I always feel lucky to be staying in Singapore, we get to trade all markets opening hour. From Asia to Europe to America, Last market to open @9:30pm Singapore time (Dow Jones).
In Asia hour, we have Nikkei 225, SiMSCI (STI equivalent), Taiwan & China A50 under SGX (Singapore Exchange). We also have 6A (Currency Futures for AUDUSD).
Let's take a look at the opportunities for all these markets before noon (Singapore time) today.
Nikkei 225 -- we only have one trade opportunity this morning that generate 13 tics profit.
[one tick of NK225 = Yen 2,500 (equivalent to $20 per tick)
Next Index to open is Taiwan (Open at 8:45am Singapore time).
We have 2 opportunities that generate a total of 18 ticks profit.
[one tick of TW = $10 ] * So, your profit depends on the "Size" that you place on each trade.
What about 6A? It has generated 2 signals with a total of 12 ticks profit.
[one tick of 6A = $10 ] * So, your profit depends on the "Size" that you place on each trade.
For illustration purpose, let's assume that each trade on all 3 contracts are using 5 lots per trade.
For NK225, 13 ticks profit X 5 lots X ~$20/tic = $1,300
For TW, 18 tics profit X 5 lots X $10 = $900
As for 6A, 12 ticks X 5 lots X $10 = $600
In total, the trade setups have generated $2,800 out from the 3 contracts before lunch.
The key to stay consistent with profitable trades for most people is not adding more and more indicators or some new trading software, rather it is doing less (We only have 2 setups or less for the whole morning). Look out for high probability setups that can generate more profitable trades, but also keep in mind that for every trade you took are with pre-determined risk amount.
You cannot avoid cost in doing any kind of business, so is trading. Since this is the fact, then you should be mentality prepared that any trade could be a loser.
The only way you will make money in this business is by following proven trading strategies that you’ve mastered, strictly controlling your risk and allowing your trades to play out.