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Thread: The Importance of Market Session For Intraday Traders!

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    The Importance of Market Session For Intraday Traders!

    I just want to share my opinion regarding different market conditions, as we all know there are 3 major market in Forex, these are the Asian,Europe/London and the US. Intraday traders must be aware how market behave when this market open because it can turn your winning trade into a losing trade or a good trade setup into a bad entry setup, this is more important for intraday strategy where you are just looking for 20 to 50 pips profits and using a tight stop. If you notice, most of the time their are always sudden movement(between 20-50pips) within the first 3 hours when each of these market open, the reason for this is that there are new traders and banks comes in that can drive prices to new level and direction. A technically good trade setup in the Asian market can be easily reverse in the London or US market. So in creating an effective intraday strategy it is important that we always consider such conditions rather than blindly follow our indicators. Intraday traders can minimize losing trades or capture more pips in their trading if they are aware and consider this conditions seriously during trading.

    Good luck to all and happy pip hunting!

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

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    Quote Originally Posted by shambca7 View Post
    Of course market patterns can be seen good on London and New York session so much volatility can be seen also so its a good selection to do trade in these two trading sessions I am a long term trader but this is true that most of traders would able to see volatility only in these two sessions so both long term and short term trader will earn money mostly from these two sessions.
    Yes these periods offers us good movement for better trading. But lastly good knowledge and analysis is what we need most in the market or business to succeed. Though when the first two is present there is something else which is the top priority and that is the capital.

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    Quote Originally Posted by Bhave4U View Post
    Yes these periods offers us good movement for better trading. But lastly good knowledge and analysis is what we need most in the market or business to succeed. Though when the first two is present there is something else which is the top priority and that is the capital.
    Good knowledge of the market and the good analysis will help trader to make a good use of New York and London session for trading. My perspective say that we should have a plan for our entry and exit in trading. I can understand that these two sessions are most traded sessions in forex but the lack of knowledge could make any less effective in the trading of these two sessions. So first we have to give proper emphasize to our learning here.

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    we have the greatest work for the good that surmons the given choices that we care able to value as traders to sow the market informations that we can chose when we trade and for the good issues given that works well for all of us, the market gap that comes when we can not really comprehend what is really the issues of trading with it its all set

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    Quote Originally Posted by shambca7 View Post
    Good knowledge of the market and the good analysis will help trader to make a good use of New York and London session for trading. My perspective say that we should have a plan for our entry and exit in trading. I can understand that these two sessions are most traded sessions in forex but the lack of knowledge could make any less effective in the trading of these two sessions. So first we have to give proper emphasize to our learning here.
    I have a good understand and experience of my trend following trading system some time I do price action with candlesticks so I am using so many trading strategy in single concept of my trading system. I think a trader should do flexible trading in forex and should have good understanding of market conditions. As a short term trader I mostly do traded with those two sessions, I open my trades in the middle of London session and I use full New York session to earn money in forex. I do this due to busy schedule of my office working hours I can't do trade in other sessions.

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    Registered user cutiekc's Avatar
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    I have read so many things in forex trading, just trying to know much about the market and I have learned that in this aspect, the intraday trader believes that there are time of the day that the market moves more faster and that time they tend to enter the market. Well, I don't really know how they trade but it is something i will not dare adopting.

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    Quote Originally Posted by cutiekc View Post
    I have read so many things in forex trading, just trying to know much about the market and I have learned that in this aspect, the intraday trader believes that there are time of the day that the market moves more faster and that time they tend to enter the market. Well, I don't really know how they trade but it is something i will not dare adopting.
    Well intra day trading is nothing but trades that lasts not more than a day. So in this regard we can even take scalping as intra day trading. I think most retail traders tend to close their trades with in a day. To carry our trades for several days we need good planning and risk management. Intra day trading and scalping can give better results when there is good movement in the market.

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    Quote Originally Posted by cutiekc View Post
    I have read so many things in forex trading, just trying to know much about the market and I have learned that in this aspect, the intraday trader believes that there are time of the day that the market moves more faster and that time they tend to enter the market. Well, I don't really know how they trade but it is something i will not dare adopting.
    You can say that forex is about learning, this means you are saying the right thing. But looking at the market carefully, the learning alone can not do it, traders needs more than the learning, they need the confirm trading ways that will be making everything to be good in what they want them to be doing for them.

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    Quote Originally Posted by PROPENSITY100 View Post
    Well intra day trading is nothing but trades that lasts not more than a day. So in this regard we can even take scalping as intra day trading. I think most retail traders tend to close their trades with in a day. To carry our trades for several days we need good planning and risk management. Intra day trading and scalping can give better results when there is good movement in the market.
    I do hold my trade for more than a week and more than a month if there be need. I just do risk 3 to 5 percent per trade. Like the one I took on EURUSD sell stayed open for close to 3 weeks before it got to the target, therefore point is that, when we have taken good risk management then we can surely make money more than the intra day trading method.

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    Well, what I understand by market sessions is that the different market opening time and all that. But I have been studying this for some times now, and I have learned that in forex trading, that does not really matter, in the sense that we should be after the knowledge and skills and how we can make analysis so as to get into the market on time.

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    Quote Originally Posted by Bhave4U View Post
    Yes these periods offers us good movement for better trading. But lastly good knowledge and analysis is what we need most in the market or business to succeed. Though when the first two is present there is something else which is the top priority and that is the capital.
    Having a good knowledge of forex would give you a good earning in forex for sure, trader's can perfrom well in all short term as well as in long term time frames when they know very well how they have to do trade in forex. Market sessions are also important because those can give us the real volatility in our trades, as we can seen today that non farm payroll data is coming so for the volatility we have to wait for the news till then there will be not much movement in the market.

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