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)… ?
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.
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
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
I’m in the same boat. If you’re trading the daily chart, Australia is perfectly situated. You can put in your trades in the morning before going to work etc.
If you your good enough who cares about going to work… go to the beach everyday and come home and trade, thats the best thing about living in OZ. Its a traders dream.