Night Time Trading - 5% too lofty?


#1

Hi All,

Is 5% a day a reasonable goal for someone with a full time job?

Currently I work 9a - 5p EST and I am only available to trade during the Asian market hours (7p - 12a, provided I can stay up that late). While I am aware it is possible to make money during these hours, I wonder if 5% a day is too lofty a goal for these hours. I am curious if there are any traders here whom have been able to achieve this more or less, and if so, I’d like to know what instruments you’re trading and what strategies have been effective for you.

I’d appreciate the advice!

Thanks


#2

Same my scenario, working full time and trying to catch up market, I have to not easy…


#3

from my experience unless you can stay up during the london session, you wont have much movement trading the asain pairs. it could be done tho man, the 5 percent rule usually only applies if you have 1k, and you risk that 1k to make 5 percent. 50 dollars. 50 dollars a day is good imo


#4

I appreciate the feedback man!

Yea I’m starting with a modest $3k so I was definitely looking to apply the 5% rule; and be self employed by next year lol. But you are right, I have been demo trading the past week and I can attest, there is very little movement during the asian session, apart from high impact news breaks.

I think I am going to have to reassess my approach here. I’m thinking I need to take more of a Swing Trading approach; that is, holding positions for days to weeks. Thing is, Apex doesn’t seem to have any systems for that type of approach. Which sucks, because I really like Apex :frowning:


#5

Are you trading on Nadex or an Fx account?


#6

I have several questions. But first, you should know that 5% is not an absolute goal as in its more like a guideline of when you can consider stopping. Often I am happy with 2 to 3% for a night or day session. the 5% rule for figuring out your risk is very important though.

Don’t be discouraged to make one solid trade a night for maybe 10 to 15 pips. Grabbing 10 to 15 pips should be cake even during the late Asian session.

Question: What are you trading? Nadex, futures, Forex?

Have you considered trading Iron Butterflies or Iron Condors?


#7

Thanks for your feedback Ronin!

The idea of 5% as a general guideline makes sense. I was just really hopeful that I could achieve this on a nightly basis, just as day time traders do during the day. But it seems I may be setting my sights a bit high given the time frame I am available to trade each day.

Currently I have been demo trading Spreads on Nadex, with a focus on the AUD and JPY pairs of course.

I haven’t begun to learn about Iron Butterflies or condors just yet, so I haven’t considered them actually. I have been trading the IZ SS system exclusively, since I am just getting started in trading.

Do you recommend I get started learning those strategies asap?


#8

Currently I am trading spreads on Nadex.


#9

Ronin is absolutely correct… Nothing wrong with just 10-15 pips a nights. As you get more and more comfortable with the trading systems and just trading in general, you can always add more contacts. Those 15 pips quickly become $30… $45… etc etc

The Iron Butterflies and Iron Condors work great when there is no moment in the markets. Once you get IZSS down, then you definitely should check them out. Always good to have options

Another possible option. is you could trade when the London markets open at 3am. I know that has worked great for many traders here. Me included :slight_smile:


#10

Good morning Aaron what’s good to trade during London market beside the 6E? I am a newbie with a full time job and the volume just not there in the evening ( or I am not know what I am doing). Are binary good to trade during the London market?