The Routines of a Day Trader
In the previous article , I commented on the importance of routine to succeed in trading, and although it seems a sovereign nonsense, the routine is one of the virtues to cultivate. Today I'll talk about the routines of a day trader, that is what you should do every day, before, during and after the session Trading.
What I will describe below, they do not have to be exactly the routines that have to implement, but I would like at end of article sticking with the basics: what you need to do as "essential" to implement a work routine .
Surely now you are working, and whatever your job, surely it is routine.
The routines in the Trading are necessary, essential and desirable to make money operating. Do not think that what I tell you here is exceptional, is what all traders who consistently make money in the market.
Good traders, like good athletes, are very maniacal. Look at Rafa Nadal, he always repeats the same gestures, as if they were going to give him luck ... in fact, he repeats a routine that generates confidence. He feels comfortable always doing the same things, tune his mind with his body, it's like a "mantra."
There are other professions in which routine is imperative. An airplane pilot, checks around 100 points on his checklist before taking off, why will it be?
The routines of a day trader, from ....
Being a day trader does not mean only operate Forex, Indices or actions, although the approach should vary depending on which you operate. As this is a Forex Blog, we will focus on the routines that should follow a day trader Forex.
1. Trader Review and Work Environment
Very few people pay attention to factors, which can be decisive for a good trading session.
I am talking about a management of the trader himself, and the tools he will use in the development of the session.
Management trader: How do you physically today? Does something hurt you? You have a cold? Or maybe you're in a bad mood?
We must be in perfect physical and emotional condition. If you slept badly during the night, yesterday you were partying and you drank more than the bill, you slept late, etc., can influence your performance.
We need to be agile mentally, and if we are bloated or clueless, because something hurts or we have a fever, we will pay in the form of money from our account.
Another important aspect is how we emotionally. If we have argued with someone, we are angry, or too excited, nor are we in the best conditions to operate.
Working environment management: Does your Internet connection? Do you have your mobile phone on hand? Is the connection to your platform and Broker working properly? Is your computer ...?
We must have our Broker's phone handy in case the connection fails and we have to call to close a position. It is also interesting to have some auxiliary method to operate, it can be a mobile phone, a tablet or another computer.
2. Review the movements of the previous night
I am assuming that you operate the European opening, in this case we will get up with time, to be before it opens London in front of the screen.
First we will review what has happened during the previous night, and see the opportunities available, depending on our strategies or Trading system.
This is what is to analyze the situation before you start trading. It is not convenient to open the computer and get to operate, it is best to review the technical situation before, with time.
3. News of the day
We must review the economic calendar, with potential impacts on couples operate. You have the economic calendar HERE.
Many traders prefer to stay out and not operate when there is news, however others seek. The important thing is that you do not get caught unawares, otherwise, you must follow your trading system.
4. Targeting
It is interesting to set goals daily profits and losses, for two reasons: not to operate, and stop trading when goals have been achieved, or has reached the allowed limit losses.
Although operating day trading, it is not convenient to work more than necessary. This work requires an iron control of the emotions, that is very demanding and generates a lot of wear and tear, the less time we operate, the better.
5. Maintain control of operations
During the session or after the session, we have to fill our daily Trading and our control of operations.
Our trading journal will reflect transactions with charts, input, output, results and emotional situation. It will help us to improve our performance.
We also need to write down all of our operations in our operations control, to monitor our broker's notes and to make pertinent statements to the treasury.
6. Study and prepare
Upon completion of routine operations, we use the remaining time to study new strategies, or prepare the next session of Trading.
This is the backbone of a day trader's routines. Each trader is different, and must incorporate and detail many aspects of its operation, but this is the basic and essential, within the daily work of a trader.
If you liked this article, share it with your followers and friends. With a simple gesture you will help me as much as they! Do not forget that you can subscribe to my tickets, and that you will have a welcome gift in doing so.
Surely now you are working, and whatever your job, surely it is routine.
The routines in the Trading are necessary, essential and desirable to make money operating. Do not think that what I tell you here is exceptional, is what all traders who consistently make money in the market.
Good traders, like good athletes, are very maniacal. Look at Rafa Nadal, he always repeats the same gestures, as if they were going to give him luck ... in fact, he repeats a routine that generates confidence. He feels comfortable always doing the same things, tune his mind with his body, it's like a "mantra."
There are other professions in which routine is imperative. An airplane pilot, checks around 100 points on his checklist before taking off, why will it be?
The routines of a day trader, from ....
Being a day trader does not mean only operate Forex, Indices or actions, although the approach should vary depending on which you operate. As this is a Forex Blog, we will focus on the routines that should follow a day trader Forex.
1. Trader Review and Work Environment
Very few people pay attention to factors, which can be decisive for a good trading session.
I am talking about a management of the trader himself, and the tools he will use in the development of the session.
Management trader: How do you physically today? Does something hurt you? You have a cold? Or maybe you're in a bad mood?
We must be in perfect physical and emotional condition. If you slept badly during the night, yesterday you were partying and you drank more than the bill, you slept late, etc., can influence your performance.
We need to be agile mentally, and if we are bloated or clueless, because something hurts or we have a fever, we will pay in the form of money from our account.
Another important aspect is how we emotionally. If we have argued with someone, we are angry, or too excited, nor are we in the best conditions to operate.
Working environment management: Does your Internet connection? Do you have your mobile phone on hand? Is the connection to your platform and Broker working properly? Is your computer ...?
We must have our Broker's phone handy in case the connection fails and we have to call to close a position. It is also interesting to have some auxiliary method to operate, it can be a mobile phone, a tablet or another computer.
2. Review the movements of the previous night
I am assuming that you operate the European opening, in this case we will get up with time, to be before it opens London in front of the screen.
First we will review what has happened during the previous night, and see the opportunities available, depending on our strategies or Trading system.
This is what is to analyze the situation before you start trading. It is not convenient to open the computer and get to operate, it is best to review the technical situation before, with time.
3. News of the day
We must review the economic calendar, with potential impacts on couples operate. You have the economic calendar HERE.
Many traders prefer to stay out and not operate when there is news, however others seek. The important thing is that you do not get caught unawares, otherwise, you must follow your trading system.
4. Targeting
It is interesting to set goals daily profits and losses, for two reasons: not to operate, and stop trading when goals have been achieved, or has reached the allowed limit losses.
Although operating day trading, it is not convenient to work more than necessary. This work requires an iron control of the emotions, that is very demanding and generates a lot of wear and tear, the less time we operate, the better.
5. Maintain control of operations
During the session or after the session, we have to fill our daily Trading and our control of operations.
Our trading journal will reflect transactions with charts, input, output, results and emotional situation. It will help us to improve our performance.
We also need to write down all of our operations in our operations control, to monitor our broker's notes and to make pertinent statements to the treasury.
6. Study and prepare
Upon completion of routine operations, we use the remaining time to study new strategies, or prepare the next session of Trading.
This is the backbone of a day trader's routines. Each trader is different, and must incorporate and detail many aspects of its operation, but this is the basic and essential, within the daily work of a trader.
If you liked this article, share it with your followers and friends. With a simple gesture you will help me as much as they! Do not forget that you can subscribe to my tickets, and that you will have a welcome gift in doing so.
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