Which part of your trading routine takes the most time?

Beginner Questions Trading Psychology
82

Searching and making new trading strategy and plans.

83

The trade, I am a Swing Trader, I analyze the Monthly and Weekly charts and then execute them on the Daily.

84

I spend most of my time waiting for market entry points to ensure a profitable trade with a minimum stop loss. To do this, all the rules and conditions of my trading strategy must be met. Therefore, I have to wait, but I can pay off this wait with accurate and profitable trades that allow me to make good money.

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85

:see_no_evil::sparkles: I spend ages on my trading setup too - cute stationery, my fave mug, and yes, a clean workspace is a must for that motivation boost! :joy: But really, planning those trades, SLs, and TPs should take the cake. How about everyone else? What part of your trading ritual eats up all your time? :tipping_hand_woman::two_hearts:

86

For me, it’s all about the research. I can spend hours looking at charts and forecasts—way more than the actual trading or setting up my stop losses and take profits.

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87

I see an answer for this question in a different way. The things which take the least time in my trading routine -

News
Drawing support and resistance
Looking for chart patterns
Trialling novel technical indicators

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88

Hmm. :thinking: What do you mean by this? I mean, how does this take the most of your time? Like, it takes a while for you to decide how much you’re willing to risk per trade? :blush:

89

How would you say the news affects your trading? :smiley: Are you like me who kinda opts out during major events :sweat_smile: or do you have a somewhat different approach? :smiley:

90

Oooh. Thanks for that! :blush: If you don’t mind, what platform would you recommend for reviewing forecasts? :open_mouth:

91

This is interesting! :blush: I’ve actually been meaning to ask if you’ve tried to revisit strategies or systems you’ve used in the past and just tweak the settings of your indicators? :open_mouth:

92

Strategies can be constantly tweaked and I’m guilty of doing it too much.

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93

Maybe I’m guilty of doing it too little. :sweat_smile: Thanks Tommor! I’m actually revisiting a system I tried out before and I’m trying to tweak the settings for my moving averages. (The system suggests 5 and 10 MA but I’m thinking of doing 5 and 20 instead).

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94

My guess is that’s at least worth trying. 5 and 10 are terribly close together!

95

Yeah. :open_mouth: I kinda thought so too. I consulted a couple of friends, and they all agreed that trying “wider” settings would be best. :sweat_smile:

96

Well, I’ve found TradingView to be comprehensive for charts and forecasts. It’s worth checking out :wink:

97

Yeah! :slight_smile: I agree with that. :blush: I also use Tradingview and even check out some trade ideas sometimes. :sweat_smile: Although the ones I see have already played out. :sweat_smile: Thanks for the reco!

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98

I think finding the entry is the worse part for me. I have an OCD when it comes to that

99

I usually wait to see how the market reacts before making any moves, just to avoid the initial volatility. What’s your usual approach?

100

TradingView is top-notch! )

101

Absolutely!

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