Foralot ofus (especially intheUSA), thebest times totrade Forex fall attheworst times ofday — either during work hours orwhile we are asleep atnight. Fortunately forthose who trade thedailies intheUSA, thestart ofthenew candle tends tohappen intheafternoon, but that often means that trades will span overnight onthis andother timeframes. What do you do if your trading schedule is this inconvenient? Suggestions online usually range from “quit your job” to“move toEurope.” This is hardly feasible formost ofus. Most ofus are going tobe faced with examining anoption which is more viable but still challenging: trading Forex atnight.
Formany people, trading overnight is just agiven since position traders who trade longer term charts like weeklies are going tobe intrades formany days onend. These timeframes move slowly though andare easier tokeep aneye onduring thedaytime than other trades onfaster timeframes. What if you trade thedailies orhourly charts? You could be stuck making critical trading decisions inthedead ofnight.
Unfortunately, many FX traders arrive atthesolution, “I’ll just not sleep.” This is theroad todisaster though. You cannot function without sleep. You need sleep tobe healthy andalso tokeep your mind sharp andfresh. Trading onasleep deficit is like trading inebriated. It is just areally bad idea; it will destroy your health andyour finances. So you have tosleep. How do you balance sleep with currency trading atnight?
Thetrick is toset up alerts insuch amanner that you can maximize your rest, minimize thecomplexity ofyour
One technique you can use totrade during thenight is toset alerts atpivot zones. Different techniques will be appropriate fordifferent Forex systems, but if forexample you exit trades partially based onsupport andresistance, then you will want toidentify important pivot areas andset alerts inthose areas. Choose asound tosignal when atrade is moving toward profit andanother sound tosignal when it is moving away. That way if you hear the“good” sound inyour sleep, you can roll over andgo back tosleep (orget up andtrail your stop). If you hear the“bad” sound, you can get up andchoose whether toexit. Byletting thesound itself give you information, you can optimize your sleep. Also, make sure tohave thealert beep atyou more than once so you do not miss it inyour sleep thefirst time.
Trading theforeign exchange market atnight is one ofthemost challenging real life integrations you can do, but with some tweaking you should be able tomake it work foryou. You do not have tomove toanother country orquit your job totrade during theday if you can learn how totrade atnight and get adequate sleep!
