How many hours do you spend in forex trading per day?
I want to ask how many hours do u spend in forex trading every day, per day? it is sure that it depends on your strategy, ...how many hours do u spend a day those intraday traders ? thanks...
I have a trading buddy that trades only durring the Asian session (Nzd/Usd) so he can have the rest of the night and day to himself. It's based on your particular situation. My trading styles works for me because when I was working (at a real job) I had access to computers with internet connections and I would trade (GFT's Web Platform) between customers. So, even at work I was working and that habit of trading has sort of, stayed with me. Multitasking. I trade better when I have 101 things to do, as opposed to mapping out a particular time of day to trade.
(That doesn't include system development and testing)
Time committment for a position trader
I trade currencies on a daily to weekly scale and it requires 1 hour each morning during New York hours (I do a lot of homework on weekends though). It used to take me much longer back when I was learning how to trade but I have my framework highly systematized and I have a research team that helps me out. The latter is not required but if you want to form one there are several people that are probably willing to collaborate with you in your niche area.
Let me make something clear: Making big profits does NOT mean that you have to trade often. Someone stated earlier that they trade when they can't sleep. That is a huge mistake. No matter how many times it's been said, trading is a business and you must treat it as such. You need to keep trading separate from everything and let opportunities come to YOU, not go out and try to find an opportunity.
I'm not about to say that intraday trading is bad, but it requires the most discipline. If you have other commitments in your daily life such as a job or kids, there is plenty of money to be made with position trading.
All the best in your trading,
There are so many opportunity in the forex market and if you want to trade all of them, you will not have a proper family life.
I only trade for at most 4 hours a day and I do it at the London session which is the most volatile for the currency pair I am trading.
I don't trade intraday that much so I can't comment.
But on 4h charts and above, I glance at the charts a few times a day at the close of the bar. I would at least look at the charts once a day if I have open positions. So... probably if you add all the time spent looking at the charts, I'd say about 2hours per week.
Weekends for analysis and testing out strategies, looking what went wrong and what went right.
If you are not trading forex (currently), then why you need to know others activities?
Less than an hour a day.
few minutes a day but im always online, especially during the summer
Watching the market 24/7
I trade a few hours a day but I partner with 02 more guys, taking turns to watch the market 24/7.
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