The Importance of Market Session For Intraday Traders! - Page 2
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Thread: The Importance of Market Session For Intraday Traders!

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    Trader techboy's Avatar
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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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    Quote Originally Posted by forexlearner View Post
    Market opening time is very important for me because I am concentrating on intra day target, Monday opening price is always important because it give me a right idea about the market condition for the day of Monday, it also provide me good information about the trend of the week, support and resistance areas, and many more. I love to do trade with gap trading too. Regarding Market sessions I pay a lot of attention on London and New York.
    Well of course, market opening time is very important to check on Monday,but as a long term trader I don't pay much attention on it. To check about the condition of the market it will be better if you will concentrate on long term time frames such as daily chart, weekly chart. If you are a short term trader then its a good choice to do trade with London and New York session keep it up friend.

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    Quote Originally Posted by Khimi234 View Post
    Well of course, market opening time is very important to check on Monday,but as a long term trader I don't pay much attention on it. To check about the condition of the market it will be better if you will concentrate on long term time frames such as daily chart, weekly chart. If you are a short term trader then its a good choice to do trade with London and New York session keep it up friend.
    We share the same trading method and mindset, I don't pay attention to the sessions, Well, I am not saying it is not good but then I know I am a long term trader and the trend i always the winner when we are trading. Thus I simply follow the longer time frame. If we can make analysis on the longer time frame then we can have clearer view. Ultimately I can't do the intraday trading since I am not chanced to sit at my computer at all times.

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    Quote Originally Posted by splash View Post
    We share the same trading method and mindset, I don't pay attention to the sessions, Well, I am not saying it is not good but then I know I am a long term trader and the trend i always the winner when we are trading. Thus I simply follow the longer time frame. If we can make analysis on the longer time frame then we can have clearer view. Ultimately I can't do the intraday trading since I am not chanced to sit at my computer at all times.
    Actually trend of the market is also not always winner in the market, I have seen in my past experience that market trend go against you, and there is no 100% accuracy in any kind of trading system, I pay attentions on sessions because as a short term trader its essential for me to choose the best trading session for me and London session is one of them. As a intra day trader there is no need to spend all the time, only a good session and 4 hours are enough.

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    Quote Originally Posted by forexlearner View Post
    Actually trend of the market is also not always winner in the market, I have seen in my past experience that market trend go against you, and there is no 100% accuracy in any kind of trading system, I pay attentions on sessions because as a short term trader its essential for me to choose the best trading session for me and London session is one of them. As a intra day trader there is no need to spend all the time, only a good session and 4 hours are enough.
    Well, which ever one that works for us is good in as much as we are able to make money from it whenever we trade then I think it is a good trading strategy. But then like I have said. The trend is your friend when you have a good trading method. The longer term trading is more even better and safer, it gives more trading success and less stress.

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    Quote Originally Posted by splash View Post
    Well, which ever one that works for us is good in as much as we are able to make money from it whenever we trade then I think it is a good trading strategy. But then like I have said. The trend is your friend when you have a good trading method. The longer term trading is more even better and safer, it gives more trading success and less stress.
    Our trading system is good for us when it helps us to make money in forex, as I have said many time that we have to gain consistent money in this business and if our trading system helping us to gain that then it would not be much hard to gain success in forex for everyone. The market trend could be your friend but it could go against you too, there is no surety in forex so better to use proper risk management and money management every time.

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    Quote Originally Posted by Hukam View Post
    Our trading system is good for us when it helps us to make money in forex, as I have said many time that we have to gain consistent money in this business and if our trading system helping us to gain that then it would not be much hard to gain success in forex for everyone. The market trend could be your friend but it could go against you too, there is no surety in forex so better to use proper risk management and money management every time.
    yes, the trading system that is making money is good, and the pens that are making traders to lose are bad. that simply shows traders will take care not to be trading with bad trading system for them to make the full benefits of what they know.

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    Quote Originally Posted by silverlady View Post
    yes, the trading system that is making money is good, and the pens that are making traders to lose are bad. that simply shows traders will take care not to be trading with bad trading system for them to make the full benefits of what they know.
    Making money in trading is not just about good strategy, one factor is implementation, if we can implement it consistently then we may become profitable while if we are inconsistent about it the we will have bad results, it is always good to aspire for profits but it is also important to create or find a trading strategy that can give consistent profits.

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    Quote Originally Posted by Hukam View Post
    Our trading system is good for us when it helps us to make money in forex, as I have said many time that we have to gain consistent money in this business and if our trading system helping us to gain that then it would not be much hard to gain success in forex for everyone. The market trend could be your friend but it could go against you too, there is no surety in forex so better to use proper risk management and money management every time.
    Anyone who is able to make money from forex trading with any trading system should keep on making use of it, to me I think the market session matters less to me but then there are those it means a lot to thus they do make use of it when trading. But I am more on the candle stick and I am being more careful before taking any trades.

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    Quote Originally Posted by splash View Post
    Anyone who is able to make money from forex trading with any trading system should keep on making use of it, to me I think the market session matters less to me but then there are those it means a lot to thus they do make use of it when trading. But I am more on the candle stick and I am being more careful before taking any trades.
    It meant a lot if we are an intraday trader or scalper because changes can happen during different market sessions, but if we are into 4HR or daily chart for a long term strategy then market sessions wont matter that much.Any indicators or approach can work or fail at any particular trade so being careful in opening trades should be considered all the time.

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    Quote Originally Posted by techboy View Post
    It meant a lot if we are an intraday trader or scalper because changes can happen during different market sessions, but if we are into 4HR or daily chart for a long term strategy then market sessions wont matter that much.Any indicators or approach can work or fail at any particular trade so being careful in opening trades should be considered all the time.
    it is a good thing to be intraday trader, not all traders can do this and know the benefits of trading it. i know the benefits of the trading of the intraday and scalping can be a good way to make money, except i do not know how to do the scalping to make the money.

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