My daily trading routine

How to Trade Forex Market

When it comes to trading, I follow the same specific routine every single day. I noticed on the forums most people my develop some good habits like checking the news before a trade, but if you want to be a professional trader you need to go above and beyond and follow a set routine every single day, and make your trading as methodical as possible, so below I will give my routine.

  1. Record News Articles. Then I read through the news articles and save the key phrases, Paragraphs, quotes, etc., that give me an insight into the markets expectations, sentiment, global macro, etc

2. Record Propriety News Impact Releases so I know what is happening today in the news, and when not to trade. Record impact of any other intraday events which were not on calendar which moved the Market things like the Coronavirus can move the market, and I like to know about that kind of thing so I’m not caught off guard by “unexpected” market moves.

3. Look at currency pairs volatility to build a watch list of 6-8 pairs to trade for the day. Label the Support and Resistance levels on my chart and set price alerts to the two closest Ones – one to the topside and one for the downside. Then once one of those gets triggered, I just reset the price alert to the next closest support/resistance level.

After that I am all set for the day and wait for my strategies entry criteria to be met to place trades. This is of course a very basic of how my routine goes, I also check trading screener frequently in order to research the pairs I am trading, and have a set strategy I use and follow which also requires some specific research. But this should give you an idea of the kind of routine you need to successfully and consistently trade the markets, if anyone has their own routine they want to share, or something to input, please put your comments below!

Elijah Newell

Elijah Newell

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