Journey to the Center of the Trading World

[KPcurrency]

I don't know if you have a job (other than trading) but I would try to at least trade the same time every day. You'll come to better understand and trade the idiosyncrasies of that particular time period. Don't trade at 8pm EST just because you're bored. Since the market is basically always open, we need to be careful not to over-trade.

Speaking of over- trading, autofx, the main reason I do not like always in the market systems, is because the market is not always moving.

[autofx]

I understand why traders stay away from the quiet hours -- I
guess that's why they're quiet hours, eh?

The market is not always moving, that's for sure, but sometimes
the quiet hours offer some very good entry points for longer-
timeframe strategies.

Those who want to capture profits in a short amount of time are
wise to exclusively trade during those times typically known to
have lots of action, obviously.

By the way, my strategies are not always in the market,
but I don't exclude as many time windows to jump on signals
as others do. I'm comfortable with it.

My trades execute automatically, so my selection of time windows
isn't based on when I'm sleeping or otherwise away from my
trading desk.

KPcurrency, I'm not suggesting you should deviate from your own
trading times. I'm sure you can do very well by sticking with the
early NY trading. That was my prime time once, and I liked it a lot.

[autofx]

Originally posted by KPcurrency
Even the 12-1 pm EST is a good time to stay out while the big boys are on lunch.

Yup, I agree. At least trying to enter and exit with any good
result during that time is usually futile.

[tim_nn]

Originally posted by astrosmurf er, what's that then?

Have a look at www.capitalspreads.com and click on the right where it says "Essential Guide". Will be a better explanation than I can offer!

[RealFX]

Originally posted by autofx


What amount of $ are you assuming gets lost on each stopout?

Well, at the most the full 1 or 2 percent.

On 700k tha'd be no more than 14k per trade, or total market exposure.

I'm probably generalising these guys systems because if a system trades 15 times a month vs 2 times it dramatically changes the $$ made (or lost) for that month.

But from what I can tell these guys play it mega safe and the have the capital to do so.

[RealFX]

Originally posted by KPcurrency
I don't know if you have a job (other than trading) but I would try to at least trade the same time every day.

Thanks KP, I will.

I do work during the day. I'm considering doing it in the FX industry, to help me learn to trade. Hence this thread

[graemenash]

tim_nn, do you use capital spreads for live trading?

I have a demo account with them but found the spreads to be too big and their quotes a little strange at times. The website seems to act up occasionally too?

I too "trade" forex using a spreadbetting account, but I use deal4free.com, I'm yet to find a better broker.