POLL: How much time do you study/plan and perform your PERSONAL trading daily?

[Buy1Sell2]

Quote from jaronimo:

Theres no way I would be able to spend only 30 minutes a day on the markets.

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This is a classic case of way too much info. I would get rid of all the reading--it will only cloud your decision making. Each market should take a minute or less to review each night. Now if you are daytrading, then certainly a person is spending more time in front of the screen etc., but I am talking about nightly/(daily)research of the markets.

 

[increasenow]

Quote from Buy1Sell2:

You should be able to complete all work associated with the markets in less than 30 minutes daily. Most of the work is cumulative and the only thing being added to the equation is the current day's numbers. Anything more than 30 minutes is way too much work or way too much info.--

Great post B1S2...I totally agree with this...I believe you should be always narrowing down the "perfection of the shot"...this is great...

 

[jaronimo]

Quote from Buy1Sell2:

This is a classic case of way too much info. I would get rid of all the reading--it will only cloud your decision making. Each market should take a minute or less to review each night. Now if you are daytrading, then certainly a person is spending more time in front of the screen etc., but I am talking about nightly/(daily)research of the markets.

I appreciate your opinion, but it seems to work well for me.

As far as the reading goes, I have always read a lot. It just so happens I enjoy reading about markets, trading, finance, etc. If I wasn't reading something to improve my knowledge base then i would probably spend my time in front of the tv. And it is very rare to learn something from the tv. Discovery channel, tlc, and some of the fact based channels excluded.

 

[Buy1Sell2]

Quote from jaronimo:

I appreciate your opinion, but it seems to work well for me.

As far as the reading goes, I have always read a lot. It just so happens I enjoy reading about markets, trading, finance, etc. If I wasn't reading something to improve my knowledge base then i would probably spend my time in front of the tv. And it is very rare to learn something from the tv. Discovery channel, tlc, and some of the fact based channels excluded.

That's fine that you are occupying your time with something other than the TV. My point is simply that it is unnecessary for successful trading. Also unnecessary are S/R levels and volume areas etc. Charts are great, but the S/R and volume stuff does not need review. Markets are designed to bust through those areas and give the patient trader the lion's share of the rewards.

 

[rcanfiel]

Quote from Buy1Sell2:

That's fine that you are occupying your time with something other than the TV. My point is simply that it is unnecessary for successful trading. Also unnecessary are S/R levels and volume areas etc. Charts are great, but the S/R and volume stuff does not need review. Markets are designed to bust through those areas and give the patient trader the lion's share of the rewards.

I would say this is up to the individual trader. What works for someone may not interest someone else.

Some are scalpers. Some are position traders. If it works for him, then he should not be discouraged from it.

I put in one premarket trade a day. 15 minutes of so. That doesn't mean someone who sits at the computer for 4 hours making quick trades is therefore wasting their time...

 

[Buy1Sell2]

Quote from rcanfiel:

II put in one premarket trade a day. 15 minutes of so. That doesn't mean someone who sits at the computer for 4 hours making quick trades is therefore wasting their time...

I am talking about homework and analysis. I realize that the OP asked about performing the plan as well, so I may be a bit off base with my response. I apologize.

 

[austinp]

Intraday traders need little if any time to study markets. It all unfolds in real-time clearly enough. I never look at charts to make trade decisions outside of live market hours... just let the lagging indicators lead me to where price action is probable to head next.

Swing traders, including one-trade intraday swing trade players need to do some homework ahead of time. Daytraders who follow the ups & downs only need do so in real time while it unfolds.

During those numerous sideways / up & down sessions where swing traders of all descript make nil $ or get repeatedly stopped for losses, intraday traders see setups created in real-time that are impossible to forecast ahead of time.