Learn five secrets of Forex trading in the Asian session
Don’t Trade the Asian Session. That’s what some currency trading advisors will tell you, but they are dead wrong. I have been trading for over 20 years, and Asia has always been the most profitable session for both swing trades and day trades. The New York session is about identifying the trend, but the Asia session allows you to ride the move. This is how I trade every day.
Five secrets of Forex trading in the Asian session
In this article, I will share the top five secrets of Forex trading sessions in Asia. But before we dive into the trading tips, I would like to highlight that I find trading during the Asian session quite beneficial, particularly in Indonesia and Singapore. As you may already know, I trade twice daily: during the Asian Open time and the Early New York opening. The Asian Open is usually at 8:00 pm, and the Early New York opening is at 6:30 am New York time.
During the Asian session, I day traded, and I set up my swing trades to carry overnight still; since I’m in Asia, I never have to wake up early because it’s 8:00 am and 6:30 pm, but you don’t have to leave Asia to reap the benefits of trading in the Asian session.
Tip #1 It is crucial to know when not to trade Forex and when to sell.
I talk about this often because traders need to understand that not losing money is just as crucial to your portfolio as making money. Those trading guides who warn you against trading the lifetime session, there is some merit to that.
They are right that if you trade early in Asia, like 5:00 pm to 8:00 pm New York time, which is 22 to 1 GMT in the summer, it is death for Asia.
Before most readers arrive, the worst time during this period to trade is between 5:00 pm and 7:00 pm New York time, or 22 to 24 GMT, and spreads are usually wider, nothing happens, and you’re stuck sitting there, guessing. Whether you should be in your position remains to be seen because everything is still happening.
Tip #2 The best time to start trading is in the Asian trading session
It is between 8:00 pm and 9:00 pm New York time, especially if there is a big move in the New York session because there is such a good movement that there can be no continuation. At the opening of Asia, it is still being handled in my cell area, according to the charts. In my post, the dollar-yen is trading below the indicator line, and the background reflecting the long-term trend is red or bearish, and if you sell it in Asia.
If you open it, you will get up to Harper’s point and get 100 points of continuation in just 2 hours. Riding the strikes of the American session is a strategy that I use every day, and it is a principle that you can apply regardless of whether you use a zip code or not. You only know with it; it is considered the big move in the New York session, which is an excellent opportunity.
Tip #3 The best opportunities are found in currency pairs
Especially the AUD, NZD, and CAD pairs. My training partner will tell you I make the most money trading the year-old Australian dollar.
You are a Kiwi Euro CAD.
But I also trade the Australian dollar, the Swiss dollar, the kiwi, the Swiss kiwi, the Canadian dollar, and the Australian dollar very well, and the reason for this is because I use a lot of movements in the less moving Australian dollar, the kiwi and other currencies.
The trick to trading these crossovers during the Asian session, Often in the New York Open, is to pick the right traits. I formed a quick signal in the Asian Open trading sessions, which became a big move.
Tip #4 Forex Asia trading sessions are a great time to practice swing trades
Swing trades usually involve peeing on the candle, wearing, and often closing the daily candle, which is a straightforward strategy that picks the tops and bottoms and develops a plan of waiting for the instrument, which could be a currency, an index, or it can be stopped to prove that it is forming a top or bottom before starting the trade.
This is the key to trading tops or bottoms: waiting to make sure it is starting to form a program before jumping in, and when the dollar closes above the first standard deviation, you don’t necessarily need to trade well.
Tip #5 It Is far better to fade away than to follow the initial reaction to the Australian or New Zealand data releases
Take a look at this 15-minute Australian Dollar and Dollar chart. We don’t even need to know what number it came in to understand that this was an excellent and robust jobs report due to the strength of the Australian dollar. It rose sharply within minutes. And this rally has pushed its price up, and you might think I should buy it because it’s a good job number.
We had an extreme reaction, which should continue, but guess what happened? There was a continuation, but all they bought was 5 points before it reversed and pulled back 30 points, and you are a day trading jobs report.
