Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Dinerotrader

How Much Time Do You Spend?

Recommended Posts

I was just wondering how much time others are putting in on a daily basis related to their trading career. I was trying to add up what I spend right now and thought it would be nice to see how much time others are also spending. If you would be so willing, please post your time spent on average per day as broken out below.

 

A = Actual trading (watching the DOM, entering orders, etc..)

B = Trading methods review, review of the day’s trading, record keeping, etc..

C = Researching new methods, reading books, reading TL for new trading ideas

 

Here are my current numbers:

A - 4 hours

B - 2 hours

C - 2 hours

Total daily average: 8 hours

 

I do expect that number to come down after a year or so more of trading but for now, I have a lot to learn.

Share this post


Link to post
Share on other sites
  Dinerotrader said:

A = Actual trading (watching the DOM, entering orders, etc..)

B = Trading methods review, review of the day’s trading, record keeping, etc..

C = Researching new methods, reading books, reading TL for new trading ideas

 

A: 3-5

B: 1-3

C: 0-3

 

As time goes on, I spend less time on C and more on A and B.

Share this post


Link to post
Share on other sites

A = Actual trading (watching the DOM, entering orders, etc..)

B = Trading methods review, review of the day’s trading, record keeping, etc..

C = Researching new methods, reading books, reading TL for new trading ideas

My numbers are as follows:

 

A - 12 hours

B - 3 hours

C - 0.5 hours

 

A and B are overlapping since I am watching the markets during Asian hours all the way to US morning while reviewing stuff throughout the day. C is something I have cut drastically over the past year. I have stopped learning new or other peoples method but instead sharpening my own.

Share this post


Link to post
Share on other sites
  Dinerotrader said:
Here are my current numbers:

A - 4 hours

B - 2 hours

C - 2 hours

Total daily average: 8 hours

 

That's impressive Dinero, considering you also work full-time (if I'm not mistaken).

 

If you don't mind, would you be willing to share your daily trading/work schedule (which hours you trade, which hours you work)?

 

Thanks,

 

Cory

 

EDIT: I don't mean to be intrusive...I was just curious because you appear to post/trade during the typical work day...I may have to get a full-time or maybe part-time job in the future, depending on how trading's going, so this topic is of particular interest to me...

Edited by Cory2679

Share this post


Link to post
Share on other sites

Previously when longer term trading

A=2 hrs

B=1hr

C=3 hrs (including reading papers, the internet, everything)

 

Now attempting to day trade more.

A=8 -10 hrs

B=1hr

C=8 -10 hrs (same as watching the DOM really)

 

Actual financial results seem to have a negative correlation to the hours spent so far.....which should be telling me something. (I should stick to my longer term trades)

Share this post


Link to post
Share on other sites
  Cory2679 said:
That's impressive Dinero, considering you also work full-time (if I'm not mistaken).

 

If you don't mind, would you be willing to share your daily trading/work schedule (which hours you trade, which hours you work)?

 

You forgot to post your own numbers Cory.

 

Yes, I am a CPA working a full time job at a fortune 500 company. I basically just get the work I am required to do completed and trade all other times. I go to work 2 hours early to trade the 1st 2 hours of oil and I can normally trade the 3rd hour uninterrupted as other employees trickle in (I live in Arizona so pit open is at 6:00am my time).

 

I am too risk adverse to quit my job until I am making more than my current income with real money trading. I have 4 sons (twin 5 year olds, a 3 year old and a 1 year old) with another boy on the way and the wife doesn't work so I don't have a lot of room for failure. I have gradually traded more and more over time at work and made sure my superiors knew I was a "do the bare mimimum" kind of employee so they wouldn't give me more responsibilities. Thank goodness for Open ECry because they are the only broker I have been able to download and use on my corporate computer. More info than you wanted but I got on a roll.

 

I hope more traders post their numbers here. I think it is really good for new/aspiring traders to see how much work time is actually put into trading. It also helps me to get motivated to make more time for trading development.

Share this post


Link to post
Share on other sites
  DugDug said:
Previously when longer term trading

A=2 hrs

B=1hr

C=3 hrs (including reading papers, the internet, everything)

 

Now attempting to day trade more.

A=8 -10 hrs

B=1hr

C=8 -10 hrs (same as watching the DOM really)

 

Actual financial results seem to have a negative correlation to the hours spent so far.....which should be telling me something. (I should stick to my longer term trades)

 

Actually what it's telling you DD is that daytrading is not something that can be mastered in a short period of time. It will take you years to master this trade.

Share this post


Link to post
Share on other sites
  Dinerotrader said:
You forgot to post your own numbers Cory.

 

Fair enough. :)

 

Week:

 

A: 10.5 hours (Forex - EUR/USD: 8am-2:30pm, 7pm-11pm, eastern time).

B/C: about 1.5 hours

 

Weekend:

 

B/C: Varies a lot...on average, probably about 6 hours per day.

 

I would work from sun-up to sun-down every single day, except for my girlfriend...I sacrifice some of my trading time for her.

 

Some may see that as a lack of dedication, but we have been together for 7 years and it's a relationship I wish to maintain...even if it means that success in trading is put off just a little longer.

 

-Cory

Share this post


Link to post
Share on other sites
  brownsfan019 said:
Actually what it's telling you DD is that daytrading is not something that can be mastered in a short period of time. It will take you years to master this trade.

 

Very true - after years of market making doing sometimes 200 trades a day, then trading longer term trend trading, you would think it might be easier, however I sometimes think I have more habits to break - I have to get into the habit of taking profits. Not usually a problem for many people. Its a very different discipline, related but different.

 

I certainly wish I had the dedication of Dinero - good luck - give my best to your wife - I come from a family of 5 boys so I can sympathise with you. :)

Share this post


Link to post
Share on other sites
  Cory2679 said:
Fair enough...

 

I added up the hours I posted to 72 hours per week...it's really probably more like 80 if I factor in all the time I spend working on trading (for example, I'm up now, almost an hour past "quitting time").

 

I was talking to my girlfriend about it...I think it'd be interesting to essentially keep a time card for a week for any time spent working on trading. I figure I'd probably average around 80.

 

I think that's reasonable...when Goldman Sachs was at my school, one of their recruiters told me that the analysts work, on average, 80 hour weeks (but some weeks as many as 120!). I can safely say that I never work 120 hour weeks, but I do probably average around 80.

 

  Dinerotrader said:
I am too risk adverse to quit my job until I am making more than my current income with real money trading...

 

Plus, if you ever want to be pulling down the big numbers, you're going to have to compound your returns and let your account grow. For me, even when/if I'm making decent money, it'll probably be a good long while before I'm willing to spend any of it.

Edited by Cory2679

Share this post


Link to post
Share on other sites

A = Actual trading (watching the DOM, entering orders, etc..)

B = Trading methods review, review of the day’s trading, record keeping, etc..

C = Researching new methods, reading books, reading TL for new trading ideas

 

Full time job as an owner/physician of an ER group. So my trading goes in spurts & fits. When home (and not tending to the 1 year old, or getting the other 2 girls off to school)

A: 4-8 hours

B: 0.5-1.0

C: TL has upped this a bit lately. 1.0-1.5 including 1-2 books usually being read at any given moment.

 

My glaring inability is category B - which to me means keeping that daily journal with (its better , but still only 60-70%) all of the trades. If I cant get my act together on that process (trade in AZ - so market closes = kids home from school = afternoon activities, then dinner, then inability to walk into office and do the hard work which is critiquing the day) If I cant get any better on keeping the diary up I may start to enact a 2 hour doldrum rule. Automatically turn off the feed on TS/T4 around 9AM local and log the AM trades as well as update the trade diary.

 

As someone who used to work 110-120 hour work weeks during my residency - I have found that trading is much more difficult mentally but alot easier physically. I do see the correlation that it takes a good 10,000 hours to become adept at this profession. That would leave another 4 years at this rate. I do enjoy the hours - and think the camaraderie that is found here in TL is very similar to that of a residency. Consists of alot of varied people taking their licks - seeking advice from the more experienced - and returning day after day to perfect their craft despite what curveball got thrown their way 24 hours earlier.

 

Weeks that I am working a fair # of shifts are typically no-trade weeks or perhaps having one glorious day in front of the screens. (Massive disappointment if that happens to be a quiet day!) So the hours can vary, but thats a good average.

 

I haven't entrusted myself enough to frequently trade the "set & forgets" - but do think that will be the next step in the evolution over the next couple of years. Which leads me to another question for the group - how many say they successfully swing & day trade? Or due to the mindset - are they mutually exclusive? (Perhaps for another thread).

Share this post


Link to post
Share on other sites

A = Actual trading (watching the DOM, entering orders, etc..)

B = Trading methods review, review of the day’s trading, record keeping, etc..

C = Researching new methods, reading books, reading TL for new trading ideas

 

A - 2. I only trade the first two hours of the session

B - 1 including pre-trade prep

C - ??? 1 or 2 not really something I do 'every day', more when I have free time.

 

I reserve most of 'B' to the weekends. Maybe 8 hours over the weekend.

Share this post


Link to post
Share on other sites
  Dinerotrader said:
I was just wondering how much time others are putting in on a daily basis related to their trading career. I was trying to add up what I spend right now and thought it would be nice to see how much time others are also spending. If you would be so willing, please post your time spent on average per day as broken out below.

 

A = Actual trading (watching the DOM, entering orders, etc..)

B = Trading methods review, review of the day’s trading, record keeping, etc..

C = Researching new methods, reading books, reading TL for new trading ideas

 

Here are my current numbers:

A - 4 hours

B - 2 hours

C - 2 hours

Total daily average: 8 hours

 

I do expect that number to come down after a year or so more of trading but for now, I have a lot to learn.

 

How do you define category A (in more detail)?

Do you include breaks in your 8 hours (lunch, coffee, cigs, etc) as in normal 8-hour day-job?

Share this post


Link to post
Share on other sites
  lbj said:
How do you define category A (in more detail)?

Do you include breaks in your 8 hours (lunch, coffee, cigs, etc) as in normal 8-hour day-job?

 

No inclusion of lunch, coffee, cigs, pot, heroine, etc. Category A would be actually monitoring positions or watching for entry/exits. Don't get too hung up on the details.;)

Share this post


Link to post
Share on other sites
  lbj said:
How do you define category A (in more detail)?

Do you include breaks in your 8 hours (lunch, coffee, cigs, etc) as in normal 8-hour day-job?

 

If this is the lbj that I know locally, please stay! We love you in Cleveland!

 

:thumbs up:

Share this post


Link to post
Share on other sites

Nice comments all.

 

A- 2 hours morning session, 2 Hours late day some days, not all.

B-1 hour per day M-F. Then i do a top down review on Sunday for 1 hour

C- I like to read or re-read some books, once every other week.

 

Try not to absorb any other traders systems or look at this or that ideas. Once you master Basic Price Action, market Phases, and know how to use a FIB your set. like Bathrobe said............ KEEP IT SIMPLE!

 

Happy 4Th.

 

Ed.

Share this post


Link to post
Share on other sites
  brownsfan019 said:
If this is the lbj that I know locally, please stay! We love you in Cleveland!

 

:thumbs up:

 

I smoke, so nothing to do with Cleveland! Do any soccer players still smoke?!

Do any soccer players now trade (not sure they need the money)?!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • NFLX Netflix stock watch, local support and resistance areas at 838.12 and 880.5 at https://stockconsultant.com/?NFLX
    • Date: 8th April 2025.   Markets Rebound Cautiously as US-China Tariff Tensions Deepen     Global markets staged a tentative recovery on Tuesday following a wave of volatility sparked by escalating trade tensions between the United States and China. The Asia-Pacific region showed signs of stability after a chaotic start to the week—though some pockets remained under pressure. Taiwan’s Taiex dropped 4.4%, dragged lower by losses in tech heavyweight TSMC. The world’s largest chipmaker fell another 4% on Tuesday and has now slumped 13.5% since April 2, when US President Donald Trump first unveiled what he called ‘Liberation Day’ tariffs.   However, broader sentiment across the region turned more positive, with several markets rebounding sharply after Monday’s dramatic sell-offs. Japan’s Nikkei 225 surged over 6% in early trading, rebounding from an 18-month low. South Korea’s Kospi rose marginally, and Australia’s ASX 200 gained 1.9%, driven by strength in mining stocks. Hong Kong’s Hang Seng rose 1.6%, though still far from recovering from Monday’s 13.2% crash—its worst day since the 1997 Asian financial crisis. China’s Shanghai Composite added 0.9%.   In Europe, DAX and FTSE 100 are up more than 1% in opening trade. EU Commission President von der Leyen repeated yesterday that the EU had offered reciprocal zero tariffs on manufactured goods previously and continues to stand by that offer. Others are also trying again to talk to Trump to get some sort of agreement that limits the impact.   Much of the rally appeared to be driven by dip-buying, as well as hopes that the intensifying trade war could still be defused through negotiations.   China Strikes Back: ‘We Will Fight to the End’   Tensions reached a boiling point after Trump threatened to impose an additional 50% tariff on all Chinese imports unless Beijing rolled back its retaliatory measures by April 8. ‘If China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow... the United States will impose additional tariffs on China of 50%,’ Trump declared on social media.   If implemented, the new tariffs would bring total US duties on Chinese goods to a staggering 124%, factoring in the existing 20%, the 34% recently announced, and the proposed 50%.   In response, China’s Ministry of Commerce issued a stern warning, stating: ‘The US threat to escalate tariffs is a mistake on top of a mistake... If the US insists on its own way, China will fight to the end.’ The ministry also called for equal and respectful dialogue, though signs of compromise on either side remain scarce.   Beijing acted quickly to contain a market fallout. State funds intervened to support equities, and the People’s Bank of China set the yuan fixing at its weakest level since September 2023 to boost export competitiveness. Additionally, five-year interest rate swaps in China fell to their lowest levels since 2020, indicating potential for further monetary easing.   Trump Talks Tough on EU Too   Trump’s hardline approach extended beyond China. Speaking at a press conference, he rejected the European Union’s offer to eliminate tariffs on cars and industrial goods, accusing the bloc of ‘being very bad to us.’ He insisted that Europe would need to source its energy from the US, claiming the US could ‘knock off $350 billion in one week.’   The EU, meanwhile, backed away from a proposed 50% retaliatory tariff on American whiskey, opting instead for 25% duties on selected US goods in response to Trump’s steel and aluminium tariffs.     Volatile Wall Street Adds to the Drama   Wall Street experienced wild swings on Monday as investors processed the rapidly evolving trade conflict. The S&P 500 briefly fell 4.7% before rebounding 3.4%, nearly erasing its losses in what could have been its biggest one-day jump in years—if it had held. The Dow Jones Industrial Average sank by as much as 1,700 points early in the day but later climbed nearly 900 points before closing 349 points lower, down 0.9%. The Nasdaq ended up 0.1%.   The brief rally was fueled by a false rumour that Trump was considering a 90-day pause on tariffs—rumours that the White House quickly labelled ‘fake news.’ The market's sharp reaction underscored how desperate investors are for any sign that tensions might ease.   Oil Markets in Focus: Goldman Sachs Revises Forecasts   Crude prices also reflected the uncertainty, with US crude briefly dipping below $60 per barrel for the first time since 2021. As of early Tuesday, Brent crude was trading at $64.72, while WTI hovered around $61.26.   Goldman Sachs, in a note dated April 7, lowered its average price forecasts for Brent and WTI through 2025 and 2026, citing mounting recession risks and the potential for higher-than-expected supply from OPEC+.       Under a base-case scenario where the US avoids a recession and tariffs are reduced significantly before the April 9 implementation date, Goldman sees Brent at $62 per barrel and WTI at $58 by December 2025. These figures fall further to $55 and $51, respectively, by the end of 2026. This outlook also assumes moderate output increases from eight OPEC+ countries, with incremental boosts of 130,000–140,000 barrels per day in June and July.   However, should the US slip into a typical recession and OPEC production aligns with the bank’s baseline assumptions, Brent could retreat to $58 by the end of this year and to $50 by December 2026.   In a more bearish scenario involving a global GDP slowdown and no change to OPEC+ output levels, Brent prices might fall to $54 by year-end and $45 by late 2026. The most extreme projection—based on a simultaneous economic downturn and a full reversal of OPEC+ production cuts—would see Brent plunge to below $40 per barrel by the end of 2026.   Goldman noted that oil prices could outperform forecasts significantly if there was a dramatic shift in tariff policy and a surprise in global demand recovery.   Cautious Optimism, But Warnings Persist   With both Washington and Beijing showing no signs of backing down, markets are likely to remain volatile in the days ahead. Investors now turn their attention to upcoming trade meetings and policy decisions, hoping for clarity in what has become one of the most unpredictable trading environments in recent years.   Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Andria Pichidi HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • CVNA Carvana stock watch, rebound to 166.56 support area at https://stockconsultant.com/?CVNA
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.