I have to leave for work by 10 AM Central. I wanted to pursue day trading and was wondering if it’d be feasible to daytrade from 4 AM to 10 AM. The good thing is that the London session would be open at 4 AM Central and NY session soon to follow at 7 AM (so about 3 hours of overlap for me to trade with session overlap).
I’ll be trading mostly off the 5 and 15 minute charts and expect to be out of positions within 2 hours or less (hopefully)
I am at my computer most of the time at work so I would be able to close my trades at work (but hopefully it’ll be rare).
Definitely! I can get at least 7 hours of sleep if I sleep early. I don’t mind it at all because I think the more time devoted to trading, the faster I’ll learn. And plus, it’ll build my discipline. I don’t mind the sacrifice. I could take Fridays off or sleep a little extra since it seems Fridays are a bit slower.
No reason why not, as long as it fits in with lifestyle , If finding that you are to tired try end of day trading as could be a work around while working
Also too - if it doesn’t work out because of price action & time, dial down risk and trade higher time frames
I have a small business so time in front of a screen is limited. The 4hr, 8hr, and daily charts have treated me well with 30x and 1%-2% equity positions. Trailing stops are a must for the “just in case” scenarios
I second this. I really don’t think it matters what anybody says. You’ll have to find out for yourself. Give it a try and see where you are after a few months (or weeks ).
If you’re new to trading I suggest using a demo account to start off with. That will take the pressure off while still providing you with the desired screen time.
How long have you been trading for? Can you share your trading strategy with us?
It looks like a very unhealthy thing to do, start looking at a screen at 4am then more screen time at work, then the stress from trading first thing wen you wake up. I would be carefull with what you are atempting to do. You can trade longer term, there is no need to daytrade. Your mind and your body will thank you a lot later.
Also be carefull with your job (unless you are the boss or have a significant free time) , if you have open positions while at your job it will be hard to forget trading and focus on the job.
. Regards Greg
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