Question about when to Trade Eur/USD

Discussion in 'Forex Trading' started by Robertwiz, Jun 9, 2011.

  1. Hello,

    I am interested in trading Eur/ Usd and am wondering the following:

    1. What time period specifically is best for trading Eur/usd ( the Euro? In other words, what hours do those who actively daytrade the Euro start and end their trading?

    2. What hours would you suggest for trading the various Euro Crosses on the 15 minute charts?

    3. Does the type of strategy you are using on the 15 minute charts, in terms of technical analysis determine when you should turn on the chart and platform so to speak?

    Any assistance or suggestions would be tremendously appreciated.

    Thanks
     
  2. bstay

    bstay

    The best time is the 3-4 hours between 2amEST to 6amEST, and second best time is 3-4 hours between 8amEST to 12pmEST. Of course EUR/USD pair is most popularly traded so price will move in all hours of the day. But if you don't want to be bored to death watching paint dry then those are the two intraday trading windows with increased volatility.

    Even though forex market is 24hrs, there is actually a "end-of-day" at 5pmEST, often called roll-over/settlement time. Liquidity dries up before 5pmEST until 7pmEST. Then 8pmEST is typically considered the start of Tokyo/Hong Kong/Singapore session, which is the 3rd busiest session after London and New York. Market will move on JPY and other asian news. In my own 15mins charts, I grey out 5pmEST to 1amEST and do something else.

    2amEST is when Paris/Frankfurt banks open and start of european session. 3amEST is London banks open and start of the most busiest forex session. 4:30amEST is often the GBP news release and 5amEST the CHF news release.

    6amEST is Paris/Frankfurt lunch time, 7amEST is London lunch time, and an hour before New York session so a good reason to take a break. Hence why I suggested trading between 2amEST to 6amEST for european session. Avoid any candlestick setup you see between 7amEST to 8amEST, they are usually manipulated and fake.

    8amEST is New York open, 8:30amEST USD news time, 9:30amEST US equities market open, 10amEST another USD news time. Around 12pmEST, New York lunch doldrums and at same time London markets close. So trade between 8amEST to 12pmEST for american session. I don't trade after 12pmEST simply because I'm tired after watching the London to New York sessions.

    You should have enough trade opportunities between the two prime windows of 2amEST to 6amEST and from 8amEST to 12pmEST. If you end up trading more than 10 hours a day, then you might as well get a real job. Only trade the most pristine setup and trade selectively, then enjoy the rest of the day.
     
  3. speres

    speres

    1. depends on ur strategy. from my pov, i trade price action, you can get set up any time of day on the 15m.

    2. obviously before london open through to us, as i say my setups can happen anytime

    3. no

    how you planning to trade them?
     
  4. 3mins audio on when to trade
     
  5. bstay's observations are very accurate and he's in a great location to trade from

    I'm on the west coast and the only benefit I have is trading an extra day - the markets
    open for me on Sunday afternoons
    I'm in the process of changing to a 'normal' start time, wake up at 7am PST since I
    can't properly cover the hours bstay posted. since I have no commitments I have the
    option to trade at any time during 8am to 11pm PST, however I'm also changing trading
    strategy to trade the 6E eurusd futures contract for just 10 pips. if there's a trend I'll
    take advantage of it, however my emphasis is on doubling contracts traded rather
    than maximum quantity of pips:
    1 contract $12.5 x 10 pips = $120 net. 80 contracts x $12.5 x 10 pips = $10,000

    additionally and because it costs less, trade Day-to-Days/Weeks with spot fx
    the time required to trade DtDs is about 5 to 10 minutes a day, maybe 15 to 30 on
    the weekend for additional analysis, and again the objective is to double mini-lots or
    lots traded
    the 11 day May23 to June 7 rally Close to Close range was 639 pips which would
    have provided for a double. the 3 day June 7-10 decline CtoC range was 342 x 2
    analysis and entry via M W D and 4H charts, channels and fibos
     
  6. Just to follow up on the already well written comments...

    If you want to look at volatility for any of the pairs (shown in a number of ways; i.e. hourly, daily, etc), check out: http://www.fxtsp.com/tools/volatility-charts.html

    I've used the site from time to time for quick reference. But again, it all comes back to what you looking to trade. The times frames in which you trade can largely impact your experiences and drastically affect your performance depending on the type of trader you set out to be.
     
  7. When NOT to trade? Just see this morning after 8:30am EST. :eek:
     
  8. bstay

    bstay

    I was lucky :)
    [​IMG]
     
  9. Yeah, that was a nice jolt on low volume. I'm short from the aftermath at the figure. Looking for further breakdown here as target was around 4340. My S/L is now 4390. There's been a ton of selling into the strength heading into this...and the reactions are only confirming that price action so far...
     
  10. siki13

    siki13

    OP should print this post out and close the thread
     
    #10     Jun 30, 2011