Go through ALL flagged trades before placing a trade. This assures you know all the pairs that will be on your radar today, and at what levels. You can also compare each trade to the other potential trades, finding the best ones considering reward:risk , etc.

Check correlation if considering more than one pair. Avoid multiple pairs that are highly correlated. Choose between them or split one position size between the highly correlated trades. No need to think much here. The work and analysis should already be done. Place the pairs you need to watch on those charts. Draw in the area and direction you want to trade, so that at a glance you can see if the trade triggers…this probably means having the charts set to the timeframe where you receive your trading triggers from.

Work out how you will monitor these trades. You may want to set alerts on your charting platform to let you know when a trade is approaching a trade level if possible. If you have other obligations, schedule a time to come back and check on these trades. Your trading plan should already have all these answers in it! TIME : A specified time of day to check on the trades that were close to setting up. Also, stipulate if you are NOT going to check trades after or before a certain time.

Did the routine get followed? If yes, congratulate yourself! If not, write down why. Then move on two, then three, then the whole routine, gradually. Was the trading plan followed? What were the successes and failures? Note how this could be improved. These positively reinforce change when it comes to common trading mistakes.

Some examples are below, but any statements you meditate on should be based on your own trading. I follow my trading plan, and my routine and checklist help me do it. Sunday 3 PM : Review trades from prior week. Note mistakes and things done well.

Make sure trade logs are up to date, and trades have been screenshotted and saved or printed. REAFFIRM THE EXIT STRATEGY IN EACH TRADE THAT IS OPEN. IF YOU ARE A DAY TRADER, CHECK OUT THE 5-minute pre-trade routine. It is a good start to a daily routine, then you just have to add in when you will do your reviews, and what you do before and after trading.

I also look for stock swing trades in the evening, so I have a routine for that. M y method for swing trading stocks is covered in the Complete Method Stock Swing Trading Course. Remove excitement, doubt, anger, optimism, pessimism…I want to get to where I feel neutral. That way emotions are less likely to affect my judgment. If angry, then everything is an opportunity for revenge. Depressed or sad, nothing may look worthwhile. Are conditions favorable for taking trades?

If yes, or close, then scan. If conditions are unfavorable, then go do something else or spend the time reviewing prior trades or working on other strategies. Start scanning for patterns; adjusting scan criteria for current market conditions. If I have lots of time this evening, relax the criteria slightly to allow for a larger list. If I have time constraints, then tighten the criteria so there are fewer stocks to go through zero-in on higher performance parameters.

Write down all stocks that look close to fitting the parameters of a trade, or that are close could fully set up prior to my next scan. Go through all stocks before analyzing any single one closely or putting out orders. Every trade should look ideal, because an ideal trade means it meets all the strategy parameters. Note how much capital I have available for trades, and then I know the maximum number of trades I can take based on position size.

Stocks with orders and live trades are placed on my live trades watchlist in TradingView watchlist 8 per layout, and I have multiple layouts open in multiple browser tabs , with the order levels marked. If the stock is no longer looking like it will setup, remove it from the watchlist.

THIS IS USEFUL TO DO EVERY DAY YOU HAVE TRADES OPEN. The trading plan should already have all these answers in it! See examples in the Forex routine above. Sunday 3 PM : Review trades from the prior week. Make sure the trade log is up to date, and trades have been screenshotted and saved or printed.

Make your own daily trading routines. Spend a few hours and come up with how your trading day looks. Be realistic, and accommodate your strengths and weaknesses.

Tweak the above daily routine as needed. Specify what your review process is after trading ends, and set limits on when you will look for and take trades.

The daily debrief is also very important. My daily routine took me several hours to think about and figure out and some days I day trade, others I swing trade, so I have routines for all of them. I had to take my life into account, as well as my personality, and my trading plan. A customized routine is well-thought-out and helps you stay focused on executing your trading plan and eliminating mistakes.

My routine gets tweaked from time to time as life changes or I notice certain changes in my trading. Review the routine once a month to make sure it still fits your lifestyle and your trading plan.

The EURUSD Day Trading Course covers how I day trade forex in less 2 hours each day. The Complete Method Stock Swing Trading Course covers how I swing trade in about hours per week can adjust based on how often you scan for trades. D isclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using leverage.

Cory is a professional trader since In between trading stocks and forex he consults for a number of prominent financial websites and enjoys an active lifestyle. He runs TradeThatSwing and coaches individual clients.

Another gem written. I have always had a daily routine but never a well thought out one that directly relates to the markets and my trading performance. My trading and quality of life is improving each week I train which is bringing enjoyment to this process. Thanks Cory, a great sharing. Want to day trade for a living? Day trading is one of the most popular trading styles in the Forex market. However, becoming a successful day trader involves a lot of blood,…. Becoming a full-time trader with consistent profits means financial freedom and being your own boss.

Most new and inexperienced traders would like to start trading with a small trading account, and brokers have carefully listened. Most brokers have lifted their…. Next: Step 2 of 4. Phillip Konchar July 30, Learn more, take our Trading for Beginners course. Some Forex examples …. Outcome 1 - Winning trade. This is box title. Key Chart levels Every Forex Trader Should Know. Categories: Skills. Phillip Konchar. Related Articles. Joe Bailey October 8, Joe Bailey September 29, Phillip Konchar June 2, Joe Bailey October 23, Joe Bailey October 26, Request a Free Broker Consultation.

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A daily routine helps keep traders on task with the things they are supposed to be doing, instead of succumbing to distraction. A daily routine, along with a pre-trade checklist , aligns us with our trading plan —which is our written plan for entering, exiting, and managing trades. Whether day trading or swing trading, trading stocks or forex, the daily routine should be realistic, and work our trading plan into it.

While a trading plan may tell us how to enter a trade, the daily routine details how we find and stalk that trade, from beginning to end, over and over.

The daily routine is also used to help reduce trading mistakes and work on problem areas. Here are some examples of daily swing trading and day trading routines for stocks and forex. As mentioned, your daily routine should be realistic for your own time constraints and tailored to your strategies.

I have included times for demonstration purposes, but you would of course put in the times that work for you. Move from one activity to the next with fluidity. If your times are not accurate for the task, you will either not be able to finish everything you need to, or if you have too much time between tasks you may get distracted by other things. During your trading time, focus on trading. If you need to do those things, schedule a few minutes for them.

Focus on what is in the routine, only at the time it is scheduled for. Depending on how busy my life is at given times, or my preference, I sometimes look for swing trades in the morning, and at other times I day trade forex in the morning.

Reinforce that it is my trading time right now. Other tasks can wait until the designated times in the routine, or until free time. I also like to reinforce that I have no expectations for today , except to follow my plan and take what the market offers. This is a commonly skipped step, but is very important for developing consistency. Consciously note each specification for an entry, and how the patterns you trade or criteria you trade look.

Review each strategy type you are looking for, and why you trade ONLY those patterns. Even though you know your trading plan, do this step every day.

Visualize a trade for each strategy in your plan, seeing it through to completion win and loss. Read it with conviction and intention and awareness. Consciously note each task.

Say each one, and the process and time you will give it. Even though you know your routine, do this step every day. Flag possible trades or write them down, then KEEP GOING through the entire list of forex pairs. Check for trade setup on lower time frames. Go through ALL flagged trades before placing a trade. This assures you know all the pairs that will be on your radar today, and at what levels. You can also compare each trade to the other potential trades, finding the best ones considering reward:risk , etc.

Check correlation if considering more than one pair. Avoid multiple pairs that are highly correlated. Choose between them or split one position size between the highly correlated trades. No need to think much here. The work and analysis should already be done. Place the pairs you need to watch on those charts.

Draw in the area and direction you want to trade, so that at a glance you can see if the trade triggers…this probably means having the charts set to the timeframe where you receive your trading triggers from. Work out how you will monitor these trades. You may want to set alerts on your charting platform to let you know when a trade is approaching a trade level if possible. If you have other obligations, schedule a time to come back and check on these trades.

Your trading plan should already have all these answers in it! TIME : A specified time of day to check on the trades that were close to setting up. Also, stipulate if you are NOT going to check trades after or before a certain time. Did the routine get followed? If yes, congratulate yourself! If not, write down why. Then move on two, then three, then the whole routine, gradually. Was the trading plan followed? What were the successes and failures?

Note how this could be improved. These positively reinforce change when it comes to common trading mistakes. Some examples are below, but any statements you meditate on should be based on your own trading. I follow my trading plan, and my routine and checklist help me do it. Sunday 3 PM : Review trades from prior week. Note mistakes and things done well. Make sure trade logs are up to date, and trades have been screenshotted and saved or printed. REAFFIRM THE EXIT STRATEGY IN EACH TRADE THAT IS OPEN.

IF YOU ARE A DAY TRADER, CHECK OUT THE 5-minute pre-trade routine. It is a good start to a daily routine, then you just have to add in when you will do your reviews, and what you do before and after trading.

I also look for stock swing trades in the evening, so I have a routine for that. M y method for swing trading stocks is covered in the Complete Method Stock Swing Trading Course. Remove excitement, doubt, anger, optimism, pessimism…I want to get to where I feel neutral. That way emotions are less likely to affect my judgment.

If angry, then everything is an opportunity for revenge. Depressed or sad, nothing may look worthwhile. Are conditions favorable for taking trades?

If yes, or close, then scan. If conditions are unfavorable, then go do something else or spend the time reviewing prior trades or working on other strategies.

Start scanning for patterns; adjusting scan criteria for current market conditions. If I have lots of time this evening, relax the criteria slightly to allow for a larger list. If I have time constraints, then tighten the criteria so there are fewer stocks to go through zero-in on higher performance parameters. Write down all stocks that look close to fitting the parameters of a trade, or that are close could fully set up prior to my next scan.

Go through all stocks before analyzing any single one closely or putting out orders. Every trade should look ideal, because an ideal trade means it meets all the strategy parameters.

Note how much capital I have available for trades, and then I know the maximum number of trades I can take based on position size. Stocks with orders and live trades are placed on my live trades watchlist in TradingView watchlist 8 per layout, and I have multiple layouts open in multiple browser tabs , with the order levels marked.

If the stock is no longer looking like it will setup, remove it from the watchlist. THIS IS USEFUL TO DO EVERY DAY YOU HAVE TRADES OPEN. The trading plan should already have all these answers in it! See examples in the Forex routine above. Sunday 3 PM : Review trades from the prior week. Make sure the trade log is up to date, and trades have been screenshotted and saved or printed. Make your own daily trading routines.

Spend a few hours and come up with how your trading day looks. Be realistic, and accommodate your strengths and weaknesses. Tweak the above daily routine as needed. Specify what your review process is after trading ends, and set limits on when you will look for and take trades. The daily debrief is also very important.

My daily routine took me several hours to think about and figure out and some days I day trade, others I swing trade, so I have routines for all of them. I had to take my life into account, as well as my personality, and my trading plan. A customized routine is well-thought-out and helps you stay focused on executing your trading plan and eliminating mistakes. My routine gets tweaked from time to time as life changes or I notice certain changes in my trading. Review the routine once a month to make sure it still fits your lifestyle and your trading plan.

The EURUSD Day Trading Course covers how I day trade forex in less 2 hours each day. The Complete Method Stock Swing Trading Course covers how I swing trade in about hours per week can adjust based on how often you scan for trades. D isclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything.

Trading is risky and can result in substantial losses, even more than deposited if using leverage. Cory is a professional trader since

Access to the Community is free for active students taking a paid for course or via a monthly subscription for those that are not. Commodity profile. Fundamentals set the tone and they provide a lot of information that is necessary to know about. Want to day trade for a living? My trading and quality of life is improving each week I train which is bringing enjoyment to this process.

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