I’m wondering what kind of time you all put into trading (research, reading, trading, back testing, etc). I’m not able to do it full time, so over the course of a week, maybe an hour a day average across 7 days (more on the weeks than the week).
Perhaps I need to find more time?
How about you?
2 hours reading through the school here everyday. 1-2 hours looking through the charts and demo trading. I can’t also do this full time because of my other commitments.
Most day traders have brief days, working two to five hours per day. Five hours is high. Add on a few minutes each day for preparation, and review at the end of theday and week, and day trading still isn’t very time-consuming.
3-4 hours, wow! That’s awesome. Wish I had that time every day.
Sounds like a full day, no? Is that your typical day?
All my free time (8 hours or more)
Rockstar! Can you remind me, are you a full time trader? Thanks!
About 30 minutes per day. The joys of trading the D1.
I will confess to spending a further several hours per week reading or re-reading trading books. I’d call that professional development, though, rather than actual trading.
Between 30 minute sessions around the day, I’d say 3 hours a day!
Probably around 6hours per day average across 7 days. I couldn’t put in more even if i want to. Interestingly, 6 hours is 25% of one day. Now that is some revelation isn’t it.
I don’t have a fixed hour per day I just look through chart setups on random time and watch for signals. I also follow the news with my phone. Forex is part of me on a daily basis. Once I see a good signal I make a solid trade. Some days I wont even lift a finger.
10min before hourly candle close,
But when there is no major market opening,i tend to skip
So kinda like 2.5 hours a day
At this time I need not more than 1 hour per day. In that 1 hour preparing strategy and watching the market how it is doing when the trade is open.
More is not needed because I am not learning anything.
At the start if you are beginner you need more time to learn and to watch the market to make a strategy or to learn hot the market moves.
As the time passes and your knowledge increases you will need less time.
Actually trading analysis takes much more time than trading itself. To my mind, it is possible to conduct proper analysis, define levels to open the positions and then just place alerts on those levels. If you have a list of instruments to watch and if you know the setups you are looking for trading requires very little time.
At the same time, the most time consuming process is the development of the strategy. It is difficult to calculate time spent on it because it is not a daily routine, but it takes nearly 70% of time, while 20% is daily analysis and 10% is trading itself. Of course it works this way if you have a strategy that allows you to enter the trade, place stop loss and take profit orders and then forget about the trade. From my experience, this works best while you always can make some emotion-based decisions if you will watch the trade for the whole day. In fact, if you will dedicate too much time to trading, it could lead to overtrading that is also harmful for the account. That is why it is necessary to find an optimal balance depending on schedule, trading style and particular strategy.
The approach explained above works for swing traders or daytraders making 1-2 trades per day. For sure, scalpers will have to spend more time watching charts.
its a good routine , always try to continue it , do not hurry when learning from school.
Best days:
-get up at 0630hrs
-Breakfast until 0700
-0700- 0800 reading general news, financial news, checking ,answering mails, write down release time of forex related statistics
-0800 starting trading ( scanning low spread forex pairs for catching one or some more pips.
-1200-1300 break, meal
-1300 the same like before noon
-1700 end of day ( under normal conditions)
I am just taking off Saturday & Sunday! Others 5 day, I am not talking any long break; even I don’t count my spending hours!
I am spending 4 hours each day but with breaks. Cant really focus continuously.
At my peak I was averaging 15-20 hours a week with about 1 hour dedicated to charts, everything else into R&D
Are you practicing demo or doing live trading?
I am doing live.