When is the end of the trading day for you?

This is specifically for daytraders.

Do you have a specific number of hours to do trading (eg 8 hours), a specific % amount (eg: end the day when gained 1% or lost 2%), a specific number of pips (eg: gained 20 pips or lost 40 pips). Or any other criteria for that matter?

So how do you determine the end of the trading day for you? We can’t just trade for 12 hours. There must be some rest too.

thanks

Not that I recommend it, I spend 12-16 hrs per day at screens. Trading, testing and learning. Once my daily target is reached, I scale down to 0.1% trades

^ any loss limit per day before you call it a day and say “well its a losing day, I will try again tomorrow”?

everyone has their own opinion, the way i trade, if I have four losing trades on one pair then I will not trade that pair again during that session. This is not a recommendation.

Not suggesting you shouldn’t do that but, it’s probably better to step back and objectively analyze the market (and why it’s giving you false signals) instead of just disregarding it as some sort of evil.

That is exactly what I do :slight_smile: one should always analyse all trades, good and not so good, you won’t last long if you don’t

As a day trader My day is done , When price moves so little I can’t trade it anymore. Un like most people I can not quit after losing trades. I will rest better after making a couple of winners even small ones before I quit for the day. If your doing this for a Living then you start to feel the same way. because there might be days your strategy doesn’t give as many entries as you like, Then you can start to enter on bad signals… So trading while trading is good and walking a way when it just doesn’t show your entries is best.

If you do have a string of losses and don’t know why. Yes you should quit until you figure out what is happening. I know some that if they start taking a greater precentage of losses switch to their demo accounts until they figure it out.

If you are truly ready to trade for a living you should have no doubt why a trade failed. No guessing. If it was you bad analysis or it just didn’t work . But the trade is the same . If your stop got hit and the entry was right. then it was a successful trade just not profitable.

Happy Trading To You Ken

Hi Ken
How many pairs do you Trade ?
Dave

I do not consider the day (24hours) for trading, but the week, since interresting move could happen while you sleep or even early in your moning, depend of the place you are located.

So all depend of you system and the tools you use. But if you have some personnal experience in trading, I advice you start making some research in automatic trading in order to find a tool which will suit to you r system money management

I focus on just two… GBP/USD and EUR/JPY . I like the mix these two provide not having any currencies in common can have totally different Action. Plus I like having a Yen pair for the Asian session. I do trade other pairs from time to time but these are my primary ones.