My Daily Trading Routine


My trading day starts before I actually place a trade. This might sound strange to the amateur trader but the aim of the game is to interact less (yeah you heard right)…less frequently with the markets. This way I have more time to enjoy life. More on that later. So I will not be hunting down every trade, but rather, plan ahead and then execute the trades when they present themselves.

8 pm Eastern Time: Check the economic release calendar for the day and days ahead. It is here that I decide whether I will be trading upcoming news events. Next it’s time to fill out my trading Journal. Here I recap the past trading day, taking note of what went well, what didn’t and lessons learned. Its then off to bed by 10 or 11 pm because a good night’s rest is key to successful long term trading success.

7 am: At this time I’m up looking for trade setups prior to the US market open. My main aim now is to take advantage of the increased liquidity when both the US and London markets are in full swing

7:30 am: It’s breakfast time. I’ll be back at my trading charts at 8 am.

8am to 10 am: This is when the rubber hits the road. Thanks to my pre-analysis, should a trade present itself, and align with my risk to reward ratio, then I am now ready to do 3 things and 3 things only. Firstly, set my trade entry. Secondly, set my stop loss, and thirdly set my take profit target levels.

10 am: I’m gone. Right, I am gone from my charts for the next four hours. It is important to understand that because I’m executing a trading strategy, I do not see the need to sit and stare at my charts for hours. This will not help my trading, and will only cause burnout.

10 am to 2 pm: I’m doing the stuff that people who have a life do …shopping, sea diving, visiting the museum or whatever place I like.

2pm: Assuming the trade is favorable I will then manage it by securing any profits made. (Although sometimes this amounts to meddling with the trade…I suppose we’re only human sometimes). Then I’m gone again from my charts.

3pm to 8pm: Now I’m off to really enjoy life. I go to the gym, learn something new, meet up with friends, relax, watch TV, answer emails or simply spend time with my family. The set and forget routine makes trading more palatable and removes a lot of the stress.

My daily trading routine avoids me being glued to my charts 24/7. I’m only really actively trading for about four hours for the day, if and when trades present themselves. If and when trades present themselves because sometimes the daily trading plan is simply NO TRADES TODAY!

We’re all taught that the more work we put into things the more we get out of them but in the case of trading this doesn’t mean zooming in on our trading platforms all day and night.

Written by Ferl Ngningone

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Ferl is a former Financial Analyst at BNP Paribas and a well-seasoned globe trotter. Besides trading online he enjoys traveling more than anything.