Setting A Bitcoin Schedule and a Written Examples

Bitcoin is a market that's global in nature. The global nature of the btcusd market means that it's open around the clock through the week. Bitcoin traders therefore have a lot of flexibility when it pertains to choosing when to trade. However, not all the times are suitable for placing trade transaction.

Investors should set-up a schedule based on the most active Bitcoin hours which are the best hours to help maximize profits.

USA & London sessions are the most active times. These 3 market sessions make up the biggest volumes of trade transactions from across the world/globe on a daily basis, although Asian is one of these three market sessions its best not to trade or transact during this particular market session.

There are also over-laps in the between the 3 sessions, where 2 sessions are open at the same time, these overlaps are the most active periods. These overlaps provide a great opportunity to trade in multiple markets at once and maximize your potential profits.

Best overlap is the one that occurs between the US & London markets. This is when the btcusd opportunities are the most active and more trading opportunities are present.

Asia session is the least active of the 3 major sessions. All financial trading instruments move slowly or consolidate at one single point throughout the market session. This is not a good time to be in the btcusd market - this is the best time to take a break.

Because the trading day lasts all day & night and it isn't possible to stay up all night long, traders should set up a workable schedule. By gaining an understanding of these trading hours, trader can set appropriate trading hours to increase chances of maximizing profits.

When setting up a trading schedule, it should accomplish the following objectives:

1. Familiarize yourself with the various different sessions. These are: New York session, the London session, the Tokyo market session.

London Session - 3 A.M. - 12 P.M. EST ( 8:00 GMT to 1700 GMT. )
New York Market Session - 8 A.M. - 5 P.M. EST (1300 GMT to 2200 GMT.)
Tokyo Session - 7 P.M. - 4 A.M. EST (00:00 GMT to 9:00 GMT.)

2. Trade during this time when bitcoin prices are most active.

3. Plan a workable schedule. So as to keep a balance between your trading time & time to get adequate and enough rest. Best time is between 3a.m. To 5p.m. EST

Bitcoin Market Sessions and Market Overlaps - Example illustration of a Written BTCUSD Trading Plan - How to Write a BTCUSD Trading Plan

When the USA and UK sessions are both open bitcoin prices will in general trend up or down and move a good number of pips in one direction. As a analyst, this time the technical indicators will provide good and profitable signals that catch the trend.

When the bitcoin prices are trending & moving fast traders will find it easier to make money.

On the other hand, during the other times for example the Asian session, the bitcoin prices will be in a range movement and traders using indicators will have a hard and difficult time earning profits as the indicators will in general will tend to be more prone to whipsaws. One will find it difficult to make money in this range bound bitcoin price action movements.

It is 10 times easier to make money when the bitcoin market is moving up or moving down than it is to make money when it is ranging.

During the best times to open orders, i.e. 800 GMT and 1800 GMT the bitcoin prices will bitcoin trend in one direction, during other times like Asian Session, the bitcoin prices likely to be Ranging.

London session 08:00 GMT -16:00 GMT.
US market session 13:00 GMT - 22:00 GMT.
Asian market session is a relatively slow for all instruments and not suitable at all.

Basically your trading plan should target 800 GMT & 1800 GMT as the time that you trade instruments.

Explanation of a Schedule on a Bitcoin Plan

The example shown below shows how to specify your routine and time of day to watch the btcusd market. This will form the basis and source of your schedule. The timeframe that you use will also be specified and mostly it will depend on what type of trader you are. The time set for this example is during the day when the UK & US sessions are open just as is shown & displayed on the cryptocurrency example illustrated below.

Example of a Written Bitcoin Schedule - Example illustration of a Written BTC USD Crypto Trading Plan

Written Bitcoin Schedule - Bitcoin Plan Sections

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Setting A Bitcoin Schedule and a Written Examples

When setting up a trading schedule, it should accomplish the following objectives:

Explanation of a Schedule on a Bitcoin Plan