Searching and making new trading strategy and plans.
The trade, I am a Swing Trader, I analyze the Monthly and Weekly charts and then execute them on the Daily.
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.
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! 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?
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.
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
Hmm. 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?
How would you say the news affects your trading? Are you like me who kinda opts out during major events or do you have a somewhat different approach?
Oooh. Thanks for that! If you don’t mind, what platform would you recommend for reviewing forecasts?
This is interesting! 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?
Strategies can be constantly tweaked and I’m guilty of doing it too much.
Maybe I’m guilty of doing it too little. 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).
My guess is that’s at least worth trying. 5 and 10 are terribly close together!
Yeah. I kinda thought so too. I consulted a couple of friends, and they all agreed that trying “wider” settings would be best.
Well, I’ve found TradingView to be comprehensive for charts and forecasts. It’s worth checking out
Yeah! I agree with that. I also use Tradingview and even check out some trade ideas sometimes. Although the ones I see have already played out. Thanks for the reco!
I think finding the entry is the worse part for me. I have an OCD when it comes to that
I usually wait to see how the market reacts before making any moves, just to avoid the initial volatility. What’s your usual approach?
TradingView is top-notch! )
Absolutely!