Pacific Time Zone Is One Of The Worst In Crypto
They say the West Coast is the best coast, but not in crypto. Being that the crypto markets are trading 24 hours a day, it can be a serious downside to live basically at the end of the day as far as time zones are concerned. Being the only thing that comes after this is Alaska and Hawaii, it's really not the most ideal on a traders perspective.
Even in the US markets, such as the stock market, they open at 9:30 EST, which is 3 hours ahead of my time, so to trade the daily open, I would have to be ready to start trading at or before 6:30am. UGH.
For visual perspective, there is pretty much just ocean between me and the international date line, which starts the next day:
What happens in the crypto markets though is that while I am all in bed and asleep, Asia starts to get up and run these markets in some crazy directions at times, so that when I wake up in the morning, there is no telling what I am going to see... Such as this morning waking up to a nasty little dip that may play out into a bull trap... Hint, check out @coinlogic.online's post today to learn about bull traps, lol.
Anyway, back to the subject of time and being on the west coast...
When you are trying to effectively trade these markets, if you are attempting to do this on a full time basis, you have to have a different sleep schedule than most if you are trying to trade short term scalps. It's best to use alarms and such on your TradingView charts to alert you when things are happening in your set strategy. This can be a way to wake you up so you can check your trades, but really who wants to do that all the time, lol? I know I don't. Sleep is extremely important. I am learning this as I get older.
Another issue with the this time zone is that many of the people that I talk to are either on the other side of the country, in Europe, Africa, or Asia! We are living in a global world, and the west coast can be a nightmare when trying to schedule calls. I am having to get up and going allot earlier than I want at times to have meetings with developers and such that live on a different side of the globe. And try scheduling interviews, lol. That's a fun time.
Anyway, this post was sparked by a few recent events where I missed some trades that I was watching, but I was sleeping while they played out and missed out on some good opportunities, both up and down. Also having to take some really early morning calls to do business. Luckily I have avoided video calls in a couple of cases and was able to just stay in bed, lol.
Anyway, if you live on the west coast of the US and are in the crypto industry, these are just some things to keep in mind.
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Reminds me of when I lived in Europe and was away from everything that was happening back in New York time. People would contact me at 3:30 PM ET, and not understand that it was night and I was already in bed with Germany being six hours ahead of the east coast. So I feel you, but imagine how they must feel in Alaska? East to west, it's 2,400 miles. North to south, it's 1,420 miles, Whew! The state is so big, that part of it shares the Hawaiian time zone.
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Yeah I am sure those in Alaska and Hawaii have the same issues, lol. I think I even said something about that in the post. It’s interesting. I am actually thinking about getting a night time hotel job just so I can trade with Asian and European markets markets then end my work day with the US opening bell, trade for a couple of hours and then go to bed, lol.