Wednesday 15 January 2014

PM READ and Volume Observation


Okay TBH I didn't do this in real-time,  I had a long chat with the missus instead.  Anyway tried to be as honest as possible. Still worried about potential over trading as there were a ton of triggered trades today, however outside of my sessions....
What I noticed was that these constant SAR (stop and reverse) trades took place mainly between my sessions and when the market had "relatively" low volume... Resulting in me confirming that my session times are correct and that I could even start my AM session closer to 0800GMT as this is when the 1st profitable trade usually takes place and is when volume pipes up.  My PM session start time 1330GMT is perfect... Admittedly I'll still need some warm up time to get in gear.  But I'm thinking 0745GMT is probably an acceptable prep time and 0800GMT an acceptable trade time for the AM (LON) session. 1315GMT and 1330 respectively for the PM (US) session.

Here is chart of the volume spikes (Magenta Ellipses) pinging at 0800GMT and 1330GMT...

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