I live on the east coast of the US and have been following mainly EURUSD in my demo trading, but I wonder if maybe a switch to trading Asia later in my evening might be more fruitful. I might have more time to focus on the charts and studying and reading.
I work during the day, and have haphazardly tried to watch the markets here and there during the work day, place some trades, but maybe I’m setting myself up for failure trying to do the day job and trading at the same time.
What are you other working bees doing? Trade in the evenings? Wake up butt crack of dawn or in the night to do some stealth trading, maybe trade when the UK wakes up? Maybe you all can share your timing with me of how you fit it all in.
Thanks for getting the brain working, @mtirado76, with your suggestion.
Don’t leave out a change in trading system, moving to higher time frames. Intraday or intraweek. Less time needed to check the charts could be the solution. (until you become consistently profitable and you can give up your dayjob )
I’m on the east coast myself, in MD. I work a day job also, but I’m blessed to be able to monitor the charts while at my job. I have a desk job, so that makes it easier but it’s still not the ideal set-up for me. I rather be in my own personal space and trade so I’m focused on just that alone. I’ll be able to do that after trading replaces my income. Sometimes I set pending orders for the EUR session in the early morning because I need at least a few hrs of sleep before I get ready for work in the morning, but I’m better at trading when I’m able to monitor the trades than setting up orders and checking later. So, I tend to trade more during the US session
Thanks for the info. How’s that been going? Did you start on those TFs or make the switch after getting destroyed on the lower TFs?
Great tips to keep in mind. Thanks!
Are you talking like early AM? If that’s case, are you walking up even earlier to do your analysis, and then place your orders? Or are you also placing pending orders?
Thanks! Getting the timing right, I think, we help me be more successful than just jumping in and trading a little here, and then a little there. It’s not really systematic at this point, which I think is hurting my progress.
Ran all sorts of compounding spreadsheets. Figured out initial investment and I would become a millionaire in 50 trades.
Woke up from my dream and started looking at for hour, daily and weekly charts.
I’m sure folks can make money on much lower time frames. Not me. Given my work schedule I found a way to begin my trading without sitting in front of a screen all the time.
Yea, its right here. Don’t have the time, and I don’t know if I really want to sit hours upon hours behind the screen. I wonder if anybody has studied if your screen time when trading and success at trading have any correlation.
the more time I spend studying the charts, the better my analysis is. I highly recommend anyone that is serious about learning how to trade, spend as many hours as they can on the charts. If you ask any profitable trader, they will tell you they spend hours in front of the charts in the very beginning. Sure, that might slow down after a while, but in the beginning you must put in those hours.
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