preparation time before trading
I am trying to understand the preparation time before trading. Many USA news are coming at 8:30 am.
If the bank is open for traders at 8am, then it looks like traders have 30 min. for all the preparations.
On other hand, I have seen, that Goldman Sachs traders can start much earlier.
What is a normal preparation time for bank FX traders?
Appreciate your answer.
Well if they have their finger on the pulse it will take a few minutes at most.
If you are consistently analyzing the markets each day then you too should have very little prep time. The main thing is identifying what's happening beforehand. Then you can simply overlay the 'new release' and see what happens.
Also if you have very little understanding of the market then you could seriously prepare for a week and still not know what to do.
Most bank traders arrive around 7am.