Setting a Bitcoin Trading Schedule - Example of a Written Trading Schedule
The Bitcoin trading market is a market that is global in nature. The global nature of the Bitcoin Crypto market means that it is opens around the clock throughout the week. Traders therefore have a lot of flexibility when it comes to choosing when to trade BTCUSD cryptocurrency online. However, not all times are suitable for placing and opening Bitcoin trades.
Bitcoin traders should set up a trading schedule based on the most active Bitcoin trading hours which are the best market hours to help maximize profits and return on investment. USA, London and Asian market sessions are the most active times suitable for trading Bitcoin. These three market sessions make up the largest volumes of transactions from across the world on a daily basis, although Asia session is one of these 3 market sessions it is best not to trade during this particular Asian session.
There are also market overlaps in the between the three market sessions, where two market sessions are open at the same time, these market overlaps are the most active trading periods. These overlaps provide a great opportunity to trade in multiple markets at once and maximize your potential profits when trading Bitcoins online.
The best overlap is the one that occurs between the US and London market sessions. This is when the financial transactions are the most active and more trading opportunities present themselves.
Asian session is the least active of the three major market sessions. Bitcoin prices move slowly or consolidate at a single point throughout the Asian session. This is not a good time to be in the market - this is the best time to take a break. Even Asian investors avoid trading at this time and wait until night time to trade when the Europe and US markets are open.
Because the trading day lasts all day and night and it is not possible to stay up all night long, Bitcoin investors should set up a workable Bitcoin trading schedule. By gaining an understanding of these market hours, a trader can set appropriate hours to increase chances of maximizing their trading profits when it comes to trading Bitcoins online.
When setting up a Bitcoin trading schedule, it should accomplish the following goals:
1. Familiarize yourself with the various market sessions.
These are: New York session, the London session, and the Tokyo session.
London 3 a.m. To 12 p.m. EST (8:00 GMT 1700 GMT.)New York 8 a.m. To 5 p.m. EST (1300 GMT 2200 GMT.)Tokyo 7 p.m. To 4 a.m. EST (00:00 GMT-9:00 GMT.)
2.Trade during this time when Bitcoin prices are most active.
3.Plan a workable Bitcoin trading schedule. So as to keep a balance between your time to get adequate rest. The best time to trade is between 3a.m. To 5p.m. EST
Bitcoin Trading Session - When To Trade Bitcoins During Market Session Overlaps
When the USA and UK market sessions are both open - prices of Bitcoin will generally trend up or down and move a good number of points in one direction. As a technical analysis trader, this time the technical indicators will provide good and profitable trading signals that catch the trend.
When the Bitcoin prices are trending and moving fast traders will find it much easier to make money if they open and close trades during these times.
On the other hand, during the other times for example the Asian market session, the prices will be in a range bound sideways movement and traders using technical indicators will have a hard time making profits as the indicators will generally tend to be more prone to whipsaws. One will find it difficult to make money in this range bound - sideways market where the price action movement is sideways.
It is 10 times easier to make money when the market is moving up or moving down than it is to make money when the market is moving sideways.During the best times to open BTCUSD trading orders, i.e. 800 GMT and 1800 GMT the BTCUSD prices will trend in one direction, during other times like Asian Session, the Bitcoin prices likely to be range bound, move sideways or start to consolidate.
London session 08:00 GMT -17:00 GMT.USA session 13:00 GMT - 22:00 GMT.
Asian session is a relatively slow for all Bitcoin price movements and not suitable at all for trading Bitcoin
Basically your plan should target 8:00 GMT and 18:00 GMT as the time that you trade Bitcoins online.
