A Day Traders Day? | Forex Factory

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A Day Traders Day?

  • #1
  • First Post: Jun 18, 2007 5:01pm Jun 18, 2007 5:01pm
This question is really for experienced traders who trade actively. I have been doing this for about 8 months and have been live trading for about 5. I enjoy the fast paced market and have had some success (although I want more!) My question is this, how do professional Forex traders manage their days.

I understand that the first 3 hours of each market opening (US, Asian, Euro) are the best times to trade. But starting either at 6am, 4pm, or 12am pst is tough to schedule your day. I would like this to progress into a full time occupation (or infatuation as it has become!), but it seems hard to feel like I am actually working when the hours are so spread out. I trade the European session at night until 2am, then wake up at 6 to trade the US market, with a major nap mixed in between.


I would like to know how full time and professional traders schedule their day.

Thanks,

Jeremy
  • #2
  • Jun 18, 2007 10:39pm Jun 18, 2007 10:39pm
I'm also in pst time. I've been trading for about 4 months and this is how I manage it. I sleep during the slowest hours, 3 pm - 11 pm. Then I trading the full london open and the first few hours of US open, 11 pm to 10 am. From 10 am - 3 pm I do personal stuffs. So far it's worked out fine. Btw, I quit my day job.
  • #3
  • Jun 20, 2007 12:38am Jun 20, 2007 12:38am
Quoting jt348
This question is really for experienced traders who trade actively. I have been doing this for about 8 months and have been live trading for about 5. I enjoy the fast paced market and have had some success (although I want more!) My question is this, how do professional Forex traders manage their days.

I understand that the first 3 hours of each market opening (US, Asian, Euro) are the best times to trade. But starting either at 6am, 4pm, or 12am pst is tough to schedule your day. I would like this to progress into a full time occupation (or infatuation as it has become!), but it seems hard to feel like I am actually working when the hours are so spread out. I trade the European session at night until 2am, then wake up at 6 to trade the US market, with a major nap mixed in between.


I would like to know how full time and professional traders schedule their day.

Thanks,

Jeremy
Hello, Jeremy

Ive been trading for 7 years....I used too think the same thing at my early stages trade when market openings....You should look and start looking into a system for you that works for you....And based on how it works for you and then compare to what time frames of the day it works....Be it Scalping, swinging, long term etc...If you don't have a system you have no directions and what you do is very random hence you wont get very far at that you will get 1 win and 2 losses 2 wins and 5 losses etc...Been there done that. Use a system Test it and then test it again and then you know what test it another 10 times....And once you see it works for you...Then try to use it passively its not an easy path but if you want to make money if you really want to make money...Then thats the road you have to go be it now or 4 years from now....I suggest start learning it now instead of waisting precious time...But me i pretty much just disregard the times now...Based on my system opening markets don't effect my judgment calls. I am not a scalper i don't try to jump on trends I get in on a swinging market...I go out once the swing is over and reverses i exam pull backs and Market Reverse. At reverse i exit on A comeback i get back in etc...And unlike when i started my first few years i get full nights sleep with all positions open without having a single worry in my head....Thats basically how i manage my days i am now a full time trader been trading for 7 years and only recently i became full time i think i finally achieved the level and i am happy as hell, it took me a lot too get here. I hope this has Shaded some light if not *shrugs* Guess you will experience it all your self i was a rebel and didn't listen and went the hard path but you know what it was worth it because you have to learn your self not from someone else.
There are those who know, and there are those who don't know.
  • #4
  • Jun 20, 2007 12:40am Jun 20, 2007 12:40am
I live in Australia.

and basically consists of a lack of sleep (which my body is now use to) and going for surfs during the day (in slow asian sessions)
  • #5
  • Jun 20, 2007 2:40pm Jun 20, 2007 2:40pm
Quoting jt348
This question is really for experienced traders who trade actively. I have been doing this for about 8 months and have been live trading for about 5. I enjoy the fast paced market and have had some success (although I want more!) My question is this, how do professional Forex traders manage their days.

I understand that the first 3 hours of each market opening (US, Asian, Euro) are the best times to trade. But starting either at 6am, 4pm, or 12am pst is tough to schedule your day. I would like this to progress into a full time occupation (or infatuation as it has become!), but it seems hard to feel like I am actually working when the hours are so spread out. I trade the European session at night until 2am, then wake up at 6 to trade the US market, with a major nap mixed in between.


I would like to know how full time and professional traders schedule their day.

Thanks,

Jeremy
Jeremy,

You don't have to trade every session around the clock to be a successful full time trader.....just pick one session you like and can live with, and work only during that time. You keep trying to work around the whole clock and multiple sessions, burn out will become an issuse. Than mistakes will happen as you may want to "force" a trade because you are tired. I've been there.... if you want to ween yourself slowly.....dump the Asian session first. Don't trade the Sunday evenings either....take a weekend off to enjoy your labors......in the beginning, you'll look at your charts and see all kinds of "missed" opps.....but more will occur everyday......hope this helps a bit.
Proper Prior Planning Prevents Piss Poor Performance
  • #6
  • Jun 20, 2007 5:41pm Jun 20, 2007 5:41pm
Quoting jt348
This question is really for experienced traders who trade actively. I have been doing this for about 8 months and have been live trading for about 5. I enjoy the fast paced market and have had some success (although I want more!) My question is this, how do professional Forex traders manage their days.

I understand that the first 3 hours of each market opening (US, Asian, Euro) are the best times to trade. But starting either at 6am, 4pm, or 12am pst is tough to schedule your day. I would like this to progress into a full time occupation (or infatuation as it has become!), but it seems hard to feel like I am actually working when the hours are so spread out. I trade the European session at night until 2am, then wake up at 6 to trade the US market, with a major nap mixed in between.


I would like to know how full time and professional traders schedule their day.

Thanks,

Jeremy
Sup man.

Although not full time yet. (2 years left till that starts) the job I currently have means That I wake up at London open and finish my working day along side the NY close.

I will more then likely continue that cycle until then. How ever my aproach leave with lots of in between time. So I may not look at the markets again for hours after the London open even if I do have trades running.
  • #7
  • Jun 20, 2007 6:42pm Jun 20, 2007 6:42pm
I have been a full time Forex Trader for 4 years.
I am in EST, so it is easy to trade the US Economic Reports.
As far as when is the best time to trade....it really depends upon your strategy and style of trading. I don't limit myself to specific times......I trade when the market offers a good trading opportunity.
  • #8
  • Last Post: Feb 19, 2018 9:01am Feb 19, 2018 9:01am
I trade New York session (same time frame as mine) i get up my ass off the bed, make breakfast, eat it, sit in the computer wait for a signal, make a trade, close the computer and i move on with my life..

from 7/8AM until 11:30AM tops, thats my time windows, if there isnt a perfect signal during that time OR markets are stupid that day i turn off the computer and move on

Just 1 pair..

Just 1 trade..

every morning, every day..

over and over again =)
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