How much chart time should one put in whilst learning on how to trade? Is six hours a day enough for starters as sometimes there are other pressing matters to tend to during the day as im looking at a mixed intraday trading swing trade style
That depends on individual. Every one hv dif trading habits. From 1 to 2 hrs till the market close? I can’t say is 6 hrs enough… For mi I’m a driver. I drive 12 hrs per day . Start from 6ato 8pm. N my trading platform is on from Morning till Landon market close at 11pm. So it more than 16 hrs per day. Some traders only use 1 or 2 hrs per day.
Hi,
It is based on traders. If you want to do short term trading, use 30m, 1hr time chart. For long term trading, use 4hr and daily time frames. Learning is always to be done by every trader. Analyse the market mainly on the overlapping of London and Newyork session. It occurs between the timings 8am EDT to 12pm EDT. Large amount of transactions occured during this session. Use your strategy in that time period. It does not mean that other sessions are not important. You should also learn the movement of the market in other sessions.
- Jim
Like Alanlim3 stated, it is strictly individual. Each person will probably give you a different answer. There are no rules for this. It is totally up to you, your knowledge, skills and your mentality. It depends on the spare time you have as well because if you are not a full time trader and have another job, it will be a bit more difficult and it will take longer to learn. But that’s ok, you shouldn’t give up. The more experienced you become, the less time you will need for trading.
The more you sit infront of the screen the better you’ll become. That’s a given. So if you have time , sit through different sessions until you feel nauseous. No joke. You need put in a lot of hours into screen time. My suggestion is to observe from 1min charts up to 30min. Its going to be hard juggling through different time frames. But later on you’re going thank this multi time frame observation, it’ll come in very handy.
Wow! How do you manage to drive and analyze the market at the same time, isn’t that dangerous?
Now back to the main topic
Basically the more, the better. 6 hours sounds enough, but maybe not 6 consecutive. I doubt you can stay focused that long without breaks. Plus if you make brakes you will be able to observe more than one trading session (what Nebula9 suggested), which could help you get better overview of the market.
Power!!! Hit the point!!! Really no joke man… When start I been looking into all time frames till my eye going to cross with each other. I was blur… Slowly my main time frames is 10m. But will look at other time frames as well. It really help alot. Until now I’m still looking at chart almost 12 hours per day until I finish work I’m still looking at it till I slp… Really no jk man. Maybe it the passion n interest.
Haha ofcourse I can. Maybe I’m used to it. My driving side my tablet n phone is mount beside the door not the windscreen… Haha. Easy access
Wow man that sounds like a decent setup for multitasking. Great that you can balance your job with the trading!
Safe trades (and driving ;)).