I’m still learning (not even demo trading yet), but want to start getting a feel for the charts and fundamentals for the currency pair I will plan to trade on.
I work until 3pm EST, so getting home at 4pm EST means I miss out on the highest volume times.
According to the Babypips couse and the advice at:
It seems like what is described as the “[B]Tokyo Session[/B]” may work for me. This is listed as from 7pm-4am EST
I won’t be up until 4am in the morning of course, but if I can find a way to trade between 7pm-11pm EST (perhaps holding onto positions overnight if needed with a stop loss and profit targets, depending on what trading methods I will decide to use), I think this may work (?)
I wanted to get some feedback on if this makes sense (looking for trading opportunities for just a few hours a day), and which specific currency pairs have the most volume during the “Tokyo Session”
Any of the JPY pairs (especially USD/JPY) will have the highest volume during the Tokyo session, but it really doesn’t make sense to me why you’re doing intra-day trading if you only have a couple hours per day to trade.
Since you’re limited on time have you considered trading higher time frames such as 4 hour or Daily charts? That would solve your problem…
Yes still learning still not sure what time frame I’ll trade on, probably I’ll use those couple of hours to look for good opportunities to enter a trade, and then with stop losses and profit targets in place I assume I can automate the exit?
Of course I’ll probably keep an eye on any open trade as much as possible and adjust my stop loss if I’m doing well, but having the stop loss and profit targets in place in case.
Does that make sense? Is this called Short Term trading?
