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  1. #1
    WolfG6 is offline Junior Member
    Join Date
    Apr 2019
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    Question A Forex question

    How many hours per day do you spend working? Does fewer hours trading mean less money earned?

  2. #2
    John Lowe is offline Junior Member
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    Jan 2019
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    Quote Originally Posted by WolfG6 View Post
    How many hours per day do you spend working? Does fewer hours trading mean less money earned?
    No it does not. Your Forex Strategy determines how many trades you open in one day and how much time you will spend monitoring your trades. Scalpers spend more time monitoring their trades, while long term trades open several trades and does not do anything about it for 5 to 30 days. So the long term traders spend less time trading.

  3. #3
    FTS
    FTS is offline Junior Member
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    Nov 2018
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    It all depends on your trading style and strategy. If you are an active daytrader or scalper, you will spend almost all your time staring at charts. If you are an investor or mid-term trader, you can open charts to analyse them before opening the position or to check your existing positions from time to time (but you will spend a lot of time reading news and reports).
    It also depends on the way you build your trading routine. It would take less time for you to conduct your daily preparations if you will have a list of most realiable news sources - in this case a half an hour would be enough to check them all. Make your strategy as detailed, as possible: if you know exactly what setup you are looking for it would take less time for you to find it and you will be able to avoid spending time on useless watching charts. Another time-consuming process is manual strategy testing, because you have to make dozens of simulated trades to get the resluts. The way to deal with this is to automate it using special backtesting tools like Forex tester which would provide you with the detailed information on the performance of your strategy just in a few minutes. It would be also useful to turn off all notifications that could disturb you during trading. If you will lose concentration it will take time to get back into trading process again.
    So, if you are limited in free time, pay attention to swing/mid-term trading strategies and check all your daily processes to find inefficient elements and improve them. Time is your mane asset so use it carefully.

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