How do you spend your day?
Posted: Wed Aug 22, 2007 3:53 pm
by Zoul
Here's a question for the full time trades out there... How do you spend your day?
I can't imagine that you are glued to the monitor all day long, but then I know that you need to spend a rasonable amount of time with the process.
I'm trying to visualize how I would structure my day when that time comes so I can get a clearer picture in my head.
Thanks,
Dennis
Posted: Wed Aug 22, 2007 8:09 pm
by TheRumpledOne
Glued to the monitor ( 5 monitors ).
Posted: Fri Aug 24, 2007 9:25 pm
by dbw451
Zoul,
Trader daily routines are different depending on how a trader trades, what markets they trade, the skill level of the trader, and numerous other factors. A new trader's routine would be much different than that of a successful experienced trader. A new trader has much learning to do which should be incorporated into the daily routine.
In general, a daily routine would include:
Pre-market hours (or before you start trading)
- Determine market structure - support & resistance areas, trends, etc.
- Research report times that may affect your markets
Market hours (or your trading hours)
- Execute your trading plan
After market hours (or after you are finished trading)
- Review each trade - determine if anything could have been done better.
The key to your daily routine is your trading plan. The best guide to creating a trading plan that I've read is a chapter in the book "Financial Freedom through Electronic Day Trading" by Van K Tharp. Trading is a business and a trading plan helps you treat it as such.
Like TRO, for me when I trade, I trade. That means sitting in front of my monitors until I'm finished trading.
Regards,
David