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Work Smarter, NOT Harder

Work Smarter, NOT Harder 2017-05-18T21:31:14+00:00

Stop. Think.

Plan. Act.

You can trade NextGen Trinity at almost anytime of day and trading session but remember the more the market is moving the better.

  • Trade in whatever time that the currency pair is normally active.
  • The only time you do not want to trade at all from the NY close until the Asian open.

Trade the pairs when the trend is active and smooth

What time of day do you trade right now?

Take a moment and write down the times you trade and what the characteristics of those times are. If you are not sure you could use mine or begin taking notes of the times when you are trading.

I trade mostly during the NY session. Here are my notes as an example.

My preferred trading times and descriptions of those sessions are like this:

8:30am – 9:50am EST (never trade from 9:10am-  9:30am)

  • Big quick moves with all NY traders coming in and data releases.
  • In and out type trading taking profits quickly.
  • Always close positions before 9:50am

10:30am – 4pm EST

  • Normally one or two smooth trends take place during this period making for ideal trading conditions.

I simply trade 8:30 to 9:10 and 9:30 to 9:50. I then take a break to 10:30am.

9:30am is the opening of the NY stock market. The twenty before the opening, the time I am suggesting not to trade, price will almost always without question retrace whatever move was happening from 8:30 to 9:10 and then at the 9:30am (NY stock market opening) that push will continue for usually 15-20 minutes until 9:50am when I suggest to stop. At 10am is also (8:30am is the other) a data release time so for the 10 minutes before positions are closed and squared up by traders. Best to stand aside to 10:30am when things have settled down and the rest of the NY session (until 4pm est) is usually smooth trading with one trend or two trends taking place. If there are two trends the first ends sometime between 10:30-11:30/45am. Either from 10:30am on in NY trading is pretty smooth without any sharp knee jerk moves.

* Never trade as soon as you get to your computer and ready. First focus on what the market is currently doing. Stop, think, plan, and act.

This will likely be different for European and Australian traders.

For example, Aussie traders could trade the London open on the majors and Euro pairs, which would normally happen around 4 – 6pm AEST (ideal for most guys who work a 9 – 5 job and just want to come home to trade for a couple hours). Or they could trade the Aussie pairs during the Asian session (in the middle of the day). As long as it follows the main concept, ie, to trade the pairs when the trend is active and smooth.