please list the timeframe you like to trade
and on avg how long it takes you find the setup you like?
I usually use 15m 1hr and Daily for trading, you need to be analysing 3 timeframes at least.
I don’t know how long it takes, it can take minutes or days to wait for a trade, but it’s usually 1 - 3 trades a week, but it probably won’t be any until the second week in January now.
I use a forward forecasting approach whereby I list out key levels of interest. I’ll watch in real time when these levels are hit, and if the appropriate price action occurs at these levels all take the trade.
Finding these levels takes less than one minute as they are ‘progression levels’ from the previous day etc, nothing complex about it, keeping it simple is key…providing you have the appropriate historical stats to back up that your trading method actually work
I trade on a daily chart. I spend about fifteen minutes a day making decisions on what to do. I spend the rest of my waking hours b*tchimg or bragging about the market.
10-20 seconds,
Made 2 trades today, spent less then 1 minute looking at charts, got my 5%, day over,
Today is the first day in 2 years I didnt make a trade before 9AM, Didnt make not 1 single trade on SUnday, and spent less then 5 minutes on the PC this morning, TOTAL…
For me it takes around 5-10 minutes to go over technical setups. I have also EA what notifies me when price starts to reach to my S/R lines. Then I trade purely on price action
For me i spend the whole day staring at my charts (not necessarily trading) i’m doing this to know how price action(candles) move, how they go up and down and what happens immediately a candle closes. I wake up and i swicth my pc on and i never go offline untill i wanna go to bed at night. Doing this has really helped me to have an understanding of how price action happens.
For example, if i spot an entry signal and i take the trade but price immediately goes against me, i can confidently hold onto the position knowing that price will come back into the money(i set SL anyway). My point is when i started off as a new trader and didn’t know how price moved, i will enter a trade and i will exit immediately it goes against me say 3 or 4 pips only to find out that it was a mere wick and that price will go my way.
I believe i will stop staring at my chart eventually. this is when i have gained more experience and become less excited about staring at charts
If i understand you all guys, everyone has their own way to find the best setup.
Hello everyone. I like the last answer =)
Seriously speaking 10 minutes is usually enough.
I’m trading off the daily chart. For Me it take Maximum 10 Minutes to scan my 29 pairs. If my edge not in the chart then I will close for the day. Period.
I have a day job to keep me busy.