Trader's working day.

When starting their career, most newcomers think that all their work will come down to a few clicks of buttons and counting the profits earned.

But, unfortunately, not everything is so simple, and a trader’s working day is not limited only by the time spent on opening transactions. Trading on Forex or similar exchanges should not be confused with playing in a casino; those who think this way usually lose their deposit within a few hours. Successful trading requires, in addition to the trading process itself, to constantly improve your knowledge.

A trader’s working day consists of such components as analysis of the market situation and recent events, analysis of statistics on completed transactions, creation and testing of new passions or scripts, making forecasts.

Forex works around the clock, so you don’t have to get up at 8 am and start work at 9, but you still have to follow one simple rule - spend at least 4 hours trading every day.

And this is what a trader usually does during working hours. 1. Analysis is a basic component on any of the exchanges; by turning on the trading terminal, the history for the time since the last entry is always viewed. Important levels, support and resistance lines , as well as the existing trend are determined.

Then you should move on to reviewing the events that have happened and those that are planned in the near future.

This usually takes about one hour, but as a result you already have an idea of ​​what is currently happening in the market.

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

3. Free time - after the first two stages are completed, many people think that the trader’s working day is over.

Orders will be closed automatically by stop loss or take profit, so you don’t have to sit at the terminal all day. But this statement is only partly true, everything is true if you are satisfied with your current level of 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 you can apply in your work. In addition, it is useful and interesting to create and test new trading strategies , testing your assumptions in practice.

Those who perceive the phrase irregular working hours as an option for doing nothing are greatly mistaken. Forex takes me 8-10 hours a day, perhaps the moment will come when it will be possible to open transactions with my eyes closed, but for now I have to work in this mode.