Which Market?

[wheezer]

Hi all! I'm a trading enthusiast from Australia.

A few years ago I traded the S&P500 for about six months. I had a good time with it, but the main problem was my edge required me to trade the first hour of CME open. Where I live, that's 1-2am!

I'd like to get into scalping again. But I'm looking for a more around-the-clock market(s) to trade, so I don't have to worry about the time difference. I'm very new to what markets are available. I got a demo account with Mirus on Ninja, and Zen-Fire is feeding me only the main indices. I just had a look at the ES at 6am-Chicago time and it's very quiet, choppy and narrow.

I'd like to settle in a market that is active through the US night for my Aussie days. Are there futures that are good to trade in the early morning (it wouldn't necessarily need to be a US market)? Is crude oil/corn markets liquid enough overnight? Or is FX my only real option for trading the early hours of the US morning?

Also, for whatever market you suggest, do you know of a broker who can offer a demo/sim? I'd like to start watching a market and mechnically test high probabilty scalps.

Thanks for your help! :cheesy:

 

[Jason Rogers]

Hi all! I'm a trading enthusiast from Australia.

A few years ago I traded the S&P500 for about six months. I had a good time with it, but the main problem was my edge required me to trade the first hour of CME open. Where I live, that's 1-2am!

I'd like to get into scalping again. But I'm looking for a more around-the-clock market(s) to trade, so I don't have to worry about the time difference. I'm very new to what markets are available. I got a demo account with Mirus on Ninja, and Zen-Fire is feeding me only the main indices. I just had a look at the ES at 6am-Chicago time and it's very quiet, choppy and narrow.

I'd like to settle in a market that is active through the US night for my Aussie days. Are there futures that are good to trade in the early morning (it wouldn't necessarily need to be a US market)? Is crude oil/corn markets liquid enough overnight? Or is FX my only real option for trading the early hours of the US morning?

Also, for whatever market you suggest, do you know of a broker who can offer a demo/sim? I'd like to start watching a market and mechnically test high probabilty scalps.

Thanks for your help! :cheesy:

Hi Wheezer,

You mentioned that your best trading in S&P futures was from 1 to 2am your time. One advantage with FX is that it trades 24 hours a day, so you can choose what currencies work best for the time of day you want to trade.

Trade Profitability by Currency Pair and Time of Day

Past performance is not necessarily indicative of future results.
​

The graph above is in New York time, but from it you can see that daytime hours in Australia tend to be conducive to FX trading particularly in GBP/USD and USD/JPY.

Welcome to the forum

Jason

 

[wheezer]

Thanks so much Jason! That graph of currency pair activity over the day is super helpful!

Might be time for me to drop price index and take the plunge into FX. I've set up MetaTrader and a demo account with Oanda, and am going to start going through babypips' School of Pipsology. I'll also delve in to these forums.

Thanks again!