Daytrader; What's your daily routine?

Trading Discussion Trading Lifestyle
21

That may be the most structured routine I’ve ever witnessed. Bravo!

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22

Far from being a full-time trader lol. I trade only when I can which isn’t a lot of time really. Always amazed to see full-time traders here! So happy you made it!

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23

Thanks mate! It will be really exciting if you share how you spend your day with trading. :slightly_smiling_face:

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24

Haha, blushing now, so much praise I hope it will not bring ego in me, staying low key is other trait of a trader, no? :innocent:

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25

Exciting definitely isn’t the word! Haha

At the start of the day I’m trading and reviewing trades. That takes about 4-5 hours. After that, I might go outside for a bike ride.

I’m really just focused on forex right now. I’m doing research on meta now. VR and AR are new to me.

There’s nothing exciting about my day. I’m in a phase of personal development, so the fewer distractions the better.

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26

That’s pretty nice routine, wish you good luck with your research! :+1:

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27

Your thread is motivating me to work on one of my small accounts.

It would be cool to try to build up a small account.

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28

Why don’t you trade more? Responsibilities or uncertain about forex?

Everyone has different circumstances. I just want to say that if you want trading to play a larger role in your life, make the necessary changes.

I read your comments, and you’re a smart trader. If you want to trade more, you’re fully capable. But if you have other responsibilities to tend to, then I understand.

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29

This is the better way to have good and stable returns. Which pairs BTW?

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30

I trade whatever has volatility. All crosses. Major, minor, exotic. I don’t care.

The super wide spreads will make me think twice, though. Haha

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31

Good day to all,

First I would like to thank for the great topic :slight_smile:
Depending of whether your are full time trader or just using Forex market as a second income source.

For the first one, I personally start my day at 9:30 ,before 2nd 4-hour timeframe candle close and finish y day at 18:00 when the 4th 4-hour candle closes. Why I am doing that?

It is just because I act as a full day employer and use 1 hour chart for my analysys.
To be continued…

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32

Yeah just way too many things going on right now. It’s not my priority but I agree that I could def improve a lot if I just spent time and effort on it. I put on trades every week or so just so I’m still “in the game.” Spending a few minutes here also helps me stay interested/engaged. :slight_smile:

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33

What TF do you trade on? D1?

34

Yup thats right! :slight_smile:

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35

This is cool, careful tho! :+1:

36

Daytraders are also divided into two groups. Those traders, who consider trading as their primary occupation and those ones who consider trading as their secondary occupation, just for getting extra money. I used to be a full time daytrader and my daily routine wasn’t different from part time, because everything I have to do daily is to open from 2-5 deals. However, the general amount of time I dedicate to technical analysis and sometimes even fundamental one, when the situation is unclear for me. So, I just wake up, having a breakfast, then analyze the market and open the first position, I close it during lunch and after lunch open another one. The last position I open no long before sleeping.

37

I trade EUR/AUD/JPY type pairs to better trade active markets after 5pm EST.

I wake up usually around 1-3am, in bed around 9-10pm.

Generally never place more than two trades a day, and trade at least three pairs per trade.

What usually happens is one pair will profit more, so I will close that out and then assess from there.

38

My daily routine

  1. I get up and eat breakfast, get ready for whatever day I’m going to have.
  2. After that, I go online and look at the market.
  3. I start with checking out my favorite currency pair. Then I move around between different pairs.
  4. On the weekends, I usually do my analysis for the week. It’s more important and time-consuming than just following the market daily, so it needs more focus and dedication.
39

Same here broda!

40

That’s one good question!

As a day trader, I tend to make use of price fluctuations of currency pairs​ with high liquidity, which can provide plenty of profitable opportunities. Day trading targets the currency pairs that are highly liquid and volatile.

Forex day trading is popular mainly among retail forex traders. It’s believed to be a quick way to make profits. Forex day trading suits traders who have enough time to monitor, execute, analyze prices and track their trades​ throughout the day.

Since forex day trading involves reacting to short-term price fluctuations, it requires discipline, focus, control, and the ability to stick to a clear trading strategy.

However, this strategy requires more time to monitor the prices and the trades, as well as a good understanding of how the daily events could affect the pair you’re trading. Major economic news can easily affect your positions. But if you prefer trading for short periods, but are not comfortable with fast-paced strategies with multiple trades, day trading is an alternative strategy that can suit you better.