I can confidently say that it isn't the trading style or trading system of a trader that often causes trading failures. But the wrong organization of his working hours. This is due to the fact that the effectiveness of a trader's work directly depends on his psychological state, and the psychological state in its turn strongly depends on the accuracy and organization of the working process.
A trader's working day begins from the moment of market opening. First of all, it is necessary to check your open positions. The fact is that under the influence of various factors (for example, news about the events that happened last night), prices can dramatically change their directions literally in the first minutes after the start of trading. If necessary, you can adjust positions (for example, to move stop loss and take profit orders), or close them altogether (if the current price development contradicts the original prerequisites for opening a given position).
After that 1-2 hours should be allocated for viewing and analyzing potentially interesting financial instruments for trading. Of course, all positions are opened in strict accordance with my capital management strategy.
This simple organization of the working day allows a trader to work quite efficiently avoiding unnecessary emotional overloads and, as a result, unnecessary financial losses.
A trader's working day can last from three to five hours, and in many cases even less. In this case, all major issues are solved and there is still plenty of time to enjoy life.
