For me, it’s backtesting. I gotta make sure my strategy has a high probability of profits before entering my capital.
I spend a lot of time checking the upcoming news and figuring out how it might affect that specific instrument. Though I am very much a beginner so It’s probably a normal thing.
For me, it’s back testing.
I have several proven profitable strategies and yet I continue back testing new and alternative strategies even though I don’t place a lot of faith in such results.
For me, the value of back testing comes from acclimatising to your anticipated win rate. If you get used to seeing plenty of losses along the way that somehow still end up in an overall profitable figure, you won’t be as perturbed by such losses when you trade the strategy live.
That’s my theory anyways . . .
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What are some of the websites you visit or tools you use to do this?
Actually, I’m guilty of this too. 
If I include reading through the forums, it’s probably gonna be the biggest bulk of it. But I also enjoy it and learn a lot from here. 
Oooh. 
And do you try out all of the new strategies you find? 
Guilty as charged. I end up with a lot of excuses just because I get anxious about trading sometimes. Like, if it’s not cleaning, it’s that I’m hungry and I need to prepare some food. Or there’s an errand I haven’t done that I’m supposed to do all of a sudden. 
I’ll try to keep this in mind for next time.
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Somehow, I have the impression that that’s how it should be. Hahaha. But just a gentle reminder to keep your eyes protected also!
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all strategies which passed my tests are additional verifying on demo account, if you thought about it in this way, my answer is yes.
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I don’t trade all the time. But opening taking entries in any pair, I try to analyze the market strongly and this part takes much time.
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Efficiently managing time and focusing on the most critical aspects of trading can help you balance the workload and maximize your effectiveness as a forex trader.
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Market analysis takes me more time and it’s definitely a very important part of trading.
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That’s super interesting! It must take probably a lot of patience to give a lot of these strategies a try. But even though you do this on demo, do you still have a single strategy you stick to when trading?
Oooh. How often do you typically trade? Is it something you also do as a side hustle?
Definitely! But easier said than done. I’m working on this though!
Definitely. Haha. I guess I was just looking for people who procrastinate as much as I do.
patience and time 
I have currently 50 strategies in “verify module” but many of these strategies didn’t pass this filter. I build strategies for different market conditions, so I don’t have strategy which I stick, when results from live trade and back test doesn’t match or max draw down has been hit, I replace it to new one.
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It’s the daily assessment of the market situation that takes almost all my time. I guess it should always be like that. The process of opening orders is easy and fast.
The most time consuming thing is what happens before and after that.
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Yes they are time consuming , but this preparation is crucial for making informed decisions and managing risk. And also about me this preparation takes the most time.
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Ooooh! This is very interesting! It would definitely make the whole process of testing out strategies more efficient if you have this filter. Would you mind sharing this? Cause it might be helpful in spotting the good strategies and the bad.
This also makes so much sense! If I were knowledgeable enough and if I was more patient, I might even go as far as identifying systems for particular pairs.