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........
been looking for a place to be and now i'm here
my fellow travellers don't feel the way i feel
they're reading books and drinking wine and making deals
at 20000 ft suspended in thin air
a world without them turns below and they don't care
but i can't escape the glory of this view
and somewhere in that teeming stillness must be you
but at 20000 ft my cold heart makes no sound
and if i had the chance i'd never come back down
http://www.arco.ndirect.co.uk/images/ch4.gif
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[V][B)] a frustrating night it seems. with $shorts against Eur and Yen getting stopped out by that counter-trend spike just before the real movements . disappointing...the Yen has moved a long way now and I havent really managed to capitalise on it even tho I'd been foreseeing it
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have you got broadband yet arco? ;)
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Hi Peat
Yes, its a long story, but in the end
Telecom discovered a way to bring me
into the year 2006.
Things are much easier now.
regards - arco
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Hi All
I'm tripping off for a few weeks, and although
I will be working from the lap-top posting may
be a bit sporadic, or even non-existant [8D].
GTA
regards - arco
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Your Help Please Anyone
What time does each forex session start in their local time zone and converted to NZ time.
Also, bearing in mind the daylight saving changes that occur in each country, is there a site where this information is readily available.
Session times needed.
ASIAN
LONDON
NEW YORK
Cheers
WTP
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Willy,
there's no specific times for each centre to start or stop, most centres work an 8am till 5pm day, with overlap between centres
So typically Australasia opens the week at 7.30/8am Mondays NZ time, Asian centres enter around 12 noon NZ time, London enters around 7.30pm NZ time and New York enter around midnight/12.30 NZ time, and around it goes until NYK close around 10 am Saturday morning NZ time
Daylight saving adjustments cause this to change by one and two hours
Use www.qlock.com to set up times for the centres you want to know the time in - they adjust for all changes in daylight saving automatically
Xerof
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Mr Xerof
Thank you for your reply.
Cheers
WTP
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I reckon heaps of forex traders work 12 or more hours a day, so I would say dividing it strictly into 3x8 hour zones may not be that useful. I saw a post on the global view forum a while back where some guy reckoned he found it useful to think in zone terms and he had strategy that took those into account, so i searched the archives and found it for you
[quote]quote:london b.s 09:37 GMT March 17, 2006
The following is a time of day timeline(no pun intended) which will help you over the course of your forex trading. Please note that the times posted are EST and that you should give yourself some leeway with regards to the length of time of the period.
I have divided the day into three distinct zones.
Red zones are more dangerous, volatility can be extreme and caution should be exercised and position size should be significantly reduced. As you gain more experience you will see that this timezone can lead to profitable trading but caution should be of the utmost importance.
Yellow zones are periods during the day when market usually pause or reverse.
Green zones represents market activity which tends to follow more consistent patterns.
The following times are EST and since the Forex trading day is basically 24/5 it is not surprising to notice that the day can be rather long.
Yellow zone
7 a.m. This is the period when the first major European money centers start coming in and market activity starts picking up.
Red zone
8 a.m to 8:30 a.m. During this time London traders start coming in and orders are being received and placed based on the overnight Asian session (session is from 7 pm to 2 am and is most active between 8-11 pm EST)
Green zone
8:30 am to 9:45 am During this period most orders have been filled and cleared patterns emerge with less volatility
Yellow zone 9:45 am to 1 pm
11 am to 12 am is usually very quiet and London traders are awaiting the arrival of new york based traders. Barring any special circumstances markets will stay sideways.
Green zone
1 pm to 13:20 pm. Market activity will pick up and some position squaring will occur with London heading for lunch except on days when US economic numbers are released.
1:20 pm to 1:30 is usually very quiet. Bond markets have opened during this period also.
RED ZONE!!!!!!
1:30 pm to 1:50 pm. This can be an extremely dangerous!!! time of day when Economic news release have been published, I have to discourage trading during this time although it is imperative to observe this period in order to look for potential reversal setups.
Yellow zone 1:50 pm to 2:40 pm. Usually reversals occur during this period following news releases and opportunities present themselves.
2:40 am to 3:10 pm can be interesting also because of certain numbers released at 2:45 (Michigan consumer sentiment survey numbers) and 10am(Consumer confidence, national association of purchasing managers index etc…) which are all important news releases. Trading can get be choppy and caution is advised for less experienced traders.
Green zone
3:10 apm to 3:50 pm Good opportunities do present themselves during this period and liquidity is very good.
Red/Yellow zone 3:50 pm to 4:45 pm is the time of day when London traders are usually reducing their positions and reversals are frequent and are predictable for the seasoned trader.
Yellow zone 4:45 am to 6:30 pm market is usually quiet at this time and scalping opportunities abound, ranges tend to be narrower and liquidity is somewhat reduced.
Green zone 6:30 pm to 7.50 pm, continuation patterns identified on 1 and 4 hour charts usually are prevalent. Good time usually to make some lower risk/higher probability trades.
7:50 to 10:10 pm Currency futures as well as bond futures close at 8 pm and reversals and choppiness can be observed. Newbies should size down during this time of the day.
Greenzone 8:10 to 9:00 pm Market squaring up for New York, time to take profits or reduce losing po
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Mr Peat
Thank you for your thoughtfulness, it looks like the information could be of immense help to me.
I will overlay the timelines on intraday charts and play around with the red, yellow, green time zones.
WTP