I haven't had any real time to trade due to the fact that a lot of my Wall Street peers lost their jobs over the last couple of weeks.  I feel like I've taken over at least five other people's work.  It's scary when you look around the room and it's about half as empty as it used to be; at least that's what it feels like.  I have to look on the bright side; at least I still have a job.  

I'm finding that the best time for me to trade is during the Japanese session but beginners beware, it's not a pretty time to trade in my opinion.  It may be the best time for me to trade but I still won't do it.  I feel like the price just seesaws around in a small range without ever going anywhere.  You really have to wait until the European session opens before you get some volatility.  My evolution as a trader has gone like this in order from past to present:

1. Trading around the clock.  Trade at 8 am, 11 am, 6 pm, 3 am, whenever!  Gave this up.
2. Trading the Japanese session because that's when I had time to sit down and concentrate on the market.  Gave this up.
3. Trading the European session because the GBP/USD has some nice moves between 2 am and 5 am EST.  I gave this up too because I   just couldn't get to bed early enough.  I also tried to wake myself up out of a dead sleep with alerts and alarm clocks but this only lasts so long before you just get tired of it.
4. Trading the US session between 7am and 10am.  This is what I'm left with but of course it's when I'm pressed the most for time.  If I'm not sitting in front of a chart at 7 am, I'm probably not going to be trading the rest of the day. 
   

Anyway, happy trading. 

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No. 1 : Trader

The best time to trade forex is when there is volatility or momentum. This afternoon, for example, I made about 50 pips on the GBPJPY after seeing evidence of energy to the upside. That said, for the GBPJPY (the only currency I trade) the best time to trade is the London session early on, to around 2:00am, assuming you are a day trader.

Submitted by Greg Wilson • 2007-12-13 23:44:35

No. 2 :

Thanks for the tip Greg.

Submitted by Rich • 2007-12-13 23:52:05

No. 3 :

I have been through the same process you have Rich, the only way I have archived any modest success is with automation. I live in NZ and have a full time job, all the market action is happening overnight & I just cannot stay awake AND go to work.
This also comes from realizing what my biggest weakness is, I'm impulsive & find it difficult to be rational and calm when money is on the line, so I reduce it to mathematics and let the PC sort it out.

Submitted by Craig • 2007-12-15 12:55:05

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