In my experience it is fine to look at trades and charts, but I never change my trades, only close out them once I enter them.
I differ here. Day tradingās cool for me. Analyzing the charts has made me understand the market better.
Agreed, it really messed with your head looking all day.
Itās not a good idea to sit in front of your system the whole day. Do take breaks because your health is more important than any other thing.
I would say itās different strokes for different folks. Some traders swear by intraday trading, they canāt imagine going to bed with positions still open. They would rather know how they fared - profitable/not - and not carry forward the trade to another day. While there are many like you who find more peace and of course, profits, in swing trading.
Take some time to relax because you wonāt be able to make good decisions with a stressed mind.
Correct. frequency of viewing charts completely depends upon the trading strategy .
Thatās good advice. Single person trying to watch more than 3 instruments continuously for 24/7 is quite impossible. Maybe they can watch one or two instruments a day. That would reduce the chaos of intraday struggle between many instruments.
Absolutely no need to. You might spend more time at the start when learning but down the line alerts are your friend.
I prefer watching charts daily before trading in any currency pairs. Itās important to analyse the market thoroughly in my opinion for a successful trading career.
Charts make it easy to identify and analyze a currency pairās movements and patterns and thatās why I too prefer watching them before trading.
Can you explain to me a losing trade becomes profitable how
Iām still trading on my demo and l have noticed this if l take less than an hour analysing the charts l become profitable but if l take more than that l screw my trades
Totally agree with you. There is no need to watch for charts all day because it really worsens your mental health. When you are a novice, yeah, thatās right, you have to watch for the charts in order to learn how to trade, however after you became a trader and know how to make money and have lots of experience, watching for charts is a bad habit I guess. It really affects your emotional condition and contradicts basic trading rules such as emotions controlling. Otherwise, if youāre curious about the price movement and its behavior, you might dedicate some time to watching for these movements. I donāt think itās crtitical.
I agree with you 100%! every time I got hooked on charts, things just went downhill. Gotta give it time and let it work for sure
Exactly, personally I trade to give me time. If I can refine my trading so that my screen time is efficient and minimal then that is what I will do.
I second that. If I can reduce my trading to 30 minutes daily, Iāll do it.
Staring at charts all day just turns into another job. No thank you. A few hours, no problem. But when it starts turning into a job, rather than investing, itās time for me to reassess my routine.
OMG - You poor guys who trade larger timeframes, what problems you have
I trade 5min charts on indices between US open and UK close max two hours, one or two trades. Last time I looked my average holding time was 6 minutes, though itās probably longer holding time these days.
A two hours trading time looking at the charts - Jeez some people have to dig holes in the road all day !
Watching chart all day boost anxiety which sometimes results in revenge trading also. Make a perfect trading schedule and follow it strictly.
Haha yeah. Bro, when the London session and NY sessions start and the numbers start moving fast, I get anxious.
I gotta get outta there!!
I donāt know how you guys deal with it!