I also wanted to share some great results Forex trading with PTU 2.0 in both the US and European sessions. I have screenshots included below trading the EURJPY in the US and European hours as well as the EURUSD traded in the US and European hours using Premier Trader University 2.0.
When day trading the Forex markets the two markets I like to focus on are the EURUSD forex pair and the EURJPY forex pair. The advantages are the narrower spreads. When you are Forex trading on an intraday basis you are typically going for modest size targets – especially when compared to a swing trade which can be 50, 100 or 150 pips or more. Therefore we have to be aware that paying a smaller spread is essential when Forex trading.
The European trading hours tend to start about 1:30am EST (New York Time) and run to about 5:00am EST. US Session runs from approx. 6:30am-7:00am EST (NY Time) to 12:00pm. These are the best timeframes to day trade the forex markets in both of these pairs. Usually we aim to be done quite a bit earlier in the session — there are times we’re complete in the first 30 minutes but understandably pending price action we sometimes need to be patient for our forex trade setup.
The key as you can see on the charts is you’ll always have an exact entry price, target and stop management. That keeps you unemotional when trading and you just need to follow the forex trade plan. [Keep in mind, you can click the chart thumbnails below for a full sized image]
