Which part of your trading routine takes the most time?

Beginner Questions Trading Psychology
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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103

I can totally relate to the pre-trading rituals! Sometimes, it feels like I spend more time getting ready to trade than actually trading. For me, the part of my trading routine that tends to take the most time is analyzing the market and identifying potential setups. I like to be thorough and make sure I’m considering all relevant factors before entering a trade. But hey, as long as it helps us feel prepared and focused, I’d say it’s time well spent, right? How about the rest of you? What part of your trading routine do you find takes up the most time? It’s always interesting to hear how others approach their trading routines! :smile:

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