Trading from Australia

Hi Traders,

Anyone else trading from Australia? What’s your plan? What pairs move the most?

I’d like to trade the London and New York sessions intra day but I’m stuck with the Tokyo session. Boring. So my focus is on swing trading the daily charts on AUD/USD for now. But I’m slowly adding USD/CAD to my focus because these two are commodity currencies, which fit my personality.

Anyways, happy to hear from others who trade from Australia and the way you trade the Tokyo session.

Cheers

i see almost asian session. You will need to look out for those session pairs. which i don’t know what you are stuck at asian session?

Hi HonestDon.

Trading from down under are all your charts inverted?
I’m trading from the UK and the ink on all my charts runs because it rains so bloomin much here!
The only consolation is at 4 o’clock in the afternoon in winter here its too dark to see the rain any more…

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I am from Australia and I rarely trade the Asian Session unless I’m trading the Yen.

I trade the early part of the UK Session and later trade the first 3 to 4 hours of the US Session. It’s the best living in OZ but it’s the pits if you are a trader.

Cheers

Blackduck

You are so funny sir. I also have a kangaroo as a pet…

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I found those to be the best times too. But it’s hard when I have to wake up so early. And I have 2 small children that need attention from the time I get home to bed time. So that kind of blows up the London session.

I have the odds stacked against me! But it will figure out with your help.

What are the best pairs to trade? Anything with the YEN or NZD or AUD?

Hi HonestDon

Yes I understand because I found it really hard to trade when I was working as well. I found that I was taking silly trades that were not on as I felt that I need to trade in a very short window of opportunity. Once I retired and was able to take more time to evaluate trades then I became much better and thank goodness profitable.

It’s up to you what you trade but personally in the asian session if I trade I only trade the USD/JPY EUR/JPY CAD/JPY and the NZD/USD. I never trade the AUD against anything because I just never have luck with it. Just my personal opinion.

What type of trader are you?? How much study have you done?? You may have to consider position trading where you rely on daily charts. That way you only have to look at the charts once a day rather than every hour or so. Any questions I will be glad to try and help you out.

Good luck

Blackduck

I see you say you trade commodity currencies. Are you trading futures or FX??

Cheers

Blackduck

Of course you do! I just knew it!

Naturally you also wear a big hat with corks dangling from string round the brim while I wear a bowler and swing my rolled umbrella. Every day. And I say things like “Good heavens Carstairs!”.

I feel like more of a day trader. I know that sounds cliche but when I have a trade on, I can’t stop checking it and thats bad too! Even one of the tests I took on babypips, says I was a day trader. So maybe it makes sense. Although I should be a swing trader because of my lifestyle.

As far as my training I’ve read the usual: reminiscent of a stock operator & the new market wizards & trading in the zone. I have a few others lined up when I get a chance. Other than that, just youtube, reading and trail/error on a demo account. It’s not much but little steps everyday gets me a little closer.

I trade AUD/USD because I’m in Australia and it’s linked to China and IG Markets (my broker) have tight spreads - 0.6. Just been focused on this pair for a couple of months now just so that I can feel like I’m carving out a part of the Forex market for me. And just recently started looking at USD/CAD because it’s linked to Oil.

And thank you for letting me pick your brain. I won’t try to bug you too much.

I’ve read Trading in the Zone and its a great book. Another books to consider are the books by Al Brooks. They can be a little tedious to read but he gives you a good insight into Price Action Trading which I believe is the key to Day Trading Scalping and Swing Trading.

Good luck.

Cheers

Blackduck

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Fascinating guy. Price action is probably the closest thing you can get to what is actually happening.

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He knows his stuff. It’s just a shame he is a bit aloof

Cheers

Blackduck

What is it about these pairs that fits your personality? Is because not many trade these pairs so less likely to be minipulated by the big players?

Thanks

The reason I trade these pairs is because the JPY is the strongest asian currency and is the most likely to provide the necessary liquidity to provide a possible trade.

Hope that helps

Cheers

Blackduck

You are seeing all that pairs for sure cause timezone is set there anyway for that things so I hope you do understand all that. The only way probably is to reset some time on PC in BIOS or sort of ways out there and there you could see options later.