Scalping Forex in the Asian Session

 

The other day I was with some friends at a little late evening gathering. One of my friends, actually more of an acquaintance at this point, knew about Logical Forex, and a little bit about forex scalping. Several months ago he had “prowled around” on the web site and this blog of forex trading examples.

When I first told him about Logical Forex, he expressed a strong interest. But… I could see it in his eyes. That interest he told me he had, was quick for me to identify. It was more based in a type of “fantasy”. I’ve seen that “look” so many times. I’ve “heard it” in the support tickets. And, I do understand it!

We all want to have instant success with little effort and work, but that’s not going to happen very often, and certainly not for very many people. That “forex fantasy” is really equivalent to the fantasy of winning the lottery. And, it’s that fantasy that all the marketers use to suck you into those things that promise you riches without “work” or “risk”… or whatever it is. I don’t tell you that that kind of junk. It’s a lie. (Well, like I said… some people do win the lottery. But what are your chances?)

I like to be in control of my decisions… my forex trading… my money. What we do with Logical Forex is NOT any kind of gambling or game playing. We look for patterns. We look for Flow – that price is moving in an orderly flow. And, we look at Decision Points – Logical Forex Magnet Lines – where banks and institutions are almost certainly going to “move the market”. And then… we do what they do and trade with them in the direction of their trade.

Of course, my friend had taken a very quick look at the site those several months ago, but he did remember a few things. A comment he made the other night was…

“I haven’t looked at Logical Forex since my first time. I remember seeing that most of the trade examples you put on the blog tend to be around 1:00 AM or 2:00 AM US/Central time. I’m never awake then. I can’t trade at that time.”

I asked if he had looked at much else on the site, like maybe even more than a couple of examples here, and he said he hadn’t. That’s further “proof” of “looking for fulfillment to a fantasy”. In other words, even though his eyes lit up initially, he wasn’t really willing to put in the effort to actually review the materials I have on the website.

Well, I couldn’t let him suffer, could I? :-)

I asked him what time he got home from work. He said usually around 5:30pm (US/Central). So, I asked him if he could be sitting at his computer from 7pm until 8pm at least a few times per week. He said yes, he could do that most evenings.

You probably can see where I’m going with this, right?

By the way… 7pm-8pm US/Central is 8pm-9pm US/Eastern (New York) or 5pm-6pm US/Pacific (Los Angeles)… and… it’s generally the Asian Market Session Open period… with a bit of room depending on where you are in Asia/Australia. For many people, this is the time they trade, and for others (like US traders getting home from work) it is an optional time to trade. If you’re in Europe, or other parts of the world, then this time period likely won’t be a good match for you… but you have the ideal time slot anyway. ;-)

So, what’s the point? Well, there are several…

If you’re serious about trading… a particularly forex scalping…  there IS a time period when you can trade. It will not be ideal trading conditions (usually) and there won’t be trades every day, no matter what time slot you have to trade. That’s just the way the world works. The market doesn’t owe you anything, nor does it work around your own time schedule or your “need to make 20 pips per day”. But, if you are willing to make yourself available to the market… and take what the market gives you, then you can become a consistently profitable forex scalper and trader. Here’s what you need to do…

Get serious and commit to yourself. REALLY REVIEW THE FOREX CHARTS with the Logical Forex Indicators applied to them. You WILL see regularly repeating patterns. You will need to review charts for a while for these patterns to become ingrained in your brain. That’s how you learned to read, remember? Those letters you are reading now, when you first were trying to read, we just a jumbled mess of lines and curves… and they didn’t have any meaning. Ultimately, you started seeing patterns in the letters, the words, the sentences, the paragraphs… the concepts and applications…. and it’s the same with Logical Forex.

And now… I’m going to help you. In fact, I’m going to show you something very valuable, if you are willing to “dig in” a bit. In a way, I’m going to “cheat for you”. ;-)

For those of you with the Premium Videos… notice in these charts “certain things” that I disclosed to you about markets. I’m not going to give you any more “clues”…. because if you have seriously and with dedication gone through those Logical Forex Premium Videos several times, then you will see a specific “pattern” in these charts. If you don’t see the obvious, then you need to review the Premium Videos again. Now.

And, for those of you who are in our Logical Forex Mentoring Program, you will recognize even more things… depending on which section of the Checklist we are working on with you right now.

And… for everybody else… PAY ATTENTION because what you will see in these charts MAY open your eyes to many things.

Of course, that depends… it depends on if you have a “fantasy perspective” like my friend HAD (notice the past tense). After I showed him these charts (well, actually similar ones… these are from the past 3 trading days… but I showed him charts from almost every single day for the past month, with only a few exceptions). Anyway… he has tossed his fantasy and is NOW willing to work a bit, and actually absorb and apply the things I make available with Logical Forex. In fact, he has gone a step further. He as promised me that he would NOT alter anything. He would trade EUR/USD and EUR/JPY. He would setup his charts like I show in the training materials. He would follow the Checklist. In other words… he will follow the recipe for success, and not the recipe for failed fantasies and time-wasting tweaking.

Ok… so now… review these charts closely. You will see some things that are a bit different than what you might expect. For example, you may notice that the Logical Forex Activity Lines aren’t always “perfect”. Well, that’s part of trading during the Asian Session. After you’ve looked at the charts for a while and established the patterns, yes even patterns with the Activity Lines, it’s clear what to do.

Keep in mind, too, that liquidity is not at its highest during the Asian Session Open, and you may have to allow for larger spreads and more spikes (or jitters as Scott called them in a previous post.) And, yes, make sure you focus on EUR/USD and EUR/JPY particularly during the Asian Open. There are many reasons for that… some of which you will simply not have a clue about (most likely) unless you are in our Mentoring Program.

And remember, do not “look” for a trade. Don’t force it. You need to make yourself available to the market, and take what it gives you. Go with the flow. Literally. Figuratively. Always.

With all of that… review these charts. Remember that you can click on a chart to expand it “full size” in a new browser window (or tab). Just close that window (or tab) and you will return to this page.

Do you see it? Do you see other things in the charts that I might not have marked? Do you see the patterns… the patterns AT the time of scalping AND just  a few minutes before? The charts are speaking to you… screaming at you… listen… watch… feel the flow… scalp like a pro.

Where you see the “green line” is the general area you need to closely review. Pay attention to everything near that line… and a little before and after, too.

Enjoy. You may not have a full appreciation for what I’m showing you here… unless you truly are committed to yourself… to becoming a consistently profitable forex scalper and forex trader.

*** EUR/USD

 

EUR/USD Asian Session #1

 

EUR/USD Asian Session #2

 

EUR/USD Asian Session #3

 

 

*** EUR/JPY

 

EUR/JPY Asian Session #1

 

EUR/JPY Asian Session #2

 

EUR/JPY Asian Session #3

 

So…. what are you going to do with this information? Take action now! And… as always… have fun!

-Greg

 

 

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4 Responses to “Scalping Forex in the Asian Session”

  1. Greg says:

    Hey Bob! It’s great to see you here. :-)

    Yes, in some ways these trades are a bit more aggressive than our normal approach… but this is somewhat caused by the “time of day” in the Asian Session Open. There is just less liquidity, and the patterns ARE a bit different, but with some practice, assuming that is the time of day you want to trade, you can identify and execute trades during that session.

    I still recommend that if at all possible to trade during Asian Close, European Open and Close and US Open… if at all possible. And, there are times during those periods where trades will setup “outside of the specific opening time”. In other words, when I say “market open”, I’m also referring to around a 1-2 hour window around the “actual” opening/closing time.

    For the actual scalping setups, I hope you are seeing more than just “aggressive trades”. There is a specific pattern in almost every example chart here. If you’re not sure what I’m referring to, since you are a Premium Video Client, just open a support ticket, and I’ll give you the specifics. ;-)

    Concerning “fake outs” — Using much more than what Logical Forex shows you is mostly just going to confuse your brain. Every extra indicator or “filter” we add to the charts (or to our decision making process) just give our tired-old overworked brains One More Thing To Analyze… and Paralyze us. Doing these kinds of things reminds me of the beginning reader who has to “sound out words”. Yes, there is (maybe) a very-short-time for that, but it becomes terribly detrimental and limits progress. Tweaking and “trying to discover that one-more filter” is generally Not A Good Idea, and I cover why quite extensively in the Getting Started Guide.

    Your last sentence… with that you have a key to unlock SO many things for yourself. When you are meditating and levitating in the morning, really contemplate what you have said. Identifying a trade is key. And, that key is seeing Patterns. And that same key is to just, well, use it to unlock the door and enter. No sense trying to figure out exactly how the key works… unless that’s just something you want to cram into your brain… but that’s not likely to help you make money Right Now. Remember with Logical Forex… No predicting. No Over-analyzing. No Hesitating.… in Premium Video #1… and “scattered” about the site. ;-) Review the videos… and the Pattern Library… and the Getting Started Guide… and your own charts for these Patterns… burn them in your brain even more… and I can tell by what you have said here… you are in a position to do very very well.

    -Greg

  2. Greg says:

    Yes, keeping focus on the broker panel to execute your trades is extremely helpful. For a while, it can be a Big Change to make, and can feel frustrating… simply because it’s easy to get used to watching a chart (which will always take “extra time” to draw).

    We do that because of… ready? because it shows us PATTERNS that are much more difficult to “see” in a flashing quote panel.

    But… Guess what? You CAN see Patterns in your broker quote panel!!! — And THAT is the ONLY place where you are seeing The True Price… meaning it is the closest thing you have as an absolute price and an absolute representation of the market. It’s really the only thing that matters… once you have identified a good candidate trade setup. It’s extremely important to consider what I’m telling you about this. It will completely change the way you look at trades, and the way you trade, and ultimately your success.

    The challenge is… it’s challenging to do… for a while. ;-) With a bit of practice, you’ll find that the charts, once you have identified your scalping setup, is just not giving you enough information in your charting lines. And, get this… the chart will actually start looking… SLOW. And, that’s when you know you have taken a major positive and powerful step in your forex trading.

    Imagine this… you are driving down the highway. Where are your eyes focused? Out the windshield/windscreen? On the road? On the painted stripes? On the speedometer? On the radio tuner? Ponder that for a while.

    And… while you’re pondering… let’s pretend for a moment that you have spent 1 hour on each of your “10,000 indicators”… installing them, tweaking them, trying to understand them, and so on. That’s 10,000 hours. Poof.

    Instead of that, what if you spent those same 10,000 hours becoming absorbed in Logical Forex and actually gaining experience in a proven way to be successful with forex? You’ve already made a good start. Keep going. And, stay on the single path, and you’ll find things a lot easier and much less stressful. And fun.

    -Greg

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