choosing a pair

If you don't know where to start, start here! Don't be afraid to ask questions.

Moderator: moderators

User avatar
newark18
rank: 500+ posts
rank: 500+ posts
Posts: 515
Joined: Thu Mar 11, 2010 3:32 am
Reputation: 0
Real name: James
Gender: Male

choosing a pair

Postby newark18 » Wed Mar 31, 2010 1:35 am

I have many currency pair options when I trade during the morning hours because there is a lot of volume everywhere. But once 12pm est hits, the volume drops off considerably. What do you trade from 12pm est to 12am est? I just want to get an idea of which currency pairs are worth trading at different times. Thanks.
Failure is an opportunity to learn.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
newark18
rank: 500+ posts
rank: 500+ posts
Posts: 515
Joined: Thu Mar 11, 2010 3:32 am
Reputation: 0
Real name: James
Gender: Male

Postby newark18 » Wed Mar 31, 2010 1:41 am

Also, does anyone know where I can get an indicator that shows the highs and lows of the day, week, month and year? Thanks.
Failure is an opportunity to learn.

User avatar
bredin
rank: 1000+ posts
rank: 1000+ posts
Posts: 1032
Joined: Mon Feb 16, 2009 10:41 pm
Reputation: 0
Gender: None specified
Contact:

Postby bredin » Wed Mar 31, 2010 2:00 am

TRO_plot?

I think thats the one that can be used to plot info like that.

as to the first question, during the asain session you could trade EJ, GJ, AJ or EA, all of which have ok movement at that time of day. Id say EN as well but the spread might be too high for you :)

G.
Welcome to the era of "Guns and Maskies" Trading!
The previous message contains discretion. Viewer nudity is advised.
Insanity Industries Indicators Here
Insanity Industries on YouTube!

User avatar
newark18
rank: 500+ posts
rank: 500+ posts
Posts: 515
Joined: Thu Mar 11, 2010 3:32 am
Reputation: 0
Real name: James
Gender: Male

Postby newark18 » Wed Mar 31, 2010 2:20 am

tro plot looks like what I need. I'll try it out. Thanks.
Failure is an opportunity to learn.

User avatar
Patch
rank: 500+ posts
rank: 500+ posts
Posts: 941
Joined: Sat Jan 06, 2007 6:13 pm
Reputation: 0
Location: Virginia
Real name: Jeff
Gender: Male
Contact:

Postby Patch » Wed Mar 31, 2010 3:13 am

newark18

It sounds like you are in the EST zone. I suggest you put your line in the water when the fish are hungry. Just because you or I want to trade, doesn't mean it is a good time to be fishing. You get a couple hours in the morning, then the lunch break, then a couple hours leading to the NY close. Three hours later Tokyo opens.

If you try to fish when the fish aren't biting you will lose your bait nearly every time.

Patch
InVA
EDT
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

User avatar
bredin
rank: 1000+ posts
rank: 1000+ posts
Posts: 1032
Joined: Mon Feb 16, 2009 10:41 pm
Reputation: 0
Gender: None specified
Contact:

Postby bredin » Wed Mar 31, 2010 4:07 am

patch is right,
dont trade "the gap" between NY close and T open.

G.
Welcome to the era of "Guns and Maskies" Trading!
The previous message contains discretion. Viewer nudity is advised.
Insanity Industries Indicators Here
Insanity Industries on YouTube!

User avatar
newark18
rank: 500+ posts
rank: 500+ posts
Posts: 515
Joined: Thu Mar 11, 2010 3:32 am
Reputation: 0
Real name: James
Gender: Male

Postby newark18 » Wed Mar 31, 2010 12:02 pm

It seems that, after checking volume, that 8-11am and 8-9pm are the best hours to trade. There is also 3am in the morning. Any different thoughts? I am mainly looking at EJ, GJ, EU, AU. But I am open to more.
Failure is an opportunity to learn.

User avatar
Patch
rank: 500+ posts
rank: 500+ posts
Posts: 941
Joined: Sat Jan 06, 2007 6:13 pm
Reputation: 0
Location: Virginia
Real name: Jeff
Gender: Male
Contact:

Postby Patch » Wed Mar 31, 2010 1:35 pm

newark18

From the looks of it you are in the Eastern Time Zone. I don't recall the volume though there is often good movement in the 7-8am EST or now EDT.

I like the GBPUSD also because it tends to trend a lot. With the London overlap with New York, look at Eur, Gbp, Usd kinda pairs. In the evening look at yen pairs. If you want to be a zombie trade the London Open at 3am.

Patch
On Time
InVA
Attachments
snap559-FX market open times.gif
snap559-FX market open times.gif (27.43 KiB) Viewed 320 times
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

User avatar
newark18
rank: 500+ posts
rank: 500+ posts
Posts: 515
Joined: Thu Mar 11, 2010 3:32 am
Reputation: 0
Real name: James
Gender: Male

Postby newark18 » Wed Mar 31, 2010 2:15 pm

Thanks Patch. You are always helpful.
Failure is an opportunity to learn.

User avatar
newark18
rank: 500+ posts
rank: 500+ posts
Posts: 515
Joined: Thu Mar 11, 2010 3:32 am
Reputation: 0
Real name: James
Gender: Male

Postby newark18 » Wed Mar 31, 2010 9:02 pm

Does Tro_plot work correctly? After I put it into my chart, the daily high and the weekly high are below current prices.
Failure is an opportunity to learn.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “beginners forum”