# How much time in the week does trading account for?



## Sicilian Trader (9 April 2009)

Hello all, 

I thought i'd start this thread to satisfy some curiosity. I know it has been discussed before so apologies to those if appears repititive.  

I find reading many of the posts on ASF very thought provoking and insightful. At times, it really amazes me the extent of knowldge that people possess. As a result, im curious to see how of those poeple, how many apply it full time , part time, weekends, once a week etc?

Also interested to see what ASF members' daytime jobs are (trading or other). As well as how much time trading takes up when you are not working.

I will kick things off so you have an idea of what i am looking for:

*TYPICAL DAY:*

*9-10* = look at asx charts of small / mid capped stocks
*10-4pm* = scalping aus equities, mainly small caps, concentrating on volume and momentum 
*5-7pm* = some EOD futures trading analysis / studying course material
*7 -8pm* = paper trading futures EOD
*9-11pm* = read a few chapters of trading book of choice

_(yeah i know its sad, but weekends is where i get loosy goosy and let the hair down. My days wont always be so trading oriented, its only because i am slightly green so i am in the process of immersing myself in as much relevant info as I can)_

I know there will invariably be people who be inclined inclined to share this sort of info with the general public, i completely understand. Though I am sure this will be an interesting thread to those who care to comment and read it.

Look forward to hearing from you all, especially from those of you who have a great deal of knowledge in the everything associated with trading, including its psychology, systems, strategy, T/A, MM.

*What does your day look like?*

Cheers
ST


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## MRC & Co (9 April 2009)

9:40 - 9:50am calculate SPI open based on overnight moves, assess levels and form a general opinion of what I will be looking for that day.
9:50 - 4:30pm trade SPI, with many many breaks in-between, taking up probably half that time.

One hour at night surf ASF for a golden piece of information that could come up, or to garner general market sentiment.

Have laptop with live S&P charts next to my TV at night on 5 and 1 minute timeframes and watch how price flows.


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## James Austin (9 April 2009)

*8.45-9.45*
assessing my SPI charts for potential trade at open
assessing FTSE trades from prev. session
reviewing trade plan

*9.50-12.30*
trading SPI index (CFD of)

*4.00-4.55*
assessing my FTSE charts for potential trade at open
assessing SPI trades from prev. session
reviewing trade plan

*5.00-8.30pm* (sometimes a little later)
trading FTSE index (CFD of)

_
** repeated 5 days week
** 4 or 5 hours on weekend doing trade related stuff_


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## tech/a (9 April 2009)

The days I'm trading I set buy orders when I see triggers (Have a few charts of interest tiled on screen in office) and bracket orders then go on with the rest of my day.
So would take no more than 30 mins in a day.
If I'm trading the SPI then I will watch it but thats not often as I'm too busy!

Really prefer set and forget.


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## CanOz (9 April 2009)

I trade EOD. With some FX sim on the side.

So i wake up at 4:30 - 5:30am 

1.) Check the US trades, and the overall S&P 500
2.) Shut down the PC
3.) 6:30 - go to work
4.) 7:00 - 7:30 - catch up on the news, download data into laptop, drink coffee, have muesli.
5.) 7:30 - 6:00 pm - work for employer infrequently checking the ASX trades and the overall market, ASF. Lunchtime, run some US scans.
6.) 6:30 - turn on PC and start scanning for trades and entering orders for the US. Update trailing stops, watchlists etc. Look for more trading patterns/opportunities from The Chartist and Leavitt Brothers. Cook dinner, spend time with GF.
7.) 9:30 - catch the open of the US.
8.) 10:00 - go to bed, read, sleep.

Weekends - practice AFL, more scans, check out the main index charts.

Cheers,


CanOz


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## beamstas (9 April 2009)

(5am - 6am) Wake up
(7am) Set trades for the day 
(8am) Arrive at work
(8:02am) Make coffee
(8:03am - 9:00am) Make sure my trades are right. Browse forums
(9:00am - 9:50am) Do peoples tax returns
(9:51am - 10:15am) Watch the market open as i drink yet another coffee
(10:16am - 5:30pm) Do peoples tax returns -- occasionally flicking between my trading platform to check trades and prices. Have 3-4 more coffees
(7pm) Arrive home. Look for new trades & new entry points
(9pm - 11:30pm) Go to bed


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## CanOz (9 April 2009)

I wish i could still drink that much coffee!

CanOz


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## beamstas (9 April 2009)

CanOz said:


> I wish i could still drink that much coffee!
> 
> CanOz




Mate, thats a normal day!
If the market is hitting my stops and my boss is on my tail the amount of coffee comsumed increases exponentially 

Brad


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## weird (9 April 2009)

Typical day, 5-10 mins, waiting for EOD downloads of data, 5 mins of trade scanning and order placement, 1-5 min of updating blog ... so less than 20 mins a day, waste too much time reading forums, although sometimes there are interesting posts.

I gave up caffeine around about 40 days ago ... use to feel like crap until recently ... now sleep better and more energetic ...  talk about a socially accepted drug, that can cause anxiety or other issues.


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## Sicilian Trader (9 April 2009)

weird said:


> Typical day, 5-10 mins, waiting for EOD downloads of data, 5 mins of trade scanning and order placement, 1-5 min of updating blog ... so less than 20 mins a day, waste too much time reading forums, although sometimes there are interesting posts.
> 
> I gave up caffeine around about 40 days ago ... use to feel like crap until recently ... now sleep better and more energetic ...  talk about a socially accepted drug, that can cause anxiety or other issues.




do you work full time or do you just trade?


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## CanOz (9 April 2009)

weird said:


> Typical day, 5-10 mins, waiting for EOD downloads of data, 5 mins of trade scanning and order placement, 1-5 min of updating blog ... so less than 20 mins a day, waste too much time reading forums, although sometimes there are interesting posts.
> 
> I gave up caffeine around about 40 days ago ... use to feel like crap until recently ... now sleep better and more energetic ...  talk about a socially accepted drug, that can cause anxiety or other issues.




Weird, are you still purely mechanical?

CanOz


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## weird (9 April 2009)

work full time, trade mechanical, on ASX long positions, US short-term swing trading, and futures EOD trading ... I am not a scalper ... hope I didn't interrupt the thread ... although I am still nasty towards caffeine ! Alhtough perhaps a starter cup per day is okay, but unfortunately due to heartburn not for me, still young but getting old quickly.


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## sinner (9 April 2009)

Depends on the market. 

If trading on the ASX it will be a happy 8-5 day in front of the computers at home, too easy, no stress.

On the forex I should be trading from only 6-10PM (Sydney time) but often get sucked into the NYSE session and my room-mates will come downstairs on their way to work at 7AM, only to find me still scalping or sometimes just watching the markets.

This sort of lifestyle is not healthy or recommended really, and accommodated only by my shift working shenanigans. Soon I will have a normal person 9-5, 5 day a week job and probably go back to just the ASX and maybe scalping mini forex for fun (and to keep me sharp) on the London open.


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## MS+Tradesim (10 April 2009)

*8:30-9:45: *Review overseas movements from last night. Update some data.
*9:45-10:00: * Check opening auction possibilities for closing out positions.
*10:00-11:00ish:* Close trades if necessary
*11:00-3:15:* R&D. Update and review records. Keep an eye on markets. Waste time on ASF.: Very occasional scalp when I see a perfect setup. Often have a walk on the beach in this period - especially in Winter.
*3:15-3:45:* Check for entries.
*3:45-4:10:* Open any new positions.
*4:10-4:30:* Update records. During daylight savings, will usually have a beach walk after market closes.

Evening often involves more R&D, keep an eye on overseas markets. Read trading related stuff. Depends on what my wife might want to do. 

I'd do this for free. It's like the best computer game in the world and you can get paid for playing it. Trading makes me happy. It's what I was meant to do.


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## Sicilian Trader (10 April 2009)

MS+Tradesim said:


> *8:30-9:45: *Review overseas movements from last night. Update some data.
> *9:45-10:00: * Check opening auction possibilities for closing out positions.
> *10:00-11:00ish:* Close trades if necessary
> *11:00-3:15:* R&D. Update and review records. Keep an eye on markets. Waste time on ASF.: Very occasional scalp when I see a perfect setup. Often have a walk on the beach in this period - especially in Winter.
> ...




great finish to your post


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## ivant (18 April 2009)

I am a full time trader, but I don't have any particular hours. I trade the SPI and light sweet crude mostly. I usually do stay up between 10pm and 4am watching markets in the US. I don't do any scalping, because I think its dangerous if you don't trade off the floor, and it just didnt work for me. I decided to do more directional trades (ie the 25% rise in the markets recently), and thus they are in for a few weeks. If markets are more choppy (like crude) it takes more of my time. I check my charts every few days see what is going on. usually i trade based on particular levels. So my screen time is determined by particular levels being traded. it used to be 10 to 10 am through to 4 am. 

however, i do come up and check what is going on every half hour-hour, and when im asleep i have my alarm going off by the hour, so im always informed. 

so based on that you can take that as 24 hours or 2 hours a day lol.


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## MRC & Co (19 April 2009)

ivant said:


> I don't do any scalping, because I think its dangerous if you don't trade off the floor




I like your posts ivant, but this part is wrong.

"The floor" is dead.


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## Sean K (19 April 2009)

Don't 'trade' very often. I'm a very good donor to IG.

I spend every minute I am not thinking about anything else about the next investment. So, 12 hrs a day, give or take. 

So, in the week, maybe 60-70 hrs. 

But, as I said, it's not 'trading'. 

It's my life.


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## Trembling Hand (19 April 2009)

Wake at 6:30 - 7 in front of screens 10 min later with first coffee and breaky 
Check news, US, commodities Blah Blah Blah.
7:30 review yesterdays crap trading and make notes of what mistakes I will not do today, note that they are sadly the same as the ones I wrote out 3 days ago.
8:00 work out SPI, HSI & K200 levels and "guesses" for the day ahead and further out.
9:00 2nd or 3rd coffee. more news and ASF, emails and sports news.
9:40 4th or 5th Coffee. Set up ipod playlist. Glance at things to work on todays list.
9:50 watch SPI open
9:51 throw first order into the market.
9:51:12 scratch it.
9:51:22 reverse last trade.
9:51:42 Scratch AGAIN and re-enter first trade 6 points worst off than first entry. roll eyes.
9:52:08 take 4 ticks.
9:53 watch trade I just closed run another 16 ticks. 
9:53:08 call in the dog 
9:54 change ipod playlist cus its ****ting me.
9:55 place a limit order to sell @ the high
9:56 Swear at the Boyz for not filling it.
9:57 watch it run 16 tick away from my pathetic limit order.
9:57 Call the dog again
9:58 get stopped out instantly on next trade.
9:58:10 notice i'm flat on 4 trades less a heap of brokerage - wonder why the dog will not come past the door entrance.
10:00 throw full size order into the flick higher on the up open.
10:00:20 wish i didn't do that.
10:00:22 move stop up a tick
10:00:36 get stopped out. notice the dogs gone back outside.
10:01 re-enter same trade
10:01:20 wish i didn't do that.
10:02 glad i did
10:03 close out half, trail stop rest
10:04 half stopped out for 6 ticks profit instead of the 12 I had on first half exit.
10:04:02 wish i didn't do that.
10:05 first K200 trade
10:06 wish i didn't do that.
and on and on

4:30 move out into the real world and live a little:band:alcohol:artyman::car::brille:


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## MRC & Co (19 April 2009)

LOL, too funny!


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## Cartman (19 April 2009)

Trembling Hand said:


> Wake at 6:30 - 7 in front of screens 10 min later with first coffee and breaky
> Check news, US, commodities Blah Blah Blah.
> 7:30 review yesterdays crap trading and make notes of what mistakes I will not do today, note that they are sadly the same as the ones I wrote out 3 days ago.
> 8:00 work out SPI, HSI & K200 levels and "guesses" for the day ahead and further out.
> ...






  vote that for the funniest post this week ---  lol ---


ps  that dog is costing you money !!!


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## Sean K (19 April 2009)

Trembling Hand said:


> 7:30 review yesterdays crap trading and make notes of what mistakes I will not do today, note that they are sadly the same as the ones I wrote out 3 days ago.



I'm sure you'll never make those mistakes again!


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## Nero64 (20 April 2009)

I used to trade atleast 30  hours a week + study the markets another 20 -30 hours. I would trade mainly indicies and Forex. 

I work in IT/Telco and deal with customers etc. Speaking to them after losing 6K is never fun. Also speaking to them trying to troubleshoot and solve there problem is not easy when you have two open positions in the 200 cash and forex. Plus people and managers coming up to you asking you questions and you're trying to read candlestick patterns from six differnet markets and two - three different brokers (Hello why is my computer running so slow). I could pull about 150Mb of data from IG during the day. 

Now I just trade equities and stare at the commsec watchlist now and then. More simple and I can do the job they actually pay me to do  I still study books and work on strategies plus this forum is awesome. Probably spend 25 hours. 

Now it's more about investing in myself/career instead of the markets, but I won't stop trading as I like it.


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## ivant (20 April 2009)

MRC & Co said:


> I like your posts ivant, but this part is wrong.
> 
> "The floor" is dead.




haha how so? there are still floor traders. cme in particular


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## Trembling Hand (20 April 2009)

ivant said:


> haha how so? there are still floor traders. cme in particular




Nope more contracts are traded in the electronic versions than the same ones with trading pits. They are dead, its just that they haven't taken out the skeletons yet.


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## sleepy (20 April 2009)

Hey TH,

Have you always done your *review* of each days trades the following morning before market open ... or is that something yourve discovered works best for you over time?

And do you review each trade or just a selection?

sleepy


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## Trembling Hand (20 April 2009)

sleepy said:


> Hey TH,
> 
> Have you always done your *review* of each days trades the following morning before market open ... or is that something yourve discovered works best for you over time?
> 
> ...




Always on going, before, during and after.


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## MRC & Co (20 April 2009)

Trembling Hand said:


> Nope more contracts are traded in the electronic versions than the same ones with trading pits. They are dead, its just that they haven't taken out the skeletons yet.




Yep.

What he said.


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## tech/a (20 April 2009)

Trembling Hand said:


> Always on going, before, during and after.





Interesting T/H.

I used to do this but dont any more.
Stopped when I realised that a P/E is what I'm aiming at and that the fact is I'll get it wrong.
The reason often is a variety of things that just mean the analysis didnt work out and the addition or subtraction of a myrid of things wont insulate me from being wrong or more right in the next trade. Wether that be the entry/exit/placement of stop or Trailing stop/positon sizing/pyramiding or how I read a chart.
Each trade is going to be completely different in *how it performs *and it will do so regardless of my input.
I'll rarely get it perfect and if I do it will be more to do with luck than good judgement.


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## ivant (20 April 2009)

MRC & Co said:


> Yep.
> 
> What he said.




Bahaha i liked that. No I totally understand that there are more electronic contracts. but dont you think they still have the edge because they are there and surrounded by traders? in addition there are still brokerage reps there


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## MRC & Co (20 April 2009)

ivant said:


> Bahaha i liked that. No I totally understand that there are more electronic contracts. but dont you think they still have the edge because they are there and surrounded by traders? in addition there are still brokerage reps there




Na, correct me if I'm wrong, but the basis of the edge floor traders held, was due to speed of execution (we now have execution in miliseconds online), for this reason, the BIGGEST traders used to stand on the floor and you could see when certain ones were trapped and trying to cover and try get in before them.  Or see (hear) when they were creating momentum. 

Most of the biggest market players now do so online, and with instant execution, the pits hold no more value as advantages mentioned above no longer stand.

It's one reason I now doubt traditional pivots, such as P, R1, S1 etc, ex floor traders I know don't even use these anymore, perhaps they aren't as relevent as previously, considering the shift from the power these guys actually held before.  Still important of course, but maybe not as precise.......?  Unsure, haven't been in the game long enough myself.

Tech, I agree, I find it VERY HARD to analyse my own trading, trade by trade, as conditions are constantly changing and unfolding while I am in a trade.  I always think of what I could have done better, areas I could improve etc, but to classify each trade for me, is impossible!  I've tried hard many times, but for the life of me, I just can't work it out unfortunately.


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## tech/a (20 April 2009)

MRC & Co said:


> I just can't work it out unfortunately.




Dont think you have to.


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## nunthewiser (20 April 2009)

I review each and every trade .good and bad............... helps me with various points

each to there own


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## ivant (20 April 2009)

MRC & Co said:


> Na, correct me if I'm wrong, but the basis of the edge floor traders held, was due to speed of execution (we now have execution in miliseconds online), for this reason, the BIGGEST traders used to stand on the floor and you could see when certain ones were trapped and trying to cover and try get in before them.  Or see (hear) when they were creating momentum.
> 
> Most of the biggest market players now do so online, and with instant execution, the pits hold no more value as advantages mentioned above no longer stand.
> 
> ...




yea you have a valid point. i guess the only thing is that you know who is coming into the market. the noise generated on the floor can still tell you how likely it is that they are about to break a particular level. i think the biggest limitation of floor trading though is simply that you cant trade more than one market. id do it for the experience though. ps i think weekly pivots are actually rather handy i dont rely on them but i have them on my charts


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## Trembling Hand (20 April 2009)

tech/a said:


> Interesting T/H.
> 
> I used to do this but dont any more.
> Stopped when I realised that a P/E is what I'm aiming at and that the fact is I'll get it wrong.
> ...




Tech so you run your construction business with out any review of previous jobs? costs? future market conditions? new opening? performance of different segments of your biz? Need for more capital? effect use of capital. future problems when they are small rather than major headaches? blah blah blah?


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## MRC & Co (20 April 2009)

ivant said:


> the noise generated on the floor can still tell you how likely it is that they are about to break a particular level.




Not so sure pit noise would make any difference anymore, despite some books (Mastering the Trade) pointing in that direction.  

Perhaps for the odd (very odd) instrument that has some decent volume done through the pits still (crude on the NYMEX perhaps?).

Other than that, you see what's going through the DOM anyways, if a big guy is in there and wants to hit, you see him.


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## ivant (20 April 2009)

MRC & Co said:


> Not so sure pit noise would make any difference anymore, despite some books (Mastering the Trade) pointing in that direction.
> 
> Perhaps for the odd (very odd) instrument that has some decent volume done through the pits still (crude on the NYMEX perhaps?).
> 
> Other than that, you see what's going through the DOM anyways, if a big guy is in there and wants to hit, you see him.




lol yea i guess you are right. i lose


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## white_goodman (21 April 2009)

Trading, maby 4 hours a week...

forum reading maby 25 hours a week

book reading 20 hours a week...

When im not at work or at uni i have my charts up and consult them 5mins before and 10mins after the 4hr bar closes.... so i only trade when im awake to see a 4hr bar close or sometimes i set my alarm if i think something may be setting up for the US session..


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## jono1887 (24 April 2009)

9:00-8:05am - Wake Up, Check how the US market was during the night
9:20-9:50am - Sit on bus on the way to uni reading news from bloomberg on iphone, determine which way market will move during the day
10:00am - Walk into first lecture while watching opening on iphone
10:00-12-00pm - Place some orders.
12.00pm - Realize lecture just finished and just learnt absolutely nothing in the last 2 hours about, except how the market is going...
12:00-4:10pm - Same thing for other lectures, tutorials ect ect...
4:00-5:00pm - Catch bus home and read end of day reports, news ect

*yes, i planned my uni timetable to match market opening times :
though i think my time would be better spent at home on a proper computer setup where i can make trades faster and have multiple monitors.


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## Mr J (24 April 2009)

9:30am-4pm, glance at the screen occasionally. After noon I might go out for an hour here or there. I'd say it's a bit like a security job taking a glance at the monitors every now and then. I'll usually read or watch something if the market isn't at a point of interest, otherwise it'd be like watching grass grow.


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## So_Cynical (25 April 2009)

I have, and need a day job....i spend about 20 hours a week looking at "financial stuff"
and prob spend about 5 hours a week making decisions about that "stuff"

Total time clicking buy and sell buttons...about 12 minutes a week.


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## bonkerrs (11 June 2009)

MS+Tradesim said:


> *8:30-9:45: *I'd do this for free. It's like the best computer game in the world and you can get paid for playing it. Trading makes me happy. It's what I was meant to do.



I'm happy for you. Not a lot of people are geniunely happy with their job/life. Actually, I'm a little jealous cause I hate my day job and I'm not good enough at trading to give it up! :


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## rainylake (30 June 2009)

I'm officially retired but love to trade and devote 5 - 6 hours a day to it.
8 - 10 AM day trade Dow Futures - YM
10 - 2 PM work on Pair Trades


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## kam75 (30 June 2009)

Sicilian Trader said:


> Hello all,
> 
> I thought i'd start this thread to satisfy some curiosity. I know it has been discussed before so apologies to those if appears repititive.
> 
> ...




I generally don't watch the market during the day.  I trade with end of day data and scan the ASX for any opportunities that may fit my trading rules.  If they do, I'll place orders at that night.  Usually takes me an hour or so, 6-7 pm.  Otherwise during the day I do the same for the US markets, where it takes another hour.


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## Mr J (30 June 2009)

10am. Turn on the SPI, see if there is anything interesting. Get distracted posting on ASF, miss some trades.
11am. Turn on the STW, see if there is anything interesting. Get distracted posting on ASF, miss some trades.
11:45am: Turn on the MHI, see if there is anything interesting. Get distracted posting on ASF, miss some trades.
Noon-4pm: Continue to be distracted, miss more trades, and resist falling asleep.
4pm: Ignore market.
5pm: Attempt to trade the FTSE for an hour.


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## skyQuake (30 June 2009)

Mr J said:


> 10am. Turn on the SPI, see if there is anything interesting. Get distracted posting on ASF, miss some trades.
> 11am. Turn on the STW, see if there is anything interesting. Get distracted posting on ASF, miss some trades.
> 11:45am: Turn on the MHI, see if there is anything interesting. Get distracted posting on ASF, miss some trades.
> Noon-4pm: Continue to be distracted, miss more trades, and resist falling asleep.
> ...




Today: 11am Fall asleep looking at SPI.
Wake up 2pm. Realise I've missed nothing...

zzzzzzzzzzzz


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