Ideal Forex Trading Schedule Experiment
Since moving to Maui, I’ve been pretty relaxed about my forex trading. The rapid forex blog has readers all around the world, and everyone has a different time that’s convenient for trading…
So I decided to do an experiment…
Starting tonight with the open of the London session tomorrow, I am going to follow the following schedule by watching for forex trading opportunities at the following times:
- London Market Open – 7 am GMT, 3 am EST, 9 pm Hawaii
- New York Market Open – 12 pm GMT, 8 am EST, 2 am Hawaii
- Sydney Market Open – 9 pm GMT, 5 pm EST, 11 am Hawaii
- Tokyo Market Open – 11 pm GMT, 7 pm EST, 1 pm Hawaii
I will be there for a minimum of the first hour of trading following the market open times for these major markets.
Best times to Trade?
One of the classic recommended best times to trade is in the London/NY market overlap session, which is from 1 pm to 5 pm GMT, 8 am to noon EST, and 2 am to 6 am Hawaii.
For me this time is the most inconvenient because it means that I’ll end up sleeping through several hours of daylight. I’m on Maui to enjoy it, so I personally need to select different hours…
Forex Trading Experiment Round 1
After a week or two at this pace, I will switch my schedule to the 2nd hour of market activity. Then I’ll try trading the final hour. After doing this experiment for the next month, I’ll determine if this method works best, or if I should just focus on one market overlap session.
If you’re a live forex trading member, you’ll be able to pick any of these times to trade. I’ll let you know the results as I conduct this experiment to determine the ideal trading schedule!
Experiment With Me
It would be fun to know what works best for you. Feel free to follow this experiment yourself, or design your own experiment. It will be fun to all learn together during this experiment. I look forward to reading your comments about what works best for you!
Related posts:
- Forex Trading Online in Maui
- Living the Fantasy Life of a Forex Trader
- Rapid Forex Hits the Road for World Tour
- Lazy Forex Trader Goofs off – 2 Week Maui Birthday Bash!
- My Mobile Forex Trading Office
Tags: best time to trade forex, brian campbell, forex sailing, hedge report, online forex trading, rapidforex.com Posted in
Rapid Forex on 
Philile on 
Gary Cooper on
July 20th, 2010 at 9:51 am
Will we be learning more of surfing and scalping and ratcheting during this time??
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Rapid Forex
Reply:
July 20th, 2010 at 9:57 am
@Ben – Yes, we will!
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July 21st, 2010 at 10:52 am
Brian…. is it possible for you to email us (live bootcamp members) whenever you update your blog in the members area? I received an email with the subject “NY session about to start” and logged in to see your comment about waiting for the trendline to be broken. Then I got an email with the subject “55 pip gain today” and logged in to find I had missed out on this trade because I didn’t receive an email when you placed the trade.
[Reply]
Rapid Forex
Reply:
July 21st, 2010 at 12:14 pm
@Tim – I’m going to setup an Instant Messenger (probably yahoo) account this weekend. I did email about the London session before it started. This is a new format for the Bootcamp, so please allow us to all be expecting 4 updates a day. I don’t expect anyone to get them all, but you certainly can if you like. An IM will allow me to tell people who are online during a session when the blog gets updated, this should work nicely…
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July 27th, 2010 at 2:28 am
Hi Brian,
After looking at a number of your posts/analysis on your recent trades I would be very interested in your comments on the following:
Firstly to quote: “With Forex Sailing, we’ll be trading the 4-hour candlestick charts. Here’s why this is a great timeframe to trade.” On analysing your trading technique, a lot of decision making is based on utilising a large number of different charts, eg 1 minute, 5 minutes, 15 minutes etc. Obviously this is not just trading the 4 hour chart.
What I am interested in is the philosophy behind your chart selection process. For example, why use a 15 minute over an hour or a one minute chart? Obviously different charts give different signals, however we could argue this is just a case of selecting a chart that paints the picture we wish to see!
I would be very interested in an analysis or a comment behind your thinking as to why and what you are looking for in the chart selection processes. It obviously contributes significantly to your success .
Look forward to your comments.
Regards,
Kevin.
[Reply]
Rapid Forex
Reply:
July 28th, 2010 at 12:23 am
@Kevin – thanks for your question, it’s a very good one. The answer is fairly simple. Forex Sailing is a specific method, but to trade in smaller timeframes (Forex Surfing) there’s a little more involved. The reality is that you have to look at all charts and form an opinion. It’s not as simple as saying that one timeframe will always give you the answer. All signals on all timeframes are valid, so you have to look at what the possibilities are. This takes experience, which I am sharing through these examples.
The 15-min charts are usually good to look for fibonacci waves when I’m sitting through a trading session. When the 15-min charts looks close enough to a wave, the 5-min or 1-min charts are used to pinpoint an entry. The smaller waves act just like the big ones.
Your comment about painting the picture we want to see is absolutely true! That’s exactly it! But it only comes after looking at all timeframes. If all timeframes suggest a certain direction, then I absolutely look for the picture that gives me the best chance to enter. This is why different timeframes are used. It’s about thinking with all timeframes in mind. It’s not the easiest thing to do for a beginner, but it’s a skill that can be developed simply by looking at a lot of charts. These examples explain the logiv behind what I’m thinking to the best of my ability to share it with you.
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