Hi, I’m a beginner and I think day-swing trading is suitable for Me considering my daily routine, my studies and work. And I want to learn more about forex trading, I just completed school of pipsology and now I’m demo trading, but I’m noticing that I spend almost my all day, in front of screen, just looking different pairs, not even taking trades, and now I can’t do my other work and even i can’t learn more from other sources.
So I’m asking you day or swing traders, that when should I start trading (suppose I’ll start at 5 pm).
So should I open my pc and start analyzing charts 2-3 hours before 5 pm or should I start my pc and start trading after 5 pm.
I know, I sound ridiculous and a very annoying question to all of you, but I’m confused, so please just answer me in simple and less words.
I never recommend day-trading for new traders - it is too complicated, too psychologically demanding, too addictive, too fast. Its too much like a video game.
If you must day-trade, push the time-frame as long as possible - at least 1 hour. Focus on 1 or 2 or 3 pairs only. Make a check-list of the chart characteristics of the trade pattern you wish to use. Look for those features, and use that pattern only. Every hour, as the last bars / candles close, look for those features - if they are present on a chart, take the trade: if they are not present, close the screen and go and do something else until 1 hour later.
Buddy, I am trading on hourly, 4 hourly and daily time frames.
I wanna know, that, newyork session start at 5:30 pm in my country, and I wanna trade only In that session, so should I only start my pc and start looking charts to finding opportunities, after 5:30pm,
Or should I start analyzing charts before 5:30 pm, like 2-3 hours before.
If you’re using a strategy that takes 2-3hrs to determine whether you take a trade or do not take a trade it is far too complex for a new trader.
Trading has a simple basis - you either buy because price has been rising, or you buy because price has been falling. As soon as you open the screen you can look back hours or days or weeks and see what price has been doing. You should be able to see the price action from the back wall of the room.
I think you’re not understanding what I want to say or, (I even think that I can’t explain myself, in words) but i get what you want to tell me and I got my answer.
Hey what’s sup homie , tbh don’t make it that complicated- I mean you can do that if you want . I just mark up/clean up my charts on the weekend, set alerts on Trading views , pick 3-4 pairs you want to look at & make those your baby’s . Once I see a set up I wait for a confirmation on the 4H and come back to check later , I get in the trade & then set alerts & check it so often . You wanna make the money work for you . If you wanna wake up early for London & New york you can , usually that’s when markets moves the best ,but tbh just pick what works for your schedule . I would say focus on charts to actually learn to market movement like Waves in the market ,but once you get some years in , you realize looking at the charts all the time doesn’t make you better , just give it some time you’ll figure how your own flow !!
. Once I see a set up I wait for a confirmation on the 4H and come back to check later , I get in the trade & then set alerts & check it so often . You wanna make the money work for you . If you wanna wake up early for London & New york you can , usually that’s when markets moves the best ,but tbh just pick what works for your schedule . I would say focus on charts to actually learn to market movement like Waves in the market ,but once you get some years in , you realize looking at the charts all the time doesn’t make you better , just give it some time you’ll figure how your own flow !!