E A Day Traders Day

I have been asked recently how my day is structured between, technical analysis, trading, study and personal errands. It took me a long time to find a structured daily routine that works for me, so it is very personal, but my journey may help people cherry pick what may work for you, I thought this may be worth writing a short article.

For me personally, routine and habits are very important. Developing a habit can take anywhere from 21 to 66 days from what I've read, so establishing what your day will look like, will in its self-take a month or two of repetition before it starts to become a pattern. Once your routine and habits are established, I find myself refining and progressing it as life changes.

So, my day starts at 5:00 am. I wake, I think of 3 things to be grateful for and then shower and grab a cup of tea or orange juice. This gives me 30 minutes to wake up properly and get my head into the day's work. I like waking early, as I feel like it gives me an edge. It's quiet and peaceful, I can concentrate without any distractions outside, without my phone going off and everyone else in my house is sleeping. 

5:30am I fire up my computer and take a few minutes and repeat my affirmations and spend 10 minutes or so meditating to focus my body. 

Once I'm ready, I open my charting software and I begin my technical analysis. I start each pair looking at the monthly, weekly, then daily, then drop down to the 4 hour. I'm looking for patterns and setups. I'll draw my trendlines and fib levels and look for entry levels for each pair, sometimes dropping down to the hourly to find a good entry level. I will look for various elements for a trade setup to be confirmed but I won't get into in this article. I set my alerts for any patterns that I see, and I'll make notes on what I want to look for during the day to come.

At 8:30am, I'm ready for the open. If I've entered trades before the open and they are in profit, I will consider closing the position and take profit as in my own personal view, I have found that positions at open can reverse, so I'm happy to bag any preopen pips that I may have gained That's not a rule but something I do consider. At this point, I will keep an eye on any open trades and if alerts are triggered I will watch the instrument and wait for confirmation then enter the trade when all my parameters are satisfied. 

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