That’s still impressive. I’m nowhere near consistent like that. I have to make that my mission for the month!
Hi…for me I spend 2hrs on weekdays and on weekends I take off on trading…because on Monday I do my Technical Analysis and on Tuesday I start trading and learning at the sametime
Thanks for sharing!
I used to sit and check the charts for a very long time every day. I was spending about 6-7 hours a day. But now I spend about 2-3 hours. Sometimes i can even finish my trading plan for 15-20 minutes. And I spend the rest of the time to learn something new about the market. For me, it is important to earn stably, so I need to learn a lot. And in principle, I like the feeling of learning something new that will help me in trading later. But the most important thing is to plan everything correctly in the daily routine. Also, sometimes, I just try to think about different new strategies when I have some free time. The main for me is not to stop and regularly analyze my mistakes. Then the results will be better and better.
80% charting
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Wow, that’s narly. I wish I had time like that, but I don’t. Still have probably have more time than I think, but I think it’s more about being effective.
I’m failing with this. I need to set that routine for sure.
Completely agree with this.
Yes, I trade similar to this. I get my TA from daily and weekly charts after the NY close and preferably before the London open: with the TA I set new entry orders and adjust pending entry orders. I check for manual exit rules being triggered around the London close and then at the NY close.
Because I trade in a mechanical way I extract key TA features onto a spreadsheet and I would say I spend far longer looking at the spreadsheet than I do looking at charts. I never draw anything subjective on charts - trend-lines, support/resistance, chart patterns etc. The spreadsheet carries objective entries, e.g. which way is the 50EMA sloping? - upwards or downwards: I want no TA stuff which can be subjective or ambiguous - it either is or it either ain’t and that’s it.
I like that approach at. Keeps it simple, less to look at that might screw up your decision making.
I spend less time now than I used to when I traded off shorter time frames. Now I pull up the monthly chart, mark my main S/R zones to determine which way price is headed. This takes me a minute. If I think it’s short I’ll open a small position (max 1% of balance) and wait. When that position starts going in my favour (could be immediate, could take hours or days) I’ll open a second, larger position (5%) then set my stop loss on the first position so that it stays profitable. This can be repeated 10 times if you catch a really good trend and have the capital available in your account. I believe this is called “pyramiding”.
I do check my trades regularly throughout the day because I want to jump on those trends. I’m sure I spend more time than I need to on a daily basis, but that’s just because I’m obsessed with this s**t, lol.
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school and including demo practice is a great combination . but i think 2 hours is not good enough in a day for pre school level.
Interesting trade management. I’ll do some more reading up on pyramiding. Thanks!
I do like the idea of longer term time frames for sure. Just don’t think monthly is for me. But I guess its the same thing as any other trade. What’s the largest move you’ve caught trading the monthly? I imagine a trade can travel a far distance.
Aggressive trader? Really? Do you avoid the rules of money management? Or are you talking about your tiny session?
Tiny sessions. I have a part-time hustle as well to deal with.
How tiny exactly? Because that can be very subjective. For me it’s about half an hour.
How long have you been doing that? If for a while, can you remember back when you were wet behind the ears?
Sorry. @dudebro, I missed your reply.
I tend to go in and out of trades quite often. Yes, they can travel quite a distance over many weeks, but I don’t leave them that long. I’ll close a trade, take the profits and go back in again if I feel it’s still got strength.
So just an open question…
How many hours do you want to be trading for each day ?
Is trading something you see as an income generator or do you want to know all the ins and outs of the financial markets.
Would be great if you could run FB polls on here
Sessions usually go from 30 mins to 45 mins and 4 hours in total.
I see; that’s really difficult! By the way, hope for the best!
I know but managing a side business is tough!