Firstly I’d like to say this website has been extremely helpful in getting my head around Forex. I have only become interested in Forex over the last couple of weeks and have purchased the downloadble PDF of the School of pipsology and am currently working through it.
I have some questions if thats ok?
I have opened a demo account and was wondering when the best times to trade for an Australian would be? I have noticed there are some Aussies on the forum and was hoping they could shed some light.
I would be more interested in trading at night but I’m not sure what the optimum times are for some one in Adelaide Australia. I thought I would detail the times I can trade to see if anyone could tell me what would be the optimum times from the times I am able. I would concentrate on the AUD/USD
The times I can trade (Adelaide Australian time) are as follows:
Sun, Mon, Tues - any time
Wed, Thurs - after 7:30pm
Friday - during the day until 5pm
Saturday - during the day until 5pm and sometimes all day
If someone could point me in the right direction it would be much appreciated.
I think choosing the best time to trade is highly dependent on your trading strategy. Especially for scalpers and day traders looking for price volatility.
For example, the GBP/USD is more volatile in early to mid European session while the USD/CAD pair shows more price movement toward the start of the US session.
Swing and Position traders are not nearly as bound to a daily session as they are holding trades.
Is there a particular currency pair you strategy is focusing on?
I am in NZ (GMT +12) so I also trade any Japanese crosses but at 8pm local time London opens, so an hour after that European crosses start to move quite a bit.