In today forex faq, we have a questions from our readers asking me how many hours I need to monitor my chart everyday.
Below are the questions
How many hours do we have to monitor our trade by using your trading strategy?
First of all, you need to understand that I am a full time trader which means that I have nothing to do except for trading.
Although I am a full time trader, I am not glued to my computer all the time as this will defeats the purpose of me becoming a trader. One of the reason why I decide to become a trader is to have freedom. Therefore I do not get myself stuck to the computer everyday none stop.
For me, I will take a look at my chart the moment I wake up to see if there is a trading opportunity coming. I usually scan through all the charts for trading opportunity based on those strategies that I have taught my students in my Forex Course.
This whole process usually takes about 15 to 20 minutes.
If there is no trading opportunity found, I will then make it a point to look at my computer every 1 to 2 hours.
This is because there is always a presetup before a trade is deemed as a valid trading opportunity and all these are being taught in the course as well.
So every 1 to 2 hours, I will take a look at my chart for presetup. Once I spotted it, I will then let the price runs for another 30 minutes and I will be backed on my computer to wait for an entry.
Even before I sleep at night, I will make it a point to look at the chart for any presetup. If there is, I will wait till I enter the trade before I sleep.
However I understand that a lot of my students are holding a day job and therefore have limited time to look at your chart.
For those of you who are new to the course, I do not want trading to affect your working performance. I will suggest that you guys fix a time at night where you are free and relax to look at the chart.
What you can do is to scroll the chart to the beginning of the day and then start looking for trading opportunity based on what I teach you in the course.
Then you can do a paper trading mode to see if you can get to make profits or not.
For those of you who have completed your paper trading and find that you are able to trade profitably for at least 3 consecutive months, you can then install your demo MT4 account on your ipad.
With your ipad, you can then take a look at your chart every 1 or 2 hours like me and this will not affect your work performance as well as trading performance.
As and when you see a trading opportunity, you can then enter via your ipad.
The above are my personal advice to all of you here in my blog. I hope that I have answered your question.