Hi, I’m facing some issue with my trading time. The thing is i completed the course from here 6 months ago and then I hop on demo trading but then I have to do a 9-5 job, so because of that I can’t gather much time. Now I’m able to see charts and other stuff for around 1-2 hours.
I think you guys get what I’m trying to say.
So my question is for traders who’re currently working or used to work in past. That how can I manage trading.
I didn’t know what to do. For example, I open my laptop at 12:30 pm then I see some candlesticks for an hour then I get to work, but then when I see them after 4-5 hours then it’s very different situation, i don’t understand should i only have to trade for that particular free time, or there is any other way or method to do day trading, hope you get it.
I can’t understand how should I trade.
There are many times when the problem isn’t that big buy we make it big, also many times the solution is in front of our eyes but we can’t see it, so It may seem a silly question to you. It is possible that I’m forgetting some simple things which I can use, some simple word, which is slipping from my mind which may be very obvious to you guys, so please give your suggestions briefly.
You can also say that I’m restarting trading after a break of 2-3 months.
Hi,
Since you cannot choose the time of your job, and you can choose the time of your trading, the logical deduction is that you should choose a time of day when you can do research, analyse setups, and choose as Professor Pips advises, to establish a trading strategy based on daily timeframe. If you can determine your entry price and stop loss you can use a demo account to practice placing stop orders that will not execute until the market price reaches your pre-determined entry price, and will also automatically place a stop order concurrently with your entry order. Trying them out on demo ensures you don’t even need to do too much deep analysis. Just choose any strategy like "EUR/USD pair - what price did the market close last night? Is the trend long or short? When market opens, if market is long, place order at market close + 10 pips and set stop loss at market close minus 10 PIPS. You can also set a take profit (eg when market is up yy% of yesterday’s high/low spread. Simples. Just use the demo account to accumulate initial results, then refine those initial results to a “London market open” strategy. .You will find many of these - just google for London market open daily timeframe strategy, or variants of same, and you will soon find some starters for 10.
thank you bro, i just looked into London open market strategy and it seems goo to me because i can manage some free time before London session to open in India. it can work for me. you saved me a lot of research and my time. keep helping other traders. thanks again bro, see ya!
I can give you one piece of advice. Maybe someone has already advised this, but I find this advice useful and so I will write it.
You can use a mobile trading app. Many brokers give the option to use your smartphone for trading. This will allow you to have access to charts even while you are working.
Absolutely. However if trading is your job, you will need adequate capital to ride out some of the longer term trades.
@jdhdbdjdjd 1-2 hours spent on analyzing charts should be more than enough time when using daily charts. You just need to build your strategy around that. It takes a long time and a lot of practice.
