Time And Timing In Day Trades - Comprehending The Stage And The Perfect Times To Trade Futures And Forex

It is of supreme importance to understand the time that you choose to trade in and know what you can potentially expect at that time of day.

It is different for each instrument so it is imperative to learn market behavior for your particular instruments. I usually trade only 3 instruments the DAX, Euro/USD and the GBP/USD and am familiar with their action throughout the trading day. Other vehicles behave differently therefore I will only trade them (and I do occasionally trade S&P, WTI, , and other currencies) after I've examined their time related action.

Timing matters are not easy to decode and occasionally it's easier to buy a trading system, not so that you can follow it blindly but instead use it to supplement your own interpretation of the market. Always best to read forex trading system reviews. A systems I use regularly to supplement my decisions is forex rebellion. It fits in nicely with my MT4 setup and adds confirmation to the timed entry.

The favorite time to trade the DAX is near the London open at 03:00 EST, as the open usually brings a flurry of new orders and it's not hard time to scalp.

It is commonly possible to achieve a gain of 20 - 40 points in the first half hour of trading. As my daily target is 30 points and it is often hit within half an hour, I can then relax and search for perfect set ups that will not reduce the profit.

Another good time to trade the DAX is around 13:30 UK time (08:30), but need to be aware of any news announcements as this is the time most US releases come out (CPI, GDP, NFP etc). It it a pretty volatile time and once again it's easy to capture good set ups then.

About 1 hour after the markets open (London and NYC) we normally see consolidation and I tend not to trade these periods, it can be quite tedious.

You must have noticed how quickly time goes by when you are in a trade that is going against you and how slow it is when a trade you've entered just inches your way slowly.

Of course it's the same period of time, it's just our mind playing games with us. To my mind, I look for a trade to move my way within 2 bars (1 min, 5 min or any other time frame you trade). If it stall I close and wait. My experience is that if a trade doesn't move your way quickly, it is a potential loss. Practice patience before entering a trade and not after you've entered it.

Timing is a different matter and depends on your trading methodology, one of the methods I use, is reversals at known pivot points. This is a rubber band sort of trade and often you can catch a reversal and a new short term trend.

Under these circumstances, with scalping, if you have a particular price area you are targeting, timing makes a major difference, enter too early you may get stopped out, and if you enter later you will miss out.

The thing is, remember that trading is 90% is a mental game, and if your mind is cluttered or you're not in a good state it's best to stay out, better to recover, and then go back.

I use meditation, and continuously make sure I am completely calm and confident before I trade. Lately I've been using a subliminal video and I find it's helpful, 10 minutes of watching and I am ready to make money without hassle.

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