hello. i am a new daytrader. i have a PA based trend following system 1,5,15,30min charts. just wondering, how to maintain concentration, as i can trade 2 sessions - asia, and 2/3 of london session. Also late new york session is also doable provided i wake up early. i will definitely take a break during lunchtime (asia) as there is likely no movement. asia i notice gets atleast a signal every odd day so its worth staying. london is high volume and a lot of players active.
how do people maintain active focus and concentration. i have about 8 different pairs incl. crosses, but i notice the USD group move identical with subtle differences. nearly 99% of the time the price is either ranging/trending with no active signal, its only the small time i get signal. if signal is missed, it is a bit more risk to jump in again later in trend as it can reverse(unless another signal given whereby its okay to do so).
i am starting with low lot size to gain practical experience first. as im planning to be around a while, best to start small.
the key to my system is taking entry on 1,5 minute charts, as major moves get picked up fast on these charts. of course with the crosses, the 1 minute charts aren’t the best.
any other day traders on here. is 8 pairs too many to follow(4 of them are the USD group). current securities to trade-
eur
gbp
aud
chf
eur/aud
gbp/nzd
gbp/aud
eur/nzd
gold
alternatively.
eur
gbp
aud
chf
eur/aud
eur/nzd
gbp/aud
gold in eur,usd and aud.
10 instruments.
i ignore jpy pairs, they are just no different to the usd pairs as u/j is static