At one point my time for trading was very limited, but I was able to comfortably fit it in by trading the Daily time frame. By doing this you only need to look at the charts once a day, and trades can be placed using stop orders.
Hey im a breakout price action trader using end of day charts.
The time that i trade is just after the New York Close.
This is because i base my breakouts at closes of the day. In fact thatās the way it should be done. If you donāt do it like that you will end up trading whip saws
Always when the New York markets closes their is a good trading opportunity due to the fact that the liquidity in the markets is thin and trends get subsided.
A lot of my trading is entered off the Daily chart, these days. I scan for setups in the evening (UK time), the time varies but anywhere from 2000-2300, basically I want to see how the dayās bar is closing and enter via an order. I trade a lot of crosses, so orders often trigger while Iām asleep. I just cancel the orders if the trade doesnāt trigger within 24 hours.
So for my approach I just do an evening scan, which takes half an hour or so (less if I donāt spot any setups), and then manage any open trades during the subsequent eveningsā scans. Leaves the days nice and free!
ST
I will be damn! Thats exactly how I tradeā¦thought I was unique 
Just in relation to SimonTemplar
I trade end of day at the New York close. And my trading is almost complete and utter boredom. Im generally waiting for around 15 set-ups to form and breakout. It takes around 4 - 8 weeks for each set-up to form. I only trade at most 20 minutes a day just to update my set-ups and make sure they havenāt broken out.
Lol donāt worry about it - you can still be special without being unique!
Hi Daniel, I donāt know your timezone but it sounds as though conceptually weāre doing basically the same thing (although I prefer a bounce/reversal to a breakout): I often stalk a setup for weeks before it gives me what Iām after (or doesnāt lol!).
I donāt mind a jot if my trading is boring - I like the trading to be boringly predictable, I find that thatās the most lucrative way, then I can get my excitement with the proceeds.
ST
Yeah same. I like it boring too. In fact the more boring probably better, that means your being patient and waiting for the right moments to trade. Im always in a trade even if im not in a position since not being in a position is a position.
Yeah sounds like we are doing similar things. It takes weeks for my set-ups to form. Sometimes I donāt trade them since something came up that didnāt make it a seemingly comprehensible easy to understand trade.
I find that this way of trading is actually more interesting. Waiting in anticipation for a few weeks for a setup, which might even turn out to be untradeable. Plus, although I enjoy my chart reading sessions, I wouldānt want to be doing it throughout the day - I would find that boring.
Yeah definitely. I like my trading style being daily charts. Only trade foor 20 minutes after the New York close. After years and years it has become very consistent and my draw downs are small and seem to happen when the market is quiet and breakouts arenāt that strong. Sometimes the market is quiet and sometimes there are too many trades to trade. Sometimes I might be in only 1 trade others times to my maximum of 5 which is my limit based on my money management methods.
I spend a similar amount of time, maybe half an hour. I stick to the Majors, plus Iām very picky and my MM is quite conservative, so I donāt take many trades in any given month. Most of the time itās just a leisurely half hour looking at the charts, watching day by day as setups slowly unfold. No danger of making snap decisions.
Trading with the Major currency pairs is always safe since if their is any trend reversals we can get to know about it in advance and then we can adjust the trades accordingly.
Trading with a setup of good principles of Money Management will make sure that we are not over exposed as far as the risks of the markets are considered.
Also, trading the Majors gives you higher probability trades.
I completely agree. % risked per trade and % overall risk. Get these right - and stick to them - and regardless of what happens in the market, you will live to fight another day.
The majors t hat i am trading in the order of their preference are:
-
EURUSD
-
AUDUSD
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GBPUSD
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NZDUSD
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GBPJPY
But those arenāt all Majorsā¦ Not trying to be smart, but unless I am seriously missing something contributors on here would not assume that you trade those Pairs when you say you trade only Majors. Although I could be missing some vital piece of prior correspondence, more than possible! Common parlance on here - and elsewhere - says that there are only four Majors, and you only have two of them on your list.
ST
I thought the majors were EUR/USD GBP/USD USD/CHF and USD/JPY. imho AUD/USD GBP/JPY and NZD/JPY are crosses or comdolls or however you want to name each particular subset but i wouldnāt not consider them to be in the āmajorsā
About the majors/minorsā¦ Why not have a few minors who manly stabilize your unrealized p&l plus give you a basis for your short term trades? If you do it right you can carry trade a few minors (I currently have 3 carries), gather a little interest (hopefully enough to cancel out some of your non bearing interest trades) and make consistent daily gains off the majors (I trade 5 majors simultaneously) just a neat little tipā¦ I always trade my majors opposite direction of my carries (minors) so in the event my trades do bad, my carries go up and if my carries go down all my majors go up 
the goal being you want your carries to go down so that you continue to clear positive trades. This has been my current setup for a week or so. It works quite well so far!
On topic though, I like to check my daily chart 2-3 times a day. Around noon eastern time, 4 p.m. And after the Asian market opensā¦ So around 8 p.m.
The Majors:
EUR/USD
USD/JPY
GBP/USD
USD/CHF
USD/CAD
AUD/USD
NZD/USD
Source:
Currencies Are Traded in Pairs | What is Forex? | Learn Forex Trading
That should settle it.
Okay, I donāt agree with that list, plus you had GBP/JPY on your original list which is not a Major; I stand by my view that there are only four Majors (a lot of people refer to USD/CAD, AUD/USD and NZD/USD as Minors).
So not so much settled as letās agree to disagree.
ST
(EDIT: sorry assumed that you were the original poster, so correction GBP/JPY was not on [I]your [/I]original list, but rather Dominator4fxās list)
Sorry, I was being a bit facetious. Babypips got it wrong!
I know there is some disagreement as to which pairs are the Majors, and I think this stems from the definition of a Major pair ie. a Major currency crossed with the US Dollar. It seems that there are differing opinions on what constitutes a Major currency.
For the record:
EUR/USD
USD/JPY
GBP/USD
USD/CHF
In my opinion.