New Strategy for a New Trade Time

Beginner Questions
1

So I have a question that involves that time in which you are trading…not time frames but hours of the day available.

I have been trading live for almost 2 years and my first year was done whilst working 12 hours nights (Central Time). Normally, I was trading best between 11 to 1 at night. At the end of the Aussie market. Now that I have started working 12 hour days using the same methods I am doing nothing but losing money.

My question is do I have to start from scratch now that I have a new time frame? Are all my old trading strategies mute?

( My new times are either 7-9 pm everyday or 7-11 every few days)

2

my advice would be to look at old charts and compare those timeframes. Volatility is important and perhaps you should trade differently indeed. It’s hard to say though as we don’t know how you trade. Do you use indicators and base a strategy on that. Or do you trade price action and S&R ? Trading based on price action should already give you many clues about volatility and what should and would work in certain markets.

3

Based on your working schedule, trading daily may not be the choice for you. You may want to think about think about trading longer time frames, as well as diversifying financial instruments. For example, if you only trade FX, aside from spot FX, look at currency ETFs and depending on your risk/comfort level, options on currency ETFs.

1 Like
4

Thanks guys,

I kinda knew I needed to switch things up but I was beating myself up and not the wanting to admit I need to restart. I stopped blaming myself and decided to move to day trading in the 2pm to 7pm time frame. That being said I used to have FXCM before our great government pushed them out. They moved me to FOREX and I HATE IT. I need a new trade system as well…one with a phone app.

Any recommendations there?

5

I think thats great advice