I’m wondering how other trader’s structure their trading day. I trade the EUR/USD, GBP/USD, JPY/USD off the 30 minute charts and look at the charts sporadically throughout the day to see of technical setups but a lot of the time I won’t spend more than 15 minutes having to analyze the charts.
How do other’s traders’ days occur? Do you set up a certain time period to trade? Do you go through a set routine of what to analyze, etc? And how long do you actually spend trading?
I’m a newer trader, so any suggestions on how to better structure my trading would be appreciated. Thanks
The market is open around the clock. The computer alerts me when a possible trade is happening. Once a system is established, the only thing left to analyze are the results.
I personally go check the market every now and then as well. But I always take 15-30 minutes of analysis for every trade. that way, I make sure things go smoothly.
This is a system dependent question however for me, it’s simple.
I’m with IBFX so the daily candle begins at 7:00pmEST. Thus I sit at the computer at 6:55 and finish placing trades by 7:05pm. 10 minutes a day but that’s the simplicity of the system. It’s definately not the best strategy by any stretch which is why I haven’t posted it up on babypips yet, needs more testing but if 10 minutes a day has worked so far I’m sticking to it.
I just place TPs and SLs and those work themselves out without me having to check up on them. By the next days trading time the trades are usually closed already.
i live on the west coast, so for me asia opens at 4pm PST, usually asia move well once a week may be twice, so i would stay at the computer from around 4pm to 6pm depends on the market in general, the london is the most important trading for me, it starts moving around 10:30pm PST and moves until london lunch 2:30am PST, during those 2 sessions you should be able to make your daily bread. you can alwayse come back for new york open. hope it helps.
I trade the daily charts. Place them generally a little after 4pm my time. Spend at most maybe 15-20 minutes analyzing the charts and looking for a viable trade.