Anbat

REASONS not to trade 1st hour of session

Education
OANDA:GBPAUD   British Pound / Australian Dollar
If you are either a scalper trader and/or a day trading, the 1st hour of new session is never a place to trade: Here are some reasons:

1) Low Liquidity

2) Low Volume

3) Very High spread widening ( can be 15 to 20 pips) from broker

4) Very Large hourly candlesticks (example: 88 pip large clearing doji candlestick ) happens for broker to take both buyer and seller positions out.

Note: 1st hour of session is during Sydney session, then afterwards Tokyo session starts. Increasing liquidity and volume starts end of Tokyo.

Part of your plan should be:
Pairs to trade
When to trade
What setups to trade
Trading edge & Strategy

Do not be greedy especially during the financial craziness going on in most countries around the world, just get a piece of PIP PIE in a trade if you are either a scalper or day trading. Use risk management and commonsense- this is no place to gamble with your money- use probabilities of success of setups.

Comments

@Anbat but can you set a forex/crypto trade to sell/buy at a specific price with 5 h timeout interval during this time?
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Noted 📝
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