Hello
I a newbie and would like to know what is the typical morning routine like
for a full time trader.
their is so much info out their.
thanks
Breakfast first
I open the daily 4hr 1hr and 15 min charts I look at the pairs bisis on the daily chart mark the neariest support and resistance levels the I trade off the 4 hr or hourly charts I zoon into the 15 minute charts for optuim entry. I use pivot points on a historical setting and I try to get a confulence of support and resistence levels with the buy sell zone on the pivot points I then go down to the 15 minute chart and run a fibo retracement tool on the last swing to determine optuim entry if it is more then 20-30 pips to stop then I scale down to the 5 minute chart to see if I can’t get a better fill if not I’ll skip that trade and hope I can get a retrace for the support or resistance levels and if I can I trade if not I move on to another pair that fit my trading setups.
Hello
I really appreciate your time and effort in responding
jase
I do quite the opposite to most top down analysis traders, which involves looking at longer time frames and then drilling down to more accurate time frames. I always start at 6.00am GMT, log onto my trading platform at about 5.45am GMT and draw on any following trend lines and go from their. It may sound stupid, but having a clear head is soooo important, try to relax before you start trading, and don’t just jump straight into it from another activity. Thats why I prefer to trade first thing in the morning after a breakfast and a nice cool shower while motivating myself along the way that I’m going to make the correct trading decisions.
Another thing that I like to do is look over some of my past trades where I made good decisions and other trades where i made bad decisions, that way I refresh my mind on what the do’s and dont’s are!