They (like most men) looked forward to dinner after work, but by the time they got to the restaurant it was almost breakfast time, so the cooks just put "Fried Chicken and Waffles" on the menu.
nothing better though than after a good night going out and mingling with miserable people going to work and thinking to yourself (I'm probably the only one in here who has already made $xxxx.xx today.)
I have always been a night owl and reasoned that as long as I get adequate sleep, I`m good, but apparently, it matters WHEN you sleep as well. Google "circadian rhythm" Personally, I would not do it long-term and I`m fighting my own impulses and habits these days to get back on a more normal clock. Read this: http://www.sciencedaily.com/releases/2008/04/080409205727.htm
Quote: Past research has shown that irregular sleep patterns and shift work take a toll on even the healthiest person over an extended period. It's shift work and irregularity that disrupt circadian rhythms. I have it down regular as clockwork, and I reckon it's my natural sleep-wake cycle. I could never eat a proper breakfast in the morning before work; always start getting really hungry mid-afternoon onwards, that's when I start to be really sharp. Early rising for work really took its toll on me. Finally, I am doing what comes naturally.