FOREX TRADERS

[ultimatepick]

Some other thing that is the MOST IMPORTANT that you will ever now. I learned this 2 days ago and backtested with incredible results. Look at 3am Eastern (London open), 11-12am (London close), 9 pm ET Hong Kong open. It is at these times that reversals happen and we have no excuse to NOT make 20 pips a day. Players enter or leave the markets with different opinions on where the currency pair is gonna go.

AT 3 am ET the London dudes come in and of course they have a different opinion on what is goin on and make their move. Keep an eye on the indicators and candlestick formations on the 15 min and 1 hour charts.

At 11 am ET the Londoners take profit. In last Fridays Non farm payrolls you can see the EUR/USD went up at 11 am ish because these dudes were cashing in their shorts. Completely logical and you can always make your 20 or so pips after a big move .. easy money.

At 9 pm ET Hong Kong comes into play and of course the asians often have a completely different view on the price action they see. This may sound crazy but the Asian culture and the western culture may be presented with the same data but often times they see different things and therefore take the pair you are trading the other way. Keep an eye on the indicators and often you can get a clean trade.

These are the most important times but keep your eye for the open and close of the various markets around the world.

Good luck!
Ultimatepick