Hello everybody. Does anyone have any suggestions for a pair to trade in the evening in the US? A full time job puts me out of the best market hours for most of the majors, so possibly a pair with good liquidity that thrives in the Tokyo session? I usually trade from about 7pm EST to 12am EST. Any advice would be greatly appreciated:)
Thank you.
tomurtle
After looking at some of MP’s threads and trying to find the slots, it looks to me that most everything moves well from 1am est to about 8am (EST). The rest of the day seems to be sideways movement.
EUR/JPY is not a bad choice for the Asian session, or GBP/JPY, but GBP/JPY has a much wider spread.
Market is normally moving sideways during the Asian sessions. It looks like you don’t want to hold position overnight and be in and out by 12 AM EST. Euro-Yen pair should be able to provide you with enough movement to get in and out during the time frame, but it can be risky and spreads are normally wider during the Asian sessions as well.
Have you considered a set and forget method that you set up your order to long or short with predetermined take-profit and stop-loss? That way, you don’t have to glue to the screen all the time and with the preset take-profit / stop-loss, you can leave the order open and be able to get enough sleep for the next day. On the Oanda and InterbankFX platforms, they even let you set up the time when the orders should expire. For example, after you enter the order, and you can set the order to be expired at 7 AM EST if it is not filled.
Try googling, Set and Forget Forex, on google. There are some good ideas out there. Also a good site to visit is Forex-Strategies-Revealed dot com.
Good luck and all the best 
Oh, by the way, I thought there was a Cowabunga MT4 expert advisor somewhere. I saw it on the forum before. If you like Cowabunga, you can use the expert advisor to trade for you on MT4 platform. Brokers like InterbandFX, Apari, etc. use MT4.
Kind of funny to see this 2 questions in the same thread. To tumortle, I understand what are you feeling, Im also working full time, so I have to trade just 2 hours per day, almost the last 2 hours (EST), I cant leave EUR/USD even sometimes when I have time in the mornings, are the pairs I know.
Thanks guys. I think I will give EUR/JPY a try. I tried AUD/JPY and it seems to be nice and trendy, but maybe a little sparatic at times, probably due to low liquidity. The system I use is similar to James’ IB strategy, with a couple modifications. I would prefer to monitor my trades, or at least be around to watch price action while entering and exiting. I do however have an exit strategy when I cannot be near the computer, which consists of measuring my stop loss and multiplying it by 2, then setting my limit order twice as far as my stop loss. Antone have an exit strategy they really like?
tomurtle