LIFE OF A FOREX DAY TRADER – by FxPremiere.com Trading the Forex Market ain’t easy. But what’s it really like? Early Morning Start using my best forex trading strategy. I start my day at 6:30 AM, London time. I know it’s early, but it’s a good time of the day to focus and go through everything while it’s quiet. I check how my open trades have faired, and do the necessary adjustments if necessary.
Keeping Track of my Trading Journal
By the time I am done with these, which usually take a good hour, I then update my Trading Journal. And although many of you will think otherwise, a losing trade should never be considered as lost money but rather as a means for you to earn more as LIFE OF A FOREX DAY TRADER.
I am not much of a fundamental trader myself, but knowing how the world goes gives me an edge in the markets.
I then check for trading opportunities, and I do this through the Momentum Meter. I also draw my Support and Resistance- How to check Support and Resistance, and lastly, I check the potential trading opportunities on my trading station.By 11 AM London Time, I hop on to discuss my thoughts about the markets. By the end of the day, I finish it with my second wrap things up, and once I am off my screens, I am done for the day. See, there is really nothing fancy with what I do. If there is one takeaway in this, it’s that learning is vital. It’s what helped grow into the Forex Trader that we all are. It helps me fortify what I already know, and it is what’s keeping me grounded.