A Full-Time Traders Schedule
Managing Your Trading Day
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The Full Time Schedule
If you’re a full–time trader, you have the luxury of being able to be at the screens all day… if you wish. But that’s mentally draining. Many traders can’t wait to trade ‘full time’ but then start to notice a performance drop when they are at the screens for too long. Focus starts to wane, you end up missing moves, or overtrading.
If you are a full–time trader, one of the crucial elements to making it work is to get a firm grip on your time management.
You can’t just sit in front of the screens reacting to anything you see! So, how could you take charge of your time and maximise your focus and productivity? Let’s use an example of a UK resident trading the US market.
Now, if he’s not careful he can be up at 7 am and at the screens all day until the US close at 9 pm. (Been there and done that for years, it was a mistake and slowed my growth).
Here's a Better One
8 am – 12 pm
- Glance at European indices, news, and overnight action
- Gym, exercise
- Light lunch
- Consume trading-related content, books, courses, and webinars
- Admin tasks and errands
12 pm – 2 pm
- Trade review
- Pre-market prep
- Idea generation
2 pm – 5 pm
- Trading the open
- Position for the bigger move of the day
- Add or amend orders
5 pm – 7 pm
- Break
- Family time
- Relax, read a trading book
7 pm – 9 pm
- Recalibrate, check orders or trades
- If there’s a trade setting up, look to play that idea
- If not, use the time to journal, document, and improve
- Or shut down the screens
Now of course this is just an example. The point here is to split up your day into chunks, and not fall into the trap of being a screen slave.
Because if you can take charge of your day, you’ll be able to design it to harness your focus, work around your existing commitments, and leverage on the most fruitful trading opportunities.
In that case, you either needed to be prepared for the retest under high volume conditions with a wider stop or consider a second bite of the cherry.
A nice clear setup that’s easy to scan for and trade.