A trader's working day.

When starting their careers, most newbies think their work will be limited to clicking a few buttons and counting their profits. Unfortunately, it's not that simple, and a trader's day isn't limited to just the time spent opening trades.

Trading on Forex or similar exchanges shouldn't be confused with gambling; those who think that way usually lose their deposits within a few hours. Successful trading requires not only the trading process itself, but also constant improvement of your knowledge.

A trader's workday consists of such components as: analyzing the market situation and recent events, analyzing statistics on completed transactions, creating and testing new strategies or scripts, and making forecasts.

Forex operates 24/7, so you don't necessarily have to wake up at 8 a.m. and start work at 9 a.m., but you should still follow one simple rule: at least four hours of trading each day. Here's what a trader typically does during their working hours:

1. Analysis – this is a basic component of any exchange. When you open the trading terminal, you always review the history since your last entry. Important levels, support and resistance lines , and the current trend are identified.

Then, you move on to reviewing past events and those planned for the near future.

This typically takes about an hour, but as a result, you already have an idea of ​​what's happening in the market.

2. Opening a trade – after analyzing, you already know when and where to open a trade. At this stage, a new position is opened or pending orders are placed , depending on the situation.

3. Free time – after completing the first two stages, many consider the trader's working day over. Orders will automatically close at stop-loss or take-profit levels, so you don't have to sit at the terminal all day.

This statement is only partially true; it's only true if you're satisfied with your current profitability, but if you want more, you need to constantly analyze your work and learn.

It's impossible to know everything by reading a new book or watching a seminar; you always learn something new that can be applied in your work. Furthermore, it's useful and interesting to create and test new trading strategies , testing your assumptions in practice.

Those who perceive the phrase "irregular working hours" as a form of doing nothing are seriously mistaken. Forex takes up 8-10 hours a day for me, and perhaps the time will come when I can open trades blindfolded, but for now, I have to work in this mode.