Best times to trade for people based in Australia?

[nedo]

I have noticed that a lot of people have been saying that the asian session is the worst to trade, as the range is low and there is little movement/ volatility. It seems that the Euro and US session are when most people are trading.

I want to be where the money is. Does this mean that I have to become a night owl and sleep during the day?As I am based in Australia.

Or could I perhaps trade the Euro open session ( 4:00pm aus)... ?

Im so confused, I need some advice...Im such a noob

[wmorris3825]

The euro open would be your best bet. That's where the most volume comes from so it gets moving. I trade the overlap of Europe and us, but being in the us that's in the morning for me. That's probably late at night for you.

[nedo]

Cheers mate,

Yeah I heard over lapping sessions are the best to trade.

[Nick McDonald]

We trade 24hrs per day, but the bulk of positions are opened during the start of the London session when the volatility kicks in.

I'm also based in Australia, so the London session is great because it starts after work.

[nedo]

I also this best time to trade is closing of NY and opening of London session, there is much more in this time duration.

Hey Steve. Are you based in Australia??
If so what is your schedule like...

I was wondering whether people trade an hour or so during the over lapping sessions. Is there much perpetration before hand?

[Cyco]

Depends on what time frame you are trading over.

I trade on daily and weekly charts and so trade around NY close (whilst having my breakfast) and work off the close of the candle with a plan to hold trades for days/weeks/months.

If you think holding a trade for more than a few mins is a long time then you are better looking at the London/NY sessions

[granty123]

in sydney

london is 5pm - 2am
NY is 10pm - 7am

best times

[Cyco]

granty, with daylight savings having ended in the eastern states of Australia NY close is now 6am

[philmac]

London Open by far, this occurs at 5pm. This is where most price action occurs and liquidity gets really deep. This is my favourite time of the day !

[Tassiefx]

Hi Nedo,
I am Australian based (Tassie) and don't worry about the Asian session much. I use VSA as my tool in trading and it is best for VSA in London and start of NY. I look probably from 1830 through to around 0130 Tues to Thurs.

Doesn't suit everyone, and I know I am burning the candle at both ends, but seriously want this to become my full time income, so the commitment to it is very worth it

My method, or more to the point, the one I am learning is pretty good where I check 1hr candles initially, so I know well in advance if a trade is going to come soon, so I am not glued to the screen the whole time.

Good Luck with your journey. I hope it becomes fruitful for you