Forex - Best Times to Trade

[michal.kreslik]

You're welcome, Jeff.

I'm sure the ability to communicate with the fellow traders and share ideas freely is the single most important condition for becoming a successful trader.

As there are lots of "liberal" trading forums on the internet, this is the only one that doesn't endorse any particular product or service as this forum is not sponsored in any way from any third party. I guess this is the reason why traders like and visit kreslik.com - no one gets banned for discussing a particular platform or service since there's no "inner competition".

Michal

[Niagara]

JimmyJ... every morning when there is economic news, they hand out "free money" to those who know how to grab it.

I note that you listen for economic news at 8:30 AM EST. Any advice on what you are looking for IN the news that gives you an edge during that trading day?

[michal.kreslik]

Once the news is out, there's no edge to be gained out of those news.

You would have an adge if you knew what the news were BEFORE they came out.

Michal

[TheRumpledOne]

You don't need to know the news before it comes out to have an EDGE!

All you need to do is trade what you see.

If price going up, go long and if price going down, go short.

Now, if you are not greedy then you'll make your pips.

[michal.kreslik]

You don't need to know the news before it comes out to have an EDGE!

That's perfectly true.

Anyway, Niagara was asking:

"what you are looking for IN the news that gives you an edge"

and the answer is that you can't gain any edge from knowing what's the news when it's no more a news, because it's already happened.

Your edge must then be built upon something that's not directly related to the information that's contained in the news itself unless you know what's the news before the news comes out.

Michal

[Niagara]

I guess you really do not have to listen to the news, just try and jump onto a trend whether it be forex or stocks or commodities/futures.

[TheRumpledOne]

For stocks, if you have a really fast news feed, you can get a jump on other traders.

But if you trade the same instrument day after day, you just do what the chart tells you to do.

[4x=0]

I get up between 4 - 4:30 am AZ Time.

I usually quit after hitting my daily goal.

I wait for the economic news which is usually at 5:30 am AZ Time.

If I am trading well, done by 6 am AZ Time.

At 6:30 am AZ Time the US stock market opens and it's time to MILK THE COWS. Usually done by 7 am AZ Time.

Then I have plenty of time to code and test indicators or do other stuff.

I usually spend the day on campus and get to my screen around 1am, Texas time.

This way my setup has been developing while I am doing other things during the day/evening and is then ready for my attention. Then I usually stay up till 3 or 4am, then sleep, wake up, repeat if necessary.

once i can, i'll travel to europa and do this same thing at a reasonable hour.

i play 4 hour charts for the purpose of time management (not a joke) so i do not trade every day/night, but always watching.

I don't use any tRO or Micahl indicators; it is not required to be succesfull

[TheRumpledOne]

So tell us, 4x=0, what is required to be successful?

[4x=0]

So tell us, 4x=0, what is required to be successful?

what do you qualify as successful tRO?

for me tro, a simple system. dedication. patience, dicipline are required to be successful

for you, trading every day and showing others how to trade everyday makes you successful i believe.