A Trader’s Routine – The Capital

How To Improve Your Trading Results

Photo by Patrick Weissenberger on Unsplash

When I started my journey into this huge potential world traders live in, I never thought about the importance of a system that doesn’t only include trading. Had I knew that from the beginning, it would have saved me a lot of time (and of course, also money). Being a good trader isn’t just about reading charts properly and knowing how to place your orders. It’s about a solid routine. I’m going to share my daily routine with you, and hope that I’ll help save you some of your most valuable assets: TIME.

6.30 am: meditate for 10–20 minutes. Meditating calms your mind and increases your insight and creativity. Both of these are very important when trading.

7.00 am: read a book. The book should either be about trading or mindset.

7.45 am: write a journal. This is a moment of self-reflection. What are your flaws when trading, do you get emotional? What are your solid skills? You should be aware of these aspects to get better. And everybody can get better.

8.00 am: start reading charts. Exercise your technical analysis. Look for chart patterns. Draw trendlines. Learn to read the current trends, and know when a trend turns around. Don’t just pick any random stock/commodity. Pick something you enjoy reading about. I like the tech industry, so I try to keep my trading in that area as well. I tried trading all stocks, but I’ve never been more profitable now that I’m sticking to my niche.

9.00 am: prepare your trades for the day. Select a few charts that have potential. Define your entries, exits, stop losses, position size, etc.

9.30 am: market opens. Don’t be too eager to enter a trade. The first 30 minutes can be a bit volatile. You can prevent getting stopped out if you just wait and watch first.

10 am till 12.30 pm: actively trading. Log all your trades in a journal. In this journal, you should write down all necessary info. Check the image below to see how I log my trades.

12.30 till 14.00: eat, relax, read a book, workout, or take a walk outside. It’s very tempting to just stare at the charts all day. Don’t do that. Taking a break gives you back some of your focus from the early morning.

14.00 pm till closing bell: close some trades. Don’t be too greedy to close trades with small profits. You also don’t want to stack up trades. You will lose your focus if you have too many trades open.

As I said before, time is your most valuable asset. Try not to waste it by reinventing the wheel. Learn from others, and then teach others!

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