What Hours Do You Keep ?

[gamma]

I find most of the movement or sufficient move occurs from 7 am to 10 am (forex) I do not trade anything else.
if you prepare yourself for this time period you should average at least 25 points a day
times that by your stake and you are done for the day.
then go to the gym, have lunch out,read and answer posts on t2w, whatever you want.
After all that is why we took up trading for a living I believe

 

[gooseman]

is everyone on here punting for themselves then?

 

[gamma]

is everyone on here punting for themselves then?

I am not sure what you mean please elaborate

 

[gooseman]

you don't have an employer....

 

[gamma]

Ah!
Gave up my employer 19 years ago.
and have had a wonderful time since.

 

[nkruger]

Ah!
Gave up my employer 19 years ago.
and have had a wonderful time since.

Me to.

I've been self employed for 19 years, but these are the best hours I've kept for a long time. Wish I'd done it when I was 25 !! Although to be fair, Babbage was still working on his computer idea then, so no WMA's and Stoch Divergence to help me on my way....

Also my weekends start at 1:30pm Friday sharp. No Questions. :clap:

 

[gamma]

Also my weekends start at 1:30pm Friday sharp. No Questions.

could'nt agree more
Stop trading Friday afternoon.
Don't start again till Monday morning
keep your weekends free
I don't even read the financial pages weekends.
You should have a complete break from trading over the weekend.

 

[gooseman]

I'd be inclined to disagree with the above. You can't trade anyway but there's nothing wrong with keeping ahead of the news before the open on Monday given the effect certain articles can have on the markets. King in the Yorkshire Post perhaps....

I also find Friday afternoons interesting as people hedge/trim/square positions over the weekend and show their hand somewhat.

 

[nine]

Consider then that I knock of Friday afternoon ... and my Friday is over before yours really starts. And my Monday is your Sunday

If you're purely technical like me then news is only important in the sense of "don't get caught out by the xxx announcement." I do read the financials in the weekend but more to get a sense of how the other girls and boys are explaining it to themselves - entertainment not work. Gives the MBA some meat to contemplate.

Then again, 20 minutes is a long trade for me.

 

[gamma]

I'd be inclined to disagree with the above. You can't trade anyway but there's nothing wrong with keeping ahead of the news before the open on Monday given the effect certain articles can have on the markets. King in the Yorkshire Post perhaps....

I also find Friday afternoons interesting as people hedge/trim/square positions over the weekend and show their hand somewhat.

My reason for not trading Friday afternoon is simply that I don't like to think about trading over the weekend( besides her indoor's has threatened dire consequences if I turn on my work station )
And stops you getting caught in gap ups or downs.

 

[mp6140]

In an attempt to cut down on my hours in front of the screen(s), I would like to hear from other members, detailing their most productive (in their opinion) hours trading - whatever indices, forex pairs etc are traded

I have been trading full time for only 6 months or so, (footy/cable mostly) and I usually start around 7.30am and pack up wearily between 6-7pm, with a break for lunch/exercise around 1pm (usually just exercise) Obviously, concentration is an issue when spending so much time looking at the charts, so less hours will probably mean better productivity ??

What do y'all think ?.

at one time i would play the london open thru its close, which is approx 3am - 12 noon, EDT ---- this is the MOST active time, short of the US open when london is going full steam ahead.

It was truly great for the account, as that much momentum and volitility was tremendous, as were the returns but along the way ive stopped doing that, have returned to trading the NY open thru to noon (ET) AND then take the noon reversal and play that to wherever my support and resistance and bols are showing me a good exit (or the 50% fib -- whichever comes first)

the noon reversal is played (or just left) depending on what i may wish to do, until the rollover at 5pm, at which time i may simply play THAT reversal or let the reversal take out any "floaters" i have for the day.

at midnite, i place my overnite trades (off the H1 or H4) read or recreate and then decide its time for me to become an "overnite" also !

the wonderful part of the market is i can take ALL of these times, or ANY PORTION as i choose. Ive reached a point where equity and the number of lots traded more than compensates for when i reduce my "monitor time" for any reason.

in the winter, when my girls are at school, i tend to work longer hours but when theyre home in the summer, it reduces my hours tremendously, as does the McGivers who are in bikinis (or less) constantly, always giving me a reason to leave the monitors and go play !

i guess 4 hours would be enough to really take care of business !

mp

 

[gamma]

A lot of posts here about how people spend numerous hours in front of their monitors very few about why?
There is something to be learned from the ones who explained why they spend shorter periods of time in front of their monitors.
There isn’t constant news about particular stocks or currencies or bonds that you might be interested in, the only reason I can see for spending such a long periods of time in front of a monitor is scalping, or waiting for a setup to come about.
As I write this I have finished for the day I have made my 30 points on the euro/usd.
I will shortly get ready and go to the gym.
This thread has given me an idea I am going to start a thread called the 20 point thread where I will broadcast my trades( refer to the thread for for full details )and hopefully contribute positively to the general good.
Good Trading All

 

[shadowninja]

My hours have changed since I now swing and no longer day trade. I do watch the markets from about 9am until 1am BUT I am doing other things eg playing games, practicing the piano, shopping, teaching martial arts, training, etc. So, total time spent dedicated to trading per day may be around 1 hour split into 2-3 minute sessions when I might place an order, move a stop or work out the trend. Strangely, I have become more profitable, too.

 

[nkruger]

My hours have changed since I now swing....

You swing ?

What days do hold your parties ?

 

[rathcoole_exile]

Once I get round to upgrading my laptop (to one with wifi!), I will probably spend many days climbing at a local climbing wall (they have free wifi). My plan is to become more and more lazy.

make sure you put a strap on the laptop, it will be a nuisance having to keep descending and re-ascending everytime you drop it !

 

[shadowninja]

You swing ?

What days do hold your parties ?

Sorry, ladies only invites being given.

 

[nkruger]

Sorry, ladies only invites being given.

oh well...

worth a try

 

[mp6140]

A lot of posts here about how people spend numerous hours in front of their monitors very few about why?
There is something to be learned from the ones who explained why they spend shorter periods of time in front of their monitors.
There isn’t constant news about particular stocks or currencies or bonds that you might be interested in, the only reason I can see for spending such a long periods of time in front of a monitor is scalping, or waiting for a setup to come about.
As I write this I have finished for the day I have made my 30 points on the euro/usd.
I will shortly get ready and go to the gym.
This thread has given me an idea I am going to start a thread called the 20 point thread where I will broadcast my trades( refer to the thread for for full details )and hopefully contribute positively to the general good.
Good Trading All

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gamma PLEASE stop using the word SCALPING as doing that is long past being possible for ANY trader -- the correct term is FLIPPING.

back in the mid 90's when the markets were not in decimals, many of the vanguard of the ELECTRONIC market "scalped" a stock by buying BETWEEN the bid and ask because of the FRACTIONAL manner of pricing stocks.

we were eating the specialists lunch, and they got really ticked about it, leading to the SEC instituting DECIMAL pricing and raising the amount one had to have in equity in their accounts !

When that was done, the decimal pricing effectively ELIMINATED the ability to trade between the bid and ask, and so SCALP slowly slid beneath the waters and has never been seen again !

NOW, why I spend more hours than you in front of the monitor ----- first, im probably much older with far more responsibilities than you. I have enjoyed the fun and foolishness and now its LETS GET SERIOUS TIME !

I can certainly appreciate your pride in 30 pips, but with my responsibilities, a few hundred only scratches the surface, and while i dont really count pips, I believe 650 or so was done on a decent day recently !

I take long term, intermediates and flip all the timeframes in one day --- part of the reason is thats what im paid for and part is for my own personal satisfaction, as I see forex as a 3 dimensional chess game whose really tough side is remembering what each trade is supposed to do and simply letting it do so !

now, i cant say im average for this site, although i figure im average for professional traders, but i dont spend EVERY second in front of the monitors, but do wander back and forth, looking for effective trades and at different times of the day, because of the reversals !

shucks, i even go shopping, to the movies, buy pipe tobacco (actually, thats sent to me), entertain the McGivers, DO NOT go to the gymn because im beatifully "buffed" for a man of 104 and most of the things we humans do every day (EXCEPT travel to work and pay those horrid gas prices)

i may be a tad different than others though --- first off im a Yank, and you know how WE ARE !!!!
and i sadly believe i have an addiction to CRT monitors !

enjoy and trade well

mp

 

[nkruger]

I probably sound very 'British' and slightly dim when asking this, but...

Who are the McGivers ?

 

[mp6140]

I probably sound very 'British' and slightly dim when asking this, but...

Who are the McGivers ?

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my avitar is showing one of them at the moment -- after a while, ill put up the other

let us say they are rental accessories !

lol

mp