It’s Easy to Trade on a Rainy Day…

Filed under: Learn Forex Trading |

It’s easy to trade on a rainy day. You have nothing better to do, everyone else is out at work, and so you look at your forex trading charts and try to find price action setups. But can you keep this same discipline when the sun is shining, the birds are singing, and there is a ‘buy one get one free’ offer on down at your local ice cream shop? The point is – keeping your discipline is easy when nothing much is happening in your life, but can you manage your time when things are happening?

 

Time management is key if you want to become a professional forex trader. The main problem is that you don’t have a boss, someone to tell you what to do and when to do it. As a result, only the most motivated and self-disciplined of people will make it. But there are things that you can do to help you keep your discipline.

 

Through the day, I tend to do different things. I’m a freelance writer by profession, so that tends to take up most of my time. But as I work from home, I have a pretty flexible schedule. If it’s sunny, I might mow the grass or play some golf. If it rainy, I might go to the gym or have a swim in the local pool. What is the point of being self-employed if you cannot enjoy yourself! I work when I feel like working, but this does not mean that I don’t get things done.

 

With regards to trading, I set a bleeper on my iPhone (an application called ‘hourly’) to go off every hour. If I am near my computer, I check my charts for any setups (it only takes 5 minutes). If I’m out doing something, then I don’t worry about it because I know there will be plenty more setups forming later.

 

The important thing is to have some kind of routine and to check your charts regularly. If you can do this, then you will be well on your way.

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