Good advice for anyone with limited time and access to markets is find a longer term system. Will probably be more relaxing, too.
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Yeah that’s true, I should trust the process more and let the trades run by themselves while I’m busy with my job until I’ll get more time to focus on the charts!
I see, so you focus on a single type of entry and trust it while leaving other signals behind because they could distract you? That seem really smart actually, I have pages full of patterns and candlestick types and honestly it did happen to me more than once to get confusing signals on the price direction because of that
Yeah, more likely I’ve been following the example of some traders like TMA that teaches to take a few good trades where you catch a movement within the main sessions and then you move away.
Yeah finding balance can take time but I absolutely have to.
That’s one of my main goals, luckily eating healthy and exercising are already part of my routine, I just have to find space for trading while my job eats up my time and energy.
Yes butyyou don’t have to folllw the mass and of course its right to catch London session when you are a day trader. But who cares about sessions when you are a swing trader and hod positions for 2 or 3 days? “Even” the london sessions last only 8 hours so what are you going to do when its 5 pm in London? Close all your trades and reopen them next london session again? You should try babypips’ education section for further informations
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Very good advices above. In short - set your trading by your other routine and forget about scalping. Go for longer term trading and “set and forget” type.
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This had happened to me before, these were hard lessons learned for me. I closed an order, but forgot my stop losses were still in effect. I’d assumed that my stop losses and take profit would automatically close as well, but that only works on tradingview when I was using the computer, and not from my mobile phone. It was a signifcant amount lost, and I just started finding some small success in my trading. I thought it was the end of the world because I FINALLY had found some success in this. But, even though it felt like it was the end of the world… it wasn’t. I vented to friends, I limited my time on the markets(the market WILL ALWAYS be there, and don’t let it consume your life, please), and found that I enjoy being a scalper more than position trader. I like to be in and out quick and easy once I nab my pips. Please take some time and remember you can’t lose hope if you dont give up!
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Already been mentioned but stick to the daily charts. Lower timescales are a mugs game. You can grab solid set ups from the weekly charts, if you find influential patterns. Most importantly, allow yourself and your positions time, keep your leverage and exposure low and be generous with your stops. You have to GIVE, to RECEIVE. Good luck
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This is normal. The time will come and you will be as motivated as possible to win. I have two freelance jobs and I’m still making time for trading. It’s hard but you get used to it over time, so be strong.
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The key with early expectations is being honest about your time availability. Most people work full time if they are learning to trade. A secure source of income is a healthy thing to have when starting as it puts less pressure on the trading. It likely means that day trading isn’t going to be right for you. So look to developing high time frame trading plans that you can look at outside of the main trading sessions without issue.
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I haven’t dealt with this personally but I’m sorry to hear that you’re struggling. I would possibly try a new strategy in this case, or either try to find a job with a different schedule in the meantime if that’s possible.
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Yeah that’s True,if you find you don’t have the time of the to trade during the London and New York overlap
I recommend looking at high time frames and swing trading the trade the tend to be great and more accurate
You don’t have to constantly check your phone
Downside to swing trading is that it requires more capital and easy to blow a small account
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Well no, from the strategy I always had you close them as soon as you get anywhere from 20 to 100 pips or you reach a previous level, but yeah I’ll consider swing trading for my situation
I’m afraid my family wouldn’t accept me leaving that job because I have a permanent contract and has a nice paycheck
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Yeah that’s the best way out of this situation
Yeah I’d need a strategy with very tight stop loss and safer entries to hold positions longer
Thanks, knowing that you’re able to keep up everything makes me hopeful!
Thanks I’ll definitely look for fitting strategies