title says it. How important is it to trade a specific time session and pair for daytraders.
When we are questioning time trading, it can be either we don’t have time to monitor market or we are targeting a specific instrument or event.
If you have no time to monitor market or not a full time trader, in general you need to pick either Europe or New York session. Market gets more volatile during this time. You may easily spot good trading opportunities. Remember, more volatile equal to more risk.
If you are targeting specific instrument, you need to learn how the instrument reacts before and during particular session. Your aim will be optimizing profit you may have.
So if you’re questioning how important, it will be back to your condition and objective.
If trading is a side hustle, you have no time to scrutinize the chart, make it simple, trade only instruments those have liquidity at the time.
Thanks for the tips! Focusing on the European or New York sessions sounds like a good strategy for finding opportunities amid market volatility. It’s definitely key to align trading times with personal availability and instrument behavior to optimize results. Appreciate the advice.
I disagree with this if your trading plan adjusts your maximum funds at risk to any indicator expressing volatility (eg the ATR). More volatile equal to more opportunity.
It’s very important to trade a specific session and pair in day trading because it helps you focus on the best times and most active markets, increasing your chances of success.
You are correct. Volatility in the market is a double edges swords. I’m always emphasis the risk, since this is the most important part in trading. Everyone can take opportunities, they think of profit they may have. But not everyone can take the risk. Your statement is valid for experienced trader. For beginner, it will be a misleading.
You can compare Asian, Europe and New York session. The range of movement indicate potential profit. The number of swing indicate opportunities. Look at how often support and resistance are being swept out. Without proper analysis, the beginner stop loss can be hit easily.
About the usage of indicator, I just can tell every instrument has its own character, it makes certain indicator doesn’t work well. I’m trading 40+ instruments and every instrument utilize different set of indicators.
I agree, focusing on a specific session and pair can maximize your trade opportunities and improve your success rate. timing and market activity are key in day trading
Different trading families may have different volatility. It is more convenient for me to trade during the European session and only with certain trading pairs and on H1 and H4.