Hi there! Now, many of you that know me will know that I started my trading
career almost thirty years ago now. In the trading pits in the city of London.
There we were standing in the pits for eight to ten hours a day, shouting and
screaming at people, other traders. All with the same objective basically to
siphon money out of your fellow traders account into your own. There you are you
may notice meat I'm the shifty looking character there no no I'm the one with
the side parting now many of my friends and family that know me then knew what I
used to do for a living sometimes asked me you know from time to time do I miss
the trading floor do I miss the hustle and bustle is my life any different now
that I'm an independent trader working from my home office well firstly one
aspect is certainly the same I'm still here trying to outwit my fellow traders
tried to shift money from their trading account into my own trading account but
in reality the two different lifestyles are canyons apart the pits have grown
for one thing in the olden days maybe I had 200 traders all standing around each
other in their brightly colored jackets shouting and screaming the pit has grown
massively over the years now the pit is basically a million traders scattered
all over the globe in more countries than I can possibly
name so when my brother asked me a while back he said to me how's your life
change from the floor to the screens it inspired me to put this short video
together basically outlining the day in the life of a professional day trader
so before I get into the day in the life of a professional day trader let me
remind you to subscribe to the channel if you don't already do so don't forget
to hit that little Bell notification that way you're gonna get notified the
moment my next video has been released as always follow us on Instagram and
don't forget to follow us on facebook as well and if you follow us on Facebook
you can tune in live every Monday afternoon for a live streaming event
about I highlight trading opportunities for the week ahead it's proving very
very popular so I hope to see you in there next weekend so here's how my day
starts now I usually get to my office at about 6:30
in the morning I know it's quite early you can see it's dark outside
but it's a good time of the day for me to get into the office everything is
very quiet the house is quiet so I can sit down and concentrate follow-up
screens and the first thing I do is take a look at the markets overnight to see
what's been happening out in Asia now often I will have trades running
overnight so I will have a look to see you know how these are fairing up if I
need to manage them I'll do that now by locking in profits basically moving my
trading stock should I need to now for me I don't check the markets when I'm
away from the screens so the only time I would be aware of what's going on in the
market price action and so forth is when I'm at my desk I'm not a big fan of
using my mobile phone to check prices when I'm on the move I find it just too
distracting too time-consuming you know watching every pip move every dollar
gained or Dell or lost in the account can be quite the distraction as I say
but I do sleep easy as with my own positions we'll always have an
Associated stock lost with the wall stop-loss as you know is basically an
order that will exit a losing trade at a predetermined level in case it goes
against me so basically I'll never end up blowing up a trading account or doing
any serious damage to the account should I have some losing traits so I will
check the open trades that I've had overnight have I been stopped out -
indeed have I taken any profits and then I will
update my trading journal now it's absolute must if you are a serious about
trading that you journal your trades so if you keep a track of how your
strategies are performing in far more detail than just looking at the account
growing in the equity curve you know losing trades cost they cost money and I
don't want to waste this money we will have losing trades that's all part of
the business but I don't want to waste this money so I learned from my losing
trades and if you keep a journal and you're true to the journal you were able
to see in time the strengths and weaknesses of your strategy and when you
come to you do your trading review which you could do I do mine every week but
some people do maybe every month or so but when you come to do your trading in
the view you can look back and see how the strategy was performing in certain
characteristics of the market certain days of the week certain times of the
day everything about that particular trade so a losing trade should not be a
waste of money get some value back from the losing
trade you can write your own spreadsheet on Excel or indeed you could buy one off
the shelf but I think it's very important that you general trades and
it's one of the first things I do in the mornings are journal my trades that may
have happened overnight okay I also now be looking at my open trade to see if
they need managing where I need to move a stop also to lock in profits basically
to move a trailing stop or a break-even stop or whatever now once I've managed
my trades or updated my journal it's time for me to update myself on the
fundamental news happen overnight I like to keep abreast
of the world events I want to know what's going on in the different
economies around the world now I'm not a fundamental trader per se so I don't
trade the news as such but I think for me at least it's important to know what
is driving the markets basically you know what the other analysts are saying
about the markets as well I'm not generally swayed by what they say or
what they write but it is important for me at least to know what's going on it's
also important to keep aware of the upcoming news events for the day ahead
the last thing you want is to enter a trade just before a market sensitive
news release which could easily see your trade getting stopped out on an instant
so being aware of the day's events is very important I'll generally drop them
down on my pad here on the desk but I'll also keep the bigger picture on
my whiteboard some of the really big events to look at for the week ahead so
I'm always keeping an eye on the news the big events for the week and the
events that are likely to affect the market during the day as well so keeping
your track of these events is very important so one time aware now of the
news events I look at the market so I start scanning the markets looking for
some trading opportunities and I start off by always always looking at this
this is the momentum meter now the momentum meter is free to all our
members here at photo signals it basically tells me what an individual
currency is doing in relation to the other currency so I can see what a
strong currency is against a weak currency it forms a major part of my day
trading strategies and these are the exact same strategies that I teach in
virtual signals site and that we talk about throughout the trading day of
course so the momentum meter is the crucial part I look at that and then I
start doing some scans on the individual currency pairs as we go now also like to
update my key support and resistance lines on the daily chart some of you may
have seen my earlier video on how to draw support and resistance do go and
check it out in your own time if you haven't already done so but drawing the
levels of support and resistance on the daily is a crucial part of my daily
analysis it keeps me out of trades it improves my win-loss ratio something you
just would not believe I also look for my potential trade setups and to do this
I also set myself alerts now I use the mt4 training platform I can set my
alerts on this platform as well so it'll ping me ping my iPhone if indeed a
potential trade set up has presented itself now as some of you know I also
run a live trading room here at Forex signals and I stream at least twice a
day so I need to get ready for my morning stream basically you get myself
all set up the cameras going and then we go live normally at about 11 o'clock
London time it's all scheduled out and where we look for trading opportunities
as well so the four extreme important part of my morning routine as well it
also keeps me focused when I'm talking about markets to other people sometimes
often is beneficial to me as much as it is to the trading room as well also a
live stream events is a toggle part of my morning now after my first stream
I'll generally take a break form the screens go and have a coffee or bite to
eat I think it's essential as a trader to take a regular breaks from the screen
go off walk the dog go for a run run some errands or whatever it's not
healthy for you your mind or your body to be sitting in front of the screen for
eight hours they so get out and get some exercise
now one of the great things about being an independent trader is that your time
is your time you're not working for someone else and it's important to
maintain a healthy lifestyle time away from the screams get out get some fresh
air it's good for the mind it's good for the body it's also good for your trading
is about to take a break from those screens what better way to spend the
afternoon or a couple of hours walking the dog getting back to the screens or
nice and refreshed for the afternoon session I can actually zoom in here you
can actually see the shard if you could see it on the camera here that's
basically the site where I basically started working almost 30 years ago in
the city of London a new rod much rather be now out here in the countryside and
they were he'd rather be certainly so back to the screens for the afternoon
session the u.s. session starts at 8:00 a.m. New York time which is basically
1:00 p.m. London time it's great time of the day it's the most active the most
amount of traders are taking part at that time you've got the overlap between
the UK Europe and of course the US so it's a great time of the day to trade so
I'm normally at my desk for the afternoon session and looking for some
big moves should they happen the US data is normally released at 1:30 London time
that's 8:30 New York time so always making sure that we are on top of the
news events that come out in the US we've got a vibrant chat room at four
signal so I'm always getting involved in that the whole bunch of traders in
they're all disgusting looking for training opportunities so I'm pretty
much active in there all day long as well as I said helping others looking
for opportunities often helps myself as well trading can be a lonely business
but of course if you were part of the community such as we have here at
signals comm then it makes the day all that much more pleasurable and possible
I think just at the end of the day I do a London forex market wrap another live
stream discussing the day's events and also the USA in their middle of their
date so there's an option in there as well that's normally at
about 5:00 p.m. London time after that I would normally finish for the day and
once I'm off the screens I am off the screens as I said I don't rely on my
mobile phone to keep an eye on prices I'll leave that for when I'm sitting at
my desk okay so I hope you found that video useful slightly different than the
usual content if you did give me a thumbs up if you didn't give me a thumbs
down don't forget to leave a comment and of course if you subscribe to the
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moment my next video has been released follow us on Instagram and of course
Facebook I'll see you Monday afternoon for the live streaming event 2 p.m.
London time to the next video happy trading and good luck