This doesn't sound too appealing, does it:
- 10:30pm – Trading Preparation
- 11:30pm – Market Opens – Commence Trading
- 01:00am – Stop Trading – Commence Post Session Review
- 02:00am – Wind-down
- 03:00am – Bed
- 07:00am – Up to get the kids ready for school
Late to bed; and a serious lack of sleep.
And it’s even worse during the six months of US daylight savings, when the market opens an hour later at 12:30am my time. Not nice at all.
Yet it’s part of my current routine. And it’s quite likely a similar routine to many traders across the world, in particular those in the same timezone as I who choose to trade the US markets.
And unless I can convince my wife to move to the US (not likely) or convince the CME to move to Australia (probably more likely than the first option), I’m stuck with this routine.
I recently took a couple of weeks break from this gruelling schedule to trade the Hang Seng Index Futures, instead of the E-mini Russell. It’s a planned move, approximately every quarter, to allow me to repay some sleep debt. But it only lasts a couple of weeks and then I’m back into the daily grind (or should I say nightly grind).
This prompted a request from a reader of my blog to discuss my thoughts on managing trading in a timezone such as we have here, the east coast of Australia (GMT+10).
This is of course just a part of a wider issue, that affects traders all across the world, in particular during their development phase where they have to juggle learning to trade alongside a job and other family responsibilities… how can we best fit trading into life?
How does one best determine their preferred market, timeframe and trading hours, and manage this while still allowing time for work, rest and play.