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Hi,
I was wondering if we can adapt the trading different times of the days to crypto based trades? Crypto as a basis is 24 hours but there are traders that can trade gold openings and closes on the asian and new york change overs successfully. Anyone tested this when instituitions trade more at 8am est? Could 8am est be considered an opening time for the US market for crypto as its when trading volume increase and offices open up?
Thanks
I have the same question as well, especially when Al Brooks spent a lot of time in the course talking about trading at different time in a day (open vs mid vs late) and I must admit that I struggled to skip or not to skip those videos as I'm trading crypto. After some observation, I'd conclude these:
1. price action makes more sense if the crypto has its ETF approved by SEC, this is crucial as it translates into liquidity and institutions will trade this instrument like others
2. with that in mind, when do you think the price action of such crypto will behave "normally"? I think the obvious answer is during the stock market trading hours where ETF starts to get traded, again that also means liquidity fueled by institutions
3. for crypto without ETF approved, my suggestion is to avoid trading them using price action as their liquidity do not qualified and very high chance that they can be manipulated (like meme coins or highly centralized coins such as trading platform coins)
4. I once asked Gemini (Google AI), the recommended crypto for intraday trading using price action is only BTC and ETH due to the liquidity and market cap
Just my 2 cents, welcome all feedback and criticism, I could be wrong
Interesting. I only day trade Solana and its seems on the asian time spand its alot of accumulation and once the states opens up the volatility goes up and I would say more distribution phase. I live in asia.
Might have to do some back testing with the 18 bar 15 min candle rule that 90% of the time the high or the low will be in this 1.5 hours. So 830 to 10am in the states. Not sure if anyone has backtested it?
I'm a perpetual Bitcoin derivatives trader who will be switching to futures contracts here soon. I would not recommend trading Solana. Only Bitcoin. There just isn't as much liquidity with any crypto other than Bitcoin which directly influences your spreads which, in the long run, makes a big difference to your bottom line. Professionals trade futures contracts, and IMO, should be the only thing a day trader should trade other than maybe forex. I'm only trading derivatives right now because I have all of my crypto tied up in Coinbase but I'll soon be moving my cash over to my existing NinjaTrader account soon where I will then trade Bitcoin futures on the CME.
In the world of discretionary trading, it does not matter what instrument or timeframe you trade as long as you have liquidity. That's the beauty of discretionary trading. Just my $0.02 as well. 🙂
