If you are a professional and also a trader you know how tough it can be to try to work and trade at the same time. I have yet to figure out the perfect system, but I have worked it out so that, at least during the end of the London session and the beginning of the NY session and not miss out on too much. The problem with trading the Forex is that its a 24 hour market and there are three main cycles the Asian session starting about 7 or 8 pm EST (including Australia, New Zealand, Japan, China, and Hong Kong), the London session starting about 2 or 3 am EST (Great Britain, Germany, Switzerland), and the New York session (U.S., Canada, Mexico, South American countries). Generally, after noon or so, the markets quiet down until the Asian session, so one could watch the markets from 7 pm through until noon the next day. Of course, that is not reasonable. If you are going to work and trade, you have to set some limits.
I start by getting up at 5 am. This allows me to see what has been happening in the early hours of the London session and set up trades for the New York open or monitor trades which opened overnight. I spend 2 hours getting my charts in order and monitoring trades then I go to work. If I am in the office, I open my trading platform and note where my trade positions and orders are. I never set up a trade that I have to watch in real time while at work. I've tried that before and as soon as I set up such a trade, things would go haywire at work and my concentration would be scattered. No. Only trades with wide stops that I can check occasionally to make sure things are working as planned or to close them out if they are not. I try to check the charts at least every half an hour or so just to make sure I'm on track. Once you are used to the system, a quick glance is all it takes to see where you are.
I try to get home between 6 and 7 pm. I like to spend a little time with my daughter (she's 5) before she goes to bed. Once she's tucked in I'll check the Asian session start and see if I need to do anything or how the session start is affecting my trades. All in all I spend about 3 hours a day on trading Forex. This leaves the bulk of my time to practice law (which I enjoy and would not want to give up). I hope this helps you see that trading and professional advancement need not be mutually exclusive.
Happy Trading!
I start by getting up at 5 am. This allows me to see what has been happening in the early hours of the London session and set up trades for the New York open or monitor trades which opened overnight. I spend 2 hours getting my charts in order and monitoring trades then I go to work. If I am in the office, I open my trading platform and note where my trade positions and orders are. I never set up a trade that I have to watch in real time while at work. I've tried that before and as soon as I set up such a trade, things would go haywire at work and my concentration would be scattered. No. Only trades with wide stops that I can check occasionally to make sure things are working as planned or to close them out if they are not. I try to check the charts at least every half an hour or so just to make sure I'm on track. Once you are used to the system, a quick glance is all it takes to see where you are.
I try to get home between 6 and 7 pm. I like to spend a little time with my daughter (she's 5) before she goes to bed. Once she's tucked in I'll check the Asian session start and see if I need to do anything or how the session start is affecting my trades. All in all I spend about 3 hours a day on trading Forex. This leaves the bulk of my time to practice law (which I enjoy and would not want to give up). I hope this helps you see that trading and professional advancement need not be mutually exclusive.
Happy Trading!
