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 is open around the clock throughout the week. Bitcoin traders therefore have a lot of flexibility when it comes to choosing when to trade. However, not all times are suitable for placing transactions.

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

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

There are also over-laps in the between the 3 sessions, where two 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.

The best overlap is the one that occurs between the US and London markets. This is when the bitcoin trading opportunities are the most active and more opportunities present themselves.

Asia session is the least active of the 3 major sessions. All financial instruments move slowly or consolidate at a single point throughout the market session. This isn't 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 hours, trader can set appropriate hours to increase chances of maximizing profits.

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

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 and time to get adequate rest. Best time is between 3a.m. To 5p.m. EST

Bitcoin Market Sessions and Market Overlaps - Example 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 generally trend up or down and move a good number of pips in one direction. As a trading analyst, this time the indicators will provide good & profitable signals that catch the trend.

When the bitcoin prices are trending & moving fast traders will find it much 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 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 bitcoin price action movements.

It is 10 times easier to make money when the btcusd 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 Range Bound.

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

Example of a Schedule on a Bitcoin Plan

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

Example of a Written Bitcoin Schedule - Example of a Written BTCUSD 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 schedule, it should accomplish the following goals:

Example of a Schedule on a Bitcoin Plan