In today forex faq, we have 2 questions from readers of my blog. Do note that these 2 questions are by 2 different readers.
Q1: Which session is considered the best for Forex Trading. Asian,London, New York etc.
Personally if you were to ask me which session is the best to trade forex, my answer no specific session. This is because I trade at any time of the day as long as the setup is according to my strategies.
For my strategies, I do have trades during the Asian session, London session as well as the New York session and therefore I can assure you that it works at any time of the day as long as you stick to what I teach you in the course.
If you were to ask me which session is the market more volatile, it is usually the London and New York session. You will usually see a sudden spike of price in these 2 sessions.
If you have a day job on hand, I will suggest that you trade whenever you are free at home after work and do not have to bother too much about which session is better.
Q2: Do you take consideration the news factor in your trading?
This is another very popular questions among readers as most of you are curious whether I do still trade on a major news release day.
I am pure technical trader and therefore I do not even care about news at all.
As long as the setup is according to my strategies, I will always enter the trade no matter what major news is going to release soon. No doubt, I might have trades that are stopped out due to the news but I do also have trades that hit my target profit because of news.
Becos of my high risk reward ratio, I am still benefiting from the news.
In addition, new trading is something that is very hard to predict because some people will interpret the news as a buying opportunity while they are others who interpret it as a selling opportunity. In the end, which direction has more traders win.
Therefore this is to me too reliant on luck and not techniques.
I hope that I have answered your question and do feel free to email me if you have any question