In this educational article, I will teach you how to properly plan your trading week.
Sunday.
The best time to prepare the charts for next week is now when the markets are closed.
First of all, After the previous trading week, charts should be cleaned because many setups and patterns become invalid or lose their relevance, and their continued presence on the charts will only be distracting.
Secondly, key levels: Updates should be made to trend lines, supply and demand zones, and support and resistance. Structures should be evaluated because, like patterns, some important levels lose validity after a prior week.
Monday.
Analyze how the markets opened, go through your watch list, and monitor market reaction.
Mark or flag the trading instruments to which you ought to pay particular attention. Create alerts and search for trading opportunities.
Tuesday. Wednesday. Thursday.
Maintain managing any trading positions you may have opened.
Pay attention to your open trades, browse your watch list, and keep an eye on fresh trading opportunities.
Friday.
Analyze the trading week as a whole. Verify the outcome and note your profitable and unsuccessful trades in a journal. Correct errors.
Make a choice regarding whether to retain the open position over the weekend or try to find a means to sell before the market closes.
Saturday.
Avoid the charts at all costs. While the markets are closed, meditate, unwind, and chill out.
After trading for more than 9 years, I discovered that this plan is the best for profitable full- or part-time trading.
Try to follow this schedule and let me know if it is convenient for you.