Some people are a little bit mental.
I mean, I’m sure they’re lovely and everything, but just raving mad. In a nice way.
I met a trader on Twitter yesterday who was trading FX and the US markets, which of course is very un-crazy and really rather normal. What I found slightly nutso was that he was getting up to trade currencies at 2.30 am, then the US markets at 9.30 am and was considering moving to Australia because as you might imagine, his sleep patterns suck.
While I certainly can’t fault his decision to move to Australia – it’s a rather nice place to live, after all - moving to Australia to make your trading life easier is crazy. Moving house down the road is a big enough deal, moving continents is huge.
But it’s not an uncommon thing. I know Aussie traders who’ve done the opposite and moved to the US to take advantage of the massive markets they have there, only to return a short time later.
They do come home a little wiser, however - they come home realising that it’s not the market that makes the trader profitable, it’s the other way around.
The trader makes the market profitable.
The grass is always greener in a different market, and some time zones do have advantages over others. But with the good comes the bad – the Aussie equity market is very different from the US one, for example, and might not be conducive at all to the intraday strategies a US trader is used to, even though it is possibly more conducive to trading $EURUSD on the London open.
You wins some, you lose some. It’s a matter of trading the markets that work for you, not against you.
As traders we have the flexibility to trade when we want - there are markets trading around the world all day pretty much 6 days a week. There is zero reason to be up in the middle of the night trading unless you’re a vampire and that is your preferred time to be awake.
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