Well... let's say that's correct but I had hoped by now I'd instead be asking about good times to trade. Unfortunately--not yet. I had sent something to eoddata.com during the week about where their 24-hour stuff was hiding. I didn't get anything back. So perhaps to usher in further confusion, what would be a good source for getting some FX 24-hour, 1-minute tick data for the past few months? It doesn't look like eoddata is going to be useful here.
There was an article recently that suggested that most FOREX retail traders were range traders and everyone looks for the most active times which tends to be trending times. The range bound times are 2pm to 6am EST. I do not have data to back this up but I have been doing more trading in the slow hours looking for ranges and it is successful so far (small sample). As far as liquidity, is there ever a time of day where FOREX isnt liquid enough for a retail trader? I dont think so but correct me if Im wrong.
no, not really as long as you are trading the major pairs, but most of us consider 00:00 to 10:00 et to be the most active, but that doesn't mean the most trendworthy. Average hold time according to the people that study it is 8 days, and that is what my average hold time is.
Well I got the official response back from eoddata: they only have forex data for US daytrading hours, whatever that means. It seems to be 9AM - 5PM, some time zone (EST?). I guess my next question then is who is a good forex historical data provider for 1 minute ticks?
can't help you there man, start a new thread and ask in the title, in the meantime open a demo account
The best hours are 0700-1600 GMT but watch the chart at 1600 because this is often when big auto trades are done by Funds and the market can move quite well then. Always watch the Forex market from 0800-1000 when good moves frequently start.
hey Rocko, I saw your new thread, maybe that dukas will work for you, I know nothing about it. Hopefully you will get some more replies good luck don't be shy, you may have to bump it, all it taKes is a thank you to put it back on top of the list