AUS based trading (AEST)

Beginner Questions
1

Hello all,

What are some favourable trading zones and pairs for those who live on the east coast of Australia?

As the NY open/session is what excites me, am I bound to trading from ~1am (local time) in order to catch this zone or are there other zones which can have similar price movements with a more forgiving local time to trade?

Much appreciated.

-TRH

2

If I were in your shoes, if I don’t want to trade NY, then my only choice is either trade Asian or London session.

For Asian session pairs, anything related AUD, NZD & JPY but avoid AUDNZD as it tend to range most of the time.

For London pairs, you can trade pretty much anything but avoid AUDNZD, EURGBP, EURCHF, & USDCAD for the same reason. They tend to range most of the time.

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3

yes - the London open - certainly well traded in Sydney etc. - is 5 hours earlier than the NY open, which should surely be easier for you?

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4

Alright that sounds like something I can do my research on.

Thank you.

5

@flamingoproxy

Yes absolutely - the London puts me around 6-7pm. The earlier kill zone will help greatly.

What pairs would you recommend looking into?

Thank you.

1 Like
6

that’s good: the first 2 hours of London are the highest-volume/best part of the day for forex (the first 2 hours of NY are next-best, though)

it’s personal preference, though I agree with everything @icebear2 said above

highest liquidity means lowest slippage and spreads, so I suggest EUR/USD and GBP/USD and AUD/USD

  • i would avoid GBP/JPY on which retail traders collectively do worst (by far)
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7

As Pipsteroid recently commented to me … something I already knew… !

(Retail “trades” aren’t actually in “the market” at all, A1ien, they’re only bets against a counterparty.) Yes the broker

Liquidity is a problem when your trying to buy a large amount of an asset on the stock market etc… not “taking a bet” and slippage is where their just too busy laughing at how much money they are are going to take of you when they widen the SPREADS both ways to stop you out…
just a few of a retail brokers favourite quotes to make a few extra bucks.

:slight_smile:
He he…

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8

Unless you use a fixed-spread broker, of course - but I’m sure you already knew about them. :grinning:

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