Dilemma

Ok, so I'm having a bit of a problem I hope the good folks of T2W may be able to answer.

So basically, I'm stuck in the EST time zone for the foreseeable future. I also work full-time from 5:30am to 3:00pm (which includes commuting time). I am also pretty much a day trader since longer-term trades just baffle me at this point in time.

All that said, my effective times for trading are thus the Euro session around 2am up to 5:30am, the last hour of US session, and the Asian session from around 6/6:30 to 9pm to account for prep time and getting ready for the next day.

This means my options are quite limited to get in that precious screentime. Either I get up early and get in maybe an hour or two, or settle for an hour or two of the Asian session which barely moves these days. The US close is out of the question since I'm still a bit high from the day's work, and I'd have to hurry to get prepped.

So, is there any market or instrument out there at all that would be feasible to trade or at least good enough to get some screentime exp. while adhering to the above constraints? I don't care what it is so long as it's liquid and provides an adequate measure of experience.

I'm just looking for ideas here. Any at all would help!

As you know I'm in the same time zone as you which has been downright awful for volatility for the past 6 months or so especially in forex. I've been trying to catch the last 1/2 of the euro session but it's just not always feasible.

You might want to look into trading Asian equity indexes or even shares. They should be active during that time period. For myself I'm not really that motivated to bother so I'll just wait it out. The forex market will eventually cycle out of this. Try here for some info to start: Asia-Pacific Stock Indexes - Bloomberg
If I do decide to bother I'll let you know how it goes.

Also, you can try trading only on the days where there is significant news events/financials due out during the Asian session for JPY, AUD, CNY (affects AUD prices) and NZD. Use this calendar to determine dates and times that show as 2 or 3 stars of importance. Economic Calendar | ForexLive

Good Luck!

Peter

I also had sort of an idea of trying out Asian futures/shares. I think I'll look into it seriously now since it might be the only feasible time zone to trade for me. Or stick to news since that stuff is pretty volatile.

Thanks as always, Pete! It does help.

But hell, if anyone here thinks trading Indonesian Corn CFD contracts or whatever is where the good stuff is, I'm willing to listen!

VielGeld said:

I'm just looking for ideas here. Any at all would help!

Click to expand...

tricky dilemma.

there are some markets which as you know are more fruitful than others at certain times of the day. the one i was familiar with was STIRs - specifically european mkt spreads and the first 1-2 hours (mainly 1 hour for me- so 7am gmt time) was imo the best time to make money in, i wld trade other mkts also though as the spreads on these were a bit haywire. this was over a year ago though so not sure how the opens are now - maybe some current STIR traders can chime in. it is a market which you do need a lot of screen time initially to be confident in trading opens - so not sure how ideal this is for you.

re asian markets - i know a lot of traders in Asia/Oz still only trade european mkt times. is this a common phenomena? surely asian mkts are good mkts to trade?

interesting to see what others suggest. GL.

VielGeld said:

Ok, so I'm having a bit of a problem I hope the good folks of T2W may be able to answer.

So basically, I'm stuck in the EST time zone for the foreseeable future. I also work full-time from 5:30am to 3:00pm (which includes commuting time). I am also pretty much a day trader since longer-term trades just baffle me at this point in time.

All that said, my effective times for trading are thus the Euro session around 2am up to 5:30am, the last hour of US session, and the Asian session from around 6/6:30 to 9pm to account for prep time and getting ready for the next day.

This means my options are quite limited to get in that precious screentime. Either I get up early and get in maybe an hour or two, or settle for an hour or two of the Asian session which barely moves these days. The US close is out of the question since I'm still a bit high from the day's work, and I'd have to hurry to get prepped.

So, is there any market or instrument out there at all that would be feasible to trade or at least good enough to get some screentime exp. while adhering to the above constraints? I don't care what it is so long as it's liquid and provides an adequate measure of experience.

I'm just looking for ideas here. Any at all would help!

Click to expand...

any life in Yen moves against the majors in Early Asian ?

N

VielGeld said:

Ok, so I'm having a bit of a problem I hope the good folks of T2W may be able to answer.

So basically, I'm stuck in the EST time zone for the foreseeable future. I also work full-time from 5:30am to 3:00pm (which includes commuting time). I am also pretty much a day trader since longer-term trades just baffle me at this point in time.

All that said, my effective times for trading are thus the Euro session around 2am up to 5:30am, the last hour of US session, and the Asian session from around 6/6:30 to 9pm to account for prep time and getting ready for the next day.

This means my options are quite limited to get in that precious screentime. Either I get up early and get in maybe an hour or two, or settle for an hour or two of the Asian session which barely moves these days. The US close is out of the question since I'm still a bit high from the day's work, and I'd have to hurry to get prepped.

So, is there any market or instrument out there at all that would be feasible to trade or at least good enough to get some screentime exp. while adhering to the above constraints? I don't care what it is so long as it's liquid and provides an adequate measure of experience.

I'm just looking for ideas here. Any at all would help!

Click to expand...

>>>> since longer-term trades just baffle me at this point <<<<

The solution is staring him in the face but this clown will dig deeper to deepen the apparent FAMINE.

Bulltein Boards = where the 95% losing community is.

Same sh*t different board, different day.

Make your family happy, give up trading and focus on your day slave job in peace.

deadbroke said:

>>>> since longer-term trades just baffle me at this point <<<<

The solution is staring him in the face but this clown will dig deeper to deepen the apparent FAMINE.

Bulltein Boards = where the 95% losing community is.

Same sh*t different board, different day.

Make your family happy, give up trading and focus on your day slave job in peace.

Click to expand...

The only sh1t here is coming from you with your mega thousand points offsides trades, zero discipline, stupidly telling followers to continue to hold in the face of total disaster, and unwillingness to admit you were wrong on a trade. How about taking your own advice and give it up.

Peter

Ninja Trader 7 - data download via Market replay connection - YouTube
How to use Market Replay in NinjaTrader - YouTube

Ninja trader market replay might be worth a shot for simple screentime.
As for live trading, you could use your restriction to your advantage and
focus on quiet, rangebound tape scalping.

rsh01 said:

[...]

re asian markets - i know a lot of traders in Asia/Oz still only trade european mkt times. is this a common phenomena? surely asian mkts are good mkts to trade?

interesting to see what others suggest. GL.

Click to expand...

I could look into STIRs, though probably not at that time -- it would be 2am here, lol.

I would be interested to see if anyone can answer your Q as well.

NVP said:

any life in Yen moves against the majors in Early Asian ?

N

Click to expand...

Sure, if you count 10 pip ranges over 2 hours to be "life".

Case in point, last night's action on Eur/Jpy:



Utter ****! Not even worth sitting there to watch.

Compare and contrast with, respectively, the Euro and US sessions:





Quite the difference, eh?

deadbroke said:

[...]

Make your family happy, give up trading and focus on your day slave job in peace.

Click to expand...

While agreeing with Pete, I would like to address this point.

1) Longer-term trades utilize a different skill set and market understanding. If you asked me to forecast whether the Euro would be up or down a couple years from now, how the hell would I do that? You can just as easily say the Eurozone is willing to let the "failed Euro experiment" collapse as the Eurozone is fearful that such a collapse would cause chaos. So who knows what's going to happen here.

Swing trading has me interested, at least, so I might give it a shot.

2) Overnight risk. I'm not sure I'd be willing to accept this.

3) Trade length implies I can't be there at all times to monitor the trade. I can't just set TP and SL, and walk away since price might move to 1 pip from TP, reverse, and hit SL all while I was away. Not sure I could take that.

4) How to determine potential for a swing trade? For short trades, momentum can carry you, or certain patterns just stand out from the rest and you know you can bank on these. I find it dubious that I could extrapolate these into longer trades.

Also, fundamentals? Technicals? I've lost all faith in these staples, so I couldn't use them. "Fundamentals" are rigged as far as I'm concerned, and technicals are price derivatives (not to mention a false retail Grail) so why not just watch price? More power to those who see value in these.

It might just be my lack of screentime speaking, but I find day trading off naked charts to be easier.

Liquid validity said:

[...]

Ninja trader market replay might be worth a shot for simple screentime.
As for live trading, you could use your restriction to your advantage and
focus on quiet, rangebound tape scalping.

Click to expand...

Thanks! I do have NT somewhere on my comp, so I might as well give the fictional markets a shot.

I also actually like the quiet rangebound tape scalp idea. I've noticed quiet periods are almost invariably range-bound as you say, so might be worth a shot. I presume this is best done with futures, yes?

-----

Keep it coming! Loving the suggestions so far.

VielGeld said:

Ok, so I'm having a bit of a problem I hope the good folks of T2W may be able to answer.

So basically, I'm stuck in the EST time zone for the foreseeable future. I also work full-time from 5:30am to 3:00pm (which includes commuting time). I am also pretty much a day trader since longer-term trades just baffle me at this point in time.

All that said, my effective times for trading are thus the Euro session around 2am up to 5:30am, the last hour of US session, and the Asian session from around 6/6:30 to 9pm to account for prep time and getting ready for the next day.

This means my options are quite limited to get in that precious screentime. Either I get up early and get in maybe an hour or two, or settle for an hour or two of the Asian session which barely moves these days. The US close is out of the question since I'm still a bit high from the day's work, and I'd have to hurry to get prepped.

So, is there any market or instrument out there at all that would be feasible to trade or at least good enough to get some screentime exp. while adhering to the above constraints? I don't care what it is so long as it's liquid and provides an adequate measure of experience.

I'm just looking for ideas here. Any at all would help!

Click to expand...

I second the Australian/New Zealand markets option
I am including here both currency pairs against USD/JPY/EUR.... many times they have nice moves during their sessions as they news are released .... as one poster already said

VielGeld said:

I could look into STIRs, though probably not at that time -- it would be 2am here, lol.

Sure, if you count 10 pip ranges over 2 hours to be "life".

Case in point, last night's action on Eur/Jpy:



Utter ****! Not even worth sitting there to watch.

Compare and contrast with, respectively, the Euro and US sessions:





Quite the difference, eh?



While agreeing with Pete, I would like to address this point.

1) Longer-term trades utilize a different skill set and market understanding. If you asked me to forecast whether the Euro would be up or down a couple years from now, how the hell would I do that? You can just as easily say the Eurozone is willing to let the "failed Euro experiment" collapse as the Eurozone is fearful that such a collapse would cause chaos. So who knows what's going to happen here.

Swing trading has me interested, at least, so I might give it a shot.

2) Overnight risk. I'm not sure I'd be willing to accept this.

3) Trade length implies I can't be there at all times to monitor the trade. I can't just set TP and SL, and walk away since price might move to 1 pip from TP, reverse, and hit SL all while I was away. Not sure I could take that.

4) How to determine potential for a swing trade? For short trades, momentum can carry you, or certain patterns just stand out from the rest and you know you can bank on these. I find it dubious that I could extrapolate these into longer trades.

Also, fundamentals? Technicals? I've lost all faith in these staples, so I couldn't use them. "Fundamentals" are rigged as far as I'm concerned, and technicals are price derivatives (not to mention a false retail Grail) so why not just watch price? More power to those who see value in these.

It might just be my lack of screentime speaking, but I find day trading off naked charts to be easier.



Thanks! I do have NT somewhere on my comp, so I might as well give the fictional markets a shot.

I also actually like the quiet rangebound tape scalp idea. I've noticed quiet periods are almost invariably range-bound as you say, so might be worth a shot. I presume this is best done with futures, yes?

Click to expand...

Ninja market replay function isn't fictional, its just historical, thats all.
Ninja allow free download of replay data for ES and NQ, YM and a few others if I'm not mistaken.

Also you can set Ninja to record any data feed for market replay use later on as well.
Probably best with futures yes.
Futures open up the possibility of out of hours currency tape scalping.
Either that or the usual suspects of ES YM etc in the morning / afternoon lull.

Still very much worth looking into swing trading as well, although I'm the same,
got hacked off with the overnight / weekend holds and associated open gaps...

I'm in Asia and I avoid the Asian stuff.

I think 3pm EST is a good time to daytrade US index futures. There's lots of action in the last hour. You'll need to prep in the AM and then do a quick catch up when you get home.

After 4:15pm EST, pretty much everything dies. ES/CL doesn't really pick up until London opens. In terms of your AM, you can probably get away with trading ES or CL at 4am onwards, much earlier than that and it's dead.

I'm sitting here at 1AM EST, I have my screens up but I'm not even considering trading right now, I actually prefer to start at 9:30 AM EST because that's when the liquidity is there. I avoid the Asia markets mostly because of my presumption they don't have the liquidity but perhaps I should look again...

wackypete2 said:

The only sh1t here is coming from you with your mega thousand points offsides trades, zero discipline, stupidly telling followers to continue to hold in the face of total disaster, and unwillingness to admit you were wrong on a trade. How about taking your own advice and give it up.

Peter

Click to expand...

Another live one who lives in the building - get a job, moron. The odds are overwhelmingly against your nanosecond chart trading.

Rule 1 (for bulletin boards only): > 3000 posts = confirmed LOSER = gives advice

deadbroke said:

Rule 1 (for bulletin boards only): > 3000 posts = confirmed LOSER = gives advice

Click to expand...

Totes agree. Loosers!

deadbroke said:

Another live one who lives in the building - get a job, moron. The odds are overwhelmingly against your nanosecond chart trading.

Rule 1 (for bulletin boards only): > 3000 posts = confirmed LOSER = gives advice

Click to expand...

Rule 2 (bulletin boards only): Upon entry into a board quickly isolate the large volume posters.

EliteTrader.com = a fellow named Lucrum

MoneyTec = a fellow name MickMason



Rule 3 (for bulletin boards only): There may be at most just one or two nuggets in 5 years worth of bulletin board total posts. Is it worth it for an aborning trader to ferret out said nuggets of information? YES, but it requires a person of particularly intemperate disposition to perform such a filtration process for it is akin to REVERSE OSMOSIS filtration.

yay, they all teh loosers

BTW, Deadbroke how many points offside is your euro position trade now?
What happens if the solution to the euro problem is not complete failure, but the alternative of:
1 / Ejection of piigs.
2 / Two to four tier euro wide monetary policy (may allow Piigs to stay).
Throw in all the scandinavians joining with that new stability, where does that leave your euro trade then?

None of the above may happen, the euro currency may indeed go down the chute.
Point is no one knows for sure how the end game will play out, including you...

You talkin to me?

I'll take my looser status over his 1000 point offsides trades anyday!

Peter

deadbroke said:

Another live one who lives in the building - get a job, moron. The odds are overwhelmingly against your nanosecond chart trading.

Rule 1 (for bulletin boards only): > 3000 posts = confirmed LOSER = gives advice

Click to expand...

And yet you are the one with the massive losses, margin calls, account blow ups, etc...

Peter

who me?
No I was talking to deadbroke
That was a bit:
Taxi Driver Scene - YouTube
:cheesy: