Traders Union conducted research to determine how trading timing affects traders’ performance in the gold market. The analysis showed that most losses are linked not to strategy, but to choosing the wrong time to enter trades.
The Traders Union research, “How Retail Traders Trade Gold by Time of Day,” is based on a survey of 1,050 market participants, with findings further cross-checked against data from CME Group and the Bank for International Settlements (BIS).
The results showed that traders achieve the most consistent performance during the overlap of the London and New York sessions. This time window was identified as the most effective by 62% of respondents, while only 6% reported their best results during the Asian session.
At the same time, the Asian session proved to be the most challenging period for gold trading. The largest losses during this time were reported by 47% of respondents, which the authors attribute to lower liquidity, weaker market activity, and less reliable trading signals.
The main mistake traders make
The research found that a significant share of traders continues to operate at suboptimal times despite clear differences in market conditions. Around 22% of participants do not follow a fixed trading schedule, while others actively trade during low-activity periods where signals are less reliable.
More than half of traders (52%) rely on macroeconomic news, but often execute trades outside high-liquidity periods. As a result, even sound ideas are implemented inefficiently due to poor timing.
Another risk factor is the dominance of short-term trading. About 66% of traders operate intraday, which increases exposure to market noise, raises decision-making pressure, and leads to less stable results.
When to trade and how to reduce risks
Based on the findings, analysts conclude that traders should focus on high-liquidity periods, particularly the London–New York session overlap. During this time, the market shows clearer price movements, and trade execution conditions become more predictable.
At the same time, trading during low-activity periods, especially the Asian session, should be avoided or approached with reduced position sizes. In such hours, the market often moves within a narrow range, increasing the likelihood of false signals.
Analysts also recommend monitoring the macroeconomic calendar and avoiding excessive activity during sharp news-driven volatility spikes. Overall, choosing the right trading time can significantly improve consistency even without changing strategy.
Earlier, Traders Union also published research on the behavior of retail crypto investors.
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