• Nial Fuller

    NIAL FULLER Nial Fuller
    Professional Trader, Author & Coach

    Why Trading ‘End-of-Day’ Strategies Will Improve Your Results

     What is ‘End-of-Day’ Trading, what will it do for you and how exactly do you trade ‘End-of-Day’ strategies? Continue reading to find out…

    When I talk about ‘End-of-Day’ trading strategies, what I am basically talking about is trading based on the daily chart time frame. We are focusing on daily chart candles that are closed out, not candles that are still open. The actual daily close of the Forex market occurs at 5pm New York time, however, not all brokers provide charts that show the 5pm New York close. To make sure you are seeing the true daily close of the market, you need a broker that offers 5 daily bars per week that close at 5pm New York time. Here’s a link to get the right charting platform – New York close charts.

    What will trading end-of-day do for you? Well, if you actually do it, it will improve your trading results and greatly simplify the entire trading process. It does this through several channels; it reduces the amount of time and number of variables needed for trading which helps to naturally form the correct trading mindset because you aren’t watching charts all day (most traders’ downfall). Watching charts too long is what causes you to over-think and over-analyze and ultimately over-trade (and lose money). End-of-day trading also naturally helps you with money management and trade management through the set and forget trading approach that goes along with it. It helps to eliminate much of the second-guessing, confusion and emotion that plague most traders.

    Essentially, end-of-day trading gives traders a framework, that if properly utilized, allows them to avoid most of the trading mistakes that people make simply due to how we are wired. We are pre-wired, if you will, to seek pleasure and avoid pain, it’s in our DNA. This has served humans well for many, many centuries. However, in the modern world this type of wiring can cause many problems, especially with trading. For example: we naturally want to trade often because it makes us FEEL safe and ‘in control’ and it gives us an injection of endorphins when we hit the buy or sell button because we are full of the hope that we will hit a winner. Then, when that trade turns against us as it sometimes does, what do we naturally want to do? Avoid pain. So, we close the trade out for a small loss, only to then see it move back in our favor and go on to be a would-have-been winner, how frustrating! This is just one example of how we are wired to self-destruct in the market, there are many more.

    So, what does end-of-day trading do for you? Multiple things, but perhaps the most beneficial is that it gives you a framework to help you circumnavigate your own tendencies and ‘faulty’ trading wiring. Read on to learn more…

    Who’s really in control? (you or the market)

    The only thing you can control in trading is yourself. If you over-trade and trade like a machine-gunner rather than trade like a sniper, you are not controlling yourself and you will end up being controlled by the market. The market can affect your emotions in very negative ways that cause you to give your money to it very quickly. The only way to counteract this is by controlling yourself.

    The reason many people are attracted to day trading is because they feel more in control of the market by looking at smaller time frames and jumping in and out of positions frequently. Unfortunately for them, they have not figured out that they have the same amount of control as the swing trader who may hold positions for a week or more and only looks at the market for twenty minutes a day or even less. Neither trader has any control over the market, but day-trading and scalping gives traders the illusion of more control. The only thing we really have control over in trading, is ourselves.

    What is a good approach to make sure you are controlling yourself and not being controlled by the market? End-of-Day trading!

    Here’s how it’s done…

    How to trade End-of-Day…

    The best way for me to ‘explain’ how to trade end-of-day strategies is to simply show you. The proof is in the pudding, so to speak, so let’s take a look at some of my favorite price action signals and how you can trade them in an end-of-day manner.

    OK, first off, we are going to check out how you can trade end-of-day with my inside bar price action pattern. In the chart image below, notice we had an existing up trend before the inside bar(s) pattern formed, and we typically like to trade inside bars with the daily chart trend, so we were looking good. Also, of course, notice we are on the DAILY CHART time frame and the inside bar pattern was closed out before our entry, so we were trading end of day.

    Now, here is where the REAL POWER OF END-OF-DAY TRADING comes in…

    In the above inside bar example, you will notice that the trade worked out nicely. This doesn’t always happen of course, because winners and losers are randomly distributed for any trading strategy, but in this case, it was a winner. The most important thing to notice is that you literally had to do nothing but place your entry order, stop loss and profit target and the market took care of the rest. You could have literally gone on a 7-day, 6-night Caribbean cruise, not looked at your trade and come back to a 5R winner by employing set and forget and trading this chart end-of-day.

    You have eliminated the most difficult element of trading; trade management. You’ve taken your human emotion out of the equation by trading end-of-day and setting everything up in advance and just letting the trade run. The results speak for themselves!

    Let’s look at another example…

    Now we are going to check out an example of trading the pin bar trading strategy in an end-of-day manner…

    In the chart example below, we had a solid and defined trading range in the Gold market when we got a daily chart pin bar buy signal at the bottom of the range (key support level). Actually, we got back-to-back pin bar buy signals at this key support level, so we had plenty of confirmation and confluence for a nice end-of-day trade entry. Coincidentally, we did discuss this exact pin bar setup in our daily members market commentary the day it formed as a potential buying opportunity.

    As of this writing, a solid 3R profit was possible from this trade setup, without any involvement needed on your part. You could have entered this trade and let it sit, come back 11 days later and you had a 3R profit in the bank. Now, how easy is it to ignore the market for a week or two while your trades play out? Perhaps not as easy it sounds, but if you want to trade end-of-day, you must believe in the power of patience, in other words, you have to fight your own desire to over-analyze, over-think and over-trade, and you will come out WELL ahead of 90% of most traders.

    Before we move on to our next example, here is a little-added benefit of daily chart or end-of-day trading that whilst obvious, needs pointing out…

    Many traders prefer to trade off these daily chart signals because it is a less stressful way to trade since you don’t have to ‘wade through’ hours of less-significant price action. Think about it, would you rather sit at your charts trying to find a ‘needle in a haystack’ on the 5-minute charts or sit back and analyze the daily chart time frame and only focus on obvious end-of-day setups?

    Don’t be fooled into thinking there are more ‘opportunities’ by looking at the short time frames, it’s just not true. There ARE more price bars, sure, but are they really opportunities? Or are they just noise? Remember, the higher in time frame you go the more significant each bar or candlestick becomes, and the daily chart time frame is truly the sweet-spot for a trader.

    Let’s look at an example of trading end-of-day with the fakey pattern

    In the chart image below, we see a fine example of a fakey pin bar combo pattern which formed in-line with the underlying daily chart uptrend in the Dow Jones Index.

    Had you entered this fakey near the breakout of the inside bar or pin bar high and stop loss below the mother bar low, you would currently be up a nice 2R reward. The ‘catch’, if you want to call it that, is that you had to sit on your hands for about 10 trading days before you realized that reward.

    Most traders were over-trading and blowing out their accounts during those 10 days. Do you want to be the trader who is patiently waiting for high-probability trades to play out, like the ones above, or do you want to be the trader who is trading intra-day during those 10 days? I can guarantee you the trader who entered one trade and waited patiently for it to play out was FAR better off than the guy who day-traded that whole time.

    Conclusion

    You now understand why end-of-day trading strategies can significantly improve your results in the market, and you also have a basic understanding of how to trade end-of-day. I don’t want to sound like this is easy, but it is far easier to trade end-of-day than the way most traders trade. Most traders trade way too much, they meddle too much with their trades and they expend too much mental energy on their trading. This leads to losses, losses and more losses.

    The difficult part of trading lies in conquering your inner demons, not in finding entries or in comprehending how to read a price chart. What I have laid out for you in today’s lesson and what I explain in much greater detail in my trading course, is exactly how I use end-of-day trading strategies to circumnavigate my own faulty human wiring (we all have it) as it applies to trading. By controlling myself and only focusing on that, I can truly take advantage of the incredible opportunities the market offers me, however frequently or infrequently that may be.

    I WOULD LOVE TO HEAR YOUR COMMENTS & STORIES BELOW :)

    QUESTIONS ? – CONTACT ME HERE

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    Nial Fuller

    About Nial Fuller

    is a Professional Trader, Investor & Author who is considered ‘The Authority’ on Price Action Trading. His blog is read by over 200,000+ followers and he has taught 25,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
    Nial Fuller Professional Trading Course Preferred broker 2020 v1
    1. Gabriel

      The hardest part of “End-of-Day” trade is the emergence of pattern is limited. Maybe once two months. The circle of “feedback-adjust-prove” takes too long time.

      Reply
    2. POLA P

      Nice article

      Reply
    3. EL Prem Ayo

      Thank you NF for this wonderful piece. But my concern is about the opportunities in end of day trading. It seems insignificant unlike d intra day trading. Any help here? Thanks.

      Reply
    4. Благодарность

      Mr. Nial! article is excellent, itself I study on this strategy, thank you

      Reply
    5. Благодарность

      Excellent article Mr. Nial! very good strategy, thank you

      Reply
    6. richie

      Hi Nial, thank you for wonderful article on trading daily timeframe. You did mentioned that you do about 4 to 5 trades a month and unless you are trading standard lots trades, your gains will not be large. So, how does the average trader makes money trading daily timeframe?

      Reply
      • Nial Fuller

        I don’t think the lot size is relevant, the only relevant point is will the trade/strategy be profitable. Because, once you have mastered a solid strategy/edge in the market, then the profits take care of themselves over time. 5 trades in a month is more than enough to start building an account. A small account or a large account, small lot size or big lot size, does not decide your success in trading, your ability to trade does. Money will always find a good trader.

        Reply
        • Daluxolo Mbangxa

          I tend to agree with you. If you have patiently waited for a good signal and entered the market at the right time you should not be worried about the lot size.

          Reply
        • freddy

          thank you so much sir

          Reply
    7. gennadii

      The Forex market pays very well for patience. Excellent article. Thank you Nial

      Reply
    8. Sydney Edgar Wentink

      Patience! Patience! Patience!

      Reply
    9. Douglas

      I cant wait to learn from your next article Nial. So educative indeed

      Reply
      • Homma

        U hve given me the key to my forex success . I like ur articles. Tank u

        Reply
    10. Roy Peters

      Daily charts help a lot. Thanks Nial.

      Reply
    11. Cahyo Adi Nugroho

      Sounds great,Nial…Really perfect idea, didnt occur to me…

      Reply
    12. Valerie Riordan

      Great reading Nial. I liked the sound of end of day trading.

      Reply
    13. Gregg Davis

      Love this strategy, I am surprised not to see an Engulfing candle entry?

      Reply
    14. Blessed Isaiah Kunat

      Oh thank you Nial this has opened my eyes the more on the end of day tradin strategy. Meanwhile considering financial news during this periods when ones order has been triggered how should a trader act to that?thanks

      Reply
    15. Abdul Momin DT

      THANKS

      Reply
    16. ABDUL MOMIN

      thanks

      Reply
    17. irshad ullah khan

      thanks nial fuller .i want to learn from you some things

      Reply
    18. Ramandeep Singh

      Very Cool

      Reply
    19. Koke Uhuru Murombo

      Hello Nial, thanks so much for your articles, they are really helpful. I would like to ask if your 3 main strategies,(ie Inside bar; fakey and pinbar) work well on smaller time frames like H1 and H4? Again i would like to ask if there are any links which expalin your 3 strategies a bit deeper as i do not have money to join your community yet.I have USD100 in my MT5 account. Cheers!

      Reply
    20. Carl Hammet

      thanks Niall wonderful as always. its true the hardest part of trading is to prevent yourself from trading WHEN THERE’S NO SETUP. It took me years discipline myself due to lack of knowledge in this. It hits me when I stopped trading, shift to Daily chart, and focus my trade on Tuesday – Thursday where its easier to make a profit (according to my own research). Thank again and looking forward for your next article. :-)

      Carl Hammet

      Reply
    21. R Mngadi

      Great and very informative article. I must admit my serious drawback is my lack of confidence /cowardice. I tend to panic and close my trades early, only to realize that if I had the courage to hang on i would be doing much better.

      Reply
    22. mpho

      Thank you Nial my trading skills have improved because you this days, i analyses almost like you. there is a huge from my account since i read you article. even if still panic
      God Bless you, thank you.

      Reply
    23. andres

      great post!! patience is the key

      Reply
    24. Mike Coe

      I love how frequently you post new lessons, Nial. It is enormously comforting, as well as being the oxygen feeding the flames of positive thinking; giving rise to overall success in the markets. Thank you, thank you and thank you.

      Reply
    25. Laurentiu

      Nial, you are one of the most serious and trustworthy traders out-there, giving so much useful information to wannabe traders for free; this clearly states you are very profitable as a trader. Please stick around, people like you are a blessing for forex newbies.

      Reply
    26. Matthew

      Clear & very enlighted articles. Thank you. Btw may I ask 1 question, in your Pinbar example with the Daily Charts you just using only EMA 21 By Close, where is the EMA 8 by Close ?

      Reply
    27. antanas

      Hi Thanks Nial for good article just question when candle is closed in and of the day then look to enter setup I meen late evening in Europe.

      Reply
    28. SAB Adesanya

      Great masterpiece as always from the Guru down under! Pure piece of mind. Pure genius!!

      Reply
    29. Andrew

      Thanks, Nail for the good write up. Trading using the daily chart really help eliminate the risk of over trading and busting your account.

      Reply
    30. pawel_warsaw

      Hey Nial,

      Thanks for next portion of sound knowledge.
      Dont’t you think that this approach requires to have a larger amount of money to be risked for 1R if we want have significant profits?
      Or alternatively requires to follow many more markets/currency pairs?

      Reply
    31. kadi17

      Thank you Nail for this article.

      Reply
    32. Paul Hopper

      Great article Nial and I agree wholeheartedly this is the only way to trade, takes the stress out of trading and gives the results as you have shown above.

      Reply
    33. Lutendo Nesh Neshunzhi

      N.F i can’t thank you enough. To be frank everyday I read your articles I gain something out of them such as confidence, patience and many other thing. End of trading together with TSL works. This year I opened real account and I understand market trading because of you Fuller.
      Thank you so much and God Bless You.

      Reply
    34. Nofrizal

      Thank you, Nial…Learning much from your article…

      Reply
    35. Van Ngoan

      Nial thank for your sharing. Could you provide more method trade when down trend?
      Thx

      Reply
    36. Maria Pirotta

      Thanks Nial for a great article.

      Reply
    37. KRISTOFA OKENTA

      It is the truth without dispute.

      Reply
    38. Wilfredo M. Ambrocio

      This makes everything clear to me now how to “Trade End Of Day Strategy”. This is what I miss to do in my trading. Hopefully this coming month, my trade will improve much better and my capital will start to grow. Thank you Mr. Nial Fuller for your very clear sample of each strategy. God Bless!

      Reply
    39. Khesiwe

      Great article thanks Nial

      Reply
    40. Constance

      Hi Nial, your article is so interesting, may I have your advice- my timezone is GMT+2, how can I trade end of the day strategy cause 5pm New York time for me is 12pm in South Africa

      Reply
      • christopher

        great piece N F, South Africa 12am at New York 5pm

        Reply
    41. André Hofland

      When I was first introduced to the world of trading nearly 6 months ago, my heartbeat, nerves, emotions, breathing and adrenaline showed the same pattern and speed up and down as the lower time-frame candlestick charts. I did not understand how people could sit infront of there screen watching this for a whole day. I had come almost come to the conclusion that trading was not going to be my thing and then I came across your website and articles. I felt such relieve to read that there is another way to learn to trade. I have been a fan ever since and never been more chill while trading. From the bottom of my heart, I thank you for all your knowlege you share and provide to us. I am no master yet, but I have no doubt I will manage in the long run and I am enjoying the process.
      Thank you very much Nial.

      Reply
    42. Philip

      Awesome article Nial! I have been trading some of those trades above i.e. gold and pound based on the daily but got out too quickly because I saw “warning signs” on the 4 hour. Thanks to the above article I will stick to just what the daily says.

      Thanks, Nial :-)

      Reply
    43. Mary

      Thanks Nial for those insights

      Reply
    44. Kindeca

      The greatest challenge I face in my trading Carrie is the demons in me, the way I can overcome is by applying the end of day trading strategy. Thanks so much

      Reply
    45. Mohsen Arzani

      Thanks Nial for this great article. You’ve completely changed my trading perspective. My trades has improved dramatically.

      Big fan of you from Iran

      Reply
    46. Lukasz

      Hi Niall. Great article as always. I tried to be a trader daytrader but after 4 years I realized that I do not have a chance to do it. I started trading some time ago like my friend who sent me your Niall site. And since I started trading from h4 to d1 interval. My trading is finally starting to look better. The only thing I do not agree with is ignoring the macro economic calendar data. I learned to read this data and which are really important. Thanks to that I manage to take the profits in time before giving the market what he worked for me.

      Reply
      • Aaron

        How did you achieve this? Do you mind sharing with us?
        Thank you

        Reply
    47. endang

      hi Nial,i got few question about how you trade,do trade only during US market open or only end of day of the week.thanks alot

      Reply
    48. simonmwangi

      Still learning big from you man

      Reply
    49. Mavhungu Lufuno

      Since I started to read your articles my trading skills improved a lot, trading daily charts avoid many things like over trading, noise in the market etc. Using Trend, Level and Signal in daily charts make me win 3 trades in the row and it allow me naturally to trade like sniper , it works. Because i work as a teacher i just place my trade and go to work ,that is set and forget after identify trading edge . THANK YOU NIAL FULLER FOR BEEN THERE FOR ME…… South Africa

      Reply
    50. Ivan

      Thank you, Nial, for another one amazing article.

      Reply
    51. Igor

      Thanking you Nial.

      Reply
    52. slivester

      Tq sir for the great art of trading…

      Reply
    53. Jonathan

      This is true most traders trade to much and end up making loses and most of the time I give up to early only to realize that if II made a big sellstop may be for week the trade was going in my favour. I like how you analys this strategy

      Reply
    54. Shaikh

      Thanking you Nial Fuller
      Slow but sure I am learning a great deal from you.
      May God bless you.

      Reply

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