Trying To Understand How Can a EA Trade the 4 forex sessions
Hi. I am trying to learn all I can about forex. If a trader with an EA wants to trade the 4 sessions of forex how can this be accomplished?
In my reasoning, the trader would have to find a forex broker in each of the 4 geographical regions where a session starts and run a copy of the EA there. Are there brokers where you can trade all the sessions from with just one EA?
If there is, then what would happen if I open a buy trade for EURUSD at 8:00 PM GMT and left it open until about 8:00 AM GMT(I hope this question is not too vague)? Can you recommend a tutorial for further reading to learn more about this? Thanks.
Experiment with all your ideas on a free Demo platform with, say, the biggest forex broker in the world (google this).
You will get all your questions - regarding the above matter - answered in about 1 week of experimenting on the Demo. You will have no doubts.
My short answer: use one big broker. They will have hundreds of thousands of clients world wide. In principle, there is only one market session, that is 24 hours.
Experiment and you can see for yourself.
You can also use volumes analyzer to identify the most active instruments, these do not necessarily have to belong to their current session, to avoid the risk of missing all the action.
Ok. In summary, what you are saying is that not all instruments are active 24 hours but only in the session in which it is traded in a market?
So to go back to my original question about what would happen if I opened a position at 8PM and closed it at 8AM GMT, is that the instrument's price will likely fluctuate during the Sydney session and then possibly flat-line during the Tokyo session. And then possibly start fluctuating again when the London session starts at 8AM. Is this close enough to what you are implying?
Now, going back to your suggestion of a "volumes analyzer". In essence, what you are suggesting is to first identify the most active instrument via a "volumes analyzer" then trade an instrument while it is active and available, since the most active can likely have the more volume. This could then negate the need for trading based on GMT time. Is this what you are saying? This "volumes analyzer", is it some sort of indicator i could attach to an EA?
I hope I am not reading too much into what you posted.
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Hi. I am trying to learn all I can about forex. If a trader with an EA wants to trade the 4 sessions of forex how can this be accomplished?
In my reasoning, the trader would have to find a forex broker in each of the 4 geographical regions where a session starts and run a copy of the EA there. Are there brokers where you can trade all the sessions from with just one EA?
If there is, then what would happen if I open a buy trade for EURUSD at 8:00 PM GMT and left it open until about 8:00 AM GMT(I hope this question is not too vague)? Can you recommend a tutorial for further reading to learn more about this? Thanks.