The trader’s lifestyle is full of excitement and important details unlike the employee’s lifestyle or anyone else in this article, we will know more about the most important things a trader does daily from his awakening until going to sleep
6 Important Things in Traders Lifestyle
1- Daily Routine of Traders lifestyle
Most traders wake up in the morning before 10:00 AM (Moscow time GMT+3) because at this time violent movements begin. After all, the London Stock Exchange opens at this time and it is normal for you to wake up at 8:30, for example, there is an hour and a half until you wake up and eat your breakfast, drink coffee, and do some Morning exercises, these are important factors to make you active and able to focus in work.
Then
You start looking at the financial markets (currencies, stocks, commodities … etc.) according to your strategy, but of course, before you open any trade, you look at economic news on news sites such as (CNBC.SkyNews) you can follow Them through their telegram channels that’s how you will get the Latest News & Economic Calendar and you will find the calendar in the Forexfactory Here.
After that, you look at the financial markets and analyze and open the appropriate trade based on the analysis (it is possible not to open any trade if there are no opportunities) or you may Follow up on the trade that you opened in the previous day if you are a Swing trader / intraday trader, Or closing a trade that is close to achieving the expected take profit to avoid unnecessary loss in the event there is news about to happen or there is a more suitable trade than the current trade, for example.
Prepare your trading tools for a better Lifestyle
Do you have all the tools you need before you start trading? Trading tools such as indicators, Expert Advisors, or other analytics are very important in your lifestyle and they can help you build a good picture of what is happening in the market…etc.
<<< Reasons Why Traders Fail when Trading Forex >>>
There are other tools such as writing down losing and winning trades and reviewing the trading strategy that you have previously written on paper or on your computer.
You may hear a piece of soothing music while trading
2- Sources of income in Traders’ lifestyle
Sources of income
Traders usually do not rely on trading as a primary source of income because this market is an investment of money and the trade can be left for days and weeks without the need to open more trades.
But this does not negate the fact that you can rely on Forex entirely as a source of income, but not at the beginning. There are many professional traders who consider Forex a primary source of income, but at the beginning of their journey in Forex, they had other jobs To get a monthly salary that helps them in their lives, Forex is Not a monthly income job. You can earn $100 this month and lose $200 the next month. this happened, right? If we talk about freelance, any freelance, you will find that its profit is not fixed but variable, and losses may also occur.
It is highly recommended that you have more than one source of income so that you do not depend on one job only for the Needs of your life and the life of your family. Forex Trading Offers the Flexibility of Freelance Work and this kind of field takes some time to come to fruition at the beginning, you need to learn for a while and when you start trading there must be Capital that you start with, so with the other work you will meet your needs and your family needs and you will save money to start trading on time
How to organize between Forex and my job
Be organized
It depends on your job but opening trades is very easy you can open trades from anywhere as long as you have your phone and internet access but when is the right time to analyze the market? You might be busy at the time of the news release or when the price reaches the right area you have been waiting for a while right?
There are several tools that may help you with this at the beginning if you are trading with the news, knowing the news times is very easy through news sites and the economic calendar, but if you are not interested in trading with the news, in this case, you should also know the news release times in order to avoid them in case you have open deals, but if you do not have open deals, you will not care about the news at all.
When is the right time to analyze the market?
Market analysis does not have a specific time. You can analyze the market at any time you want. You can do it right after you finish work. If you want to go to sleep, make the analysis the last thing you do so that you can focus on the analysis and not be distracted by anything.
The important thing is to follow the trades and enter the trade if you are at your workplace. There are tools that help you know whether the price is close to reaching the area you are waiting for or not because, of course, you will be busy with your work and will not be able to open the chart to follow what is happening in the market or you may forget completely.
One of the most important of these tools is the TradingView alert. You can set an alert in the area from which you expect the price to bounce back, or set it a little before it so that you are prepared in case the price reaches it. There is also an alert feature via SMS and email, and the phone or computer will make a sound if the price reaches the specified area.
3- The right place to trade
coffee shop
During your journey to learn and trade, you will feel a lot of different feelings, such as frustration and intolerance towards the chart, and You will lose your mind when you lose in Trading (all these feelings are very normal) and this affects your relationship with your family, your wife or your children.
So you should stay alone While trading to focus In order not to be angry at people around you, this does not mean that you leave your family and go to a far place, of course not! But all you have to do is sit in a room alone while learning and trading and upon completion, you can spend the rest of the day with them if you want, or if you do not have a room you can go to a quiet cafe or Workplace so that you can work quietly and comfortably
Is your room clean?
The cleanliness of the place you live in is very important in the Traders Lifestyle and helps you relax and innovate, so make the place you work in clean and tidy, even the files on your computer should be tidy so that it is easy for you to get what you want as quickly as possible, You are now a businessman in a very large market. You should understand this very well and treat it this way.
4 – Health and Well-being in Traders’ Lifestyle
The physical and mental health of the trader is very important because we analyze the market using our minds, right? If there are important exercises that can help us analyze the market in a better way, it is better to follow these exercises. For example, you can do daily exercises such as running or going to the gym, Maintaining your health is very important for both traders and non-traders. It is essential in the life of anyone who wants to improve their lifestyle.
One of the most important factors that may help you maintain good health is Getting enough sleep your body needs. The Humen needs at least 7 to 9 hours of continuous sleep to give your body and mind the sufficient rest it needs to start a new day.
If you do not get enough hours of sleep, you will notice signs of fatigue and exhaustion and you will not be able to analyze the market properly and you will not focus on this case because you did not give your body the rest it needs.
Healthy food for Traders lifestyle
Healthy food helps activate brain cells, enhance brain functions, provide energy throughout the day, and help you manage stress and make appropriate trading decisions based on your trading plan.
5 – Live freely
Never neglect your life and do not let Trading Take all of your days and forget your friends and family and the exercises that you were doing, trading is very simple and takes a little time in the beginning so Do not make it the reason that you live for and also move away as much as possible from the people who frustrate you And they cannot appreciate what you are doing because you are the only one who sees what you want to be and no one else.
Always remember
Working hard brings big results, you must first define the goals that you want to achieve from Forex to be the motivation that makes you always active, make your dreams as large as possible so that you have the passion and initiative to achieve this dream and must be ready to work, don’t wait for someone to tell you, take this book so that you can learn from it. Be always an initiative and passion for learning.
6- Weekend of Traders’ lifestyle
weekend
The Forex market works 5 days a week (Saturday and Sunday are holidays) and now after a week of work and training you deserve some rest, so you should spend quality time with your family or friends to restore your activity to start a new week for trading
Holidays are very important as trading days, so do not try to open the chart at these times to look for trading opportunities. You can do that before the market opens or on Sunday if necessary.
There are many traders who think that if they work hard in Forex and do not use the holidays to entertain themselves, this will reap good results. I disagree with this because the holidays are a good opportunity to relax your mind and body and entertain yourself for some time, this will help you start the new week with great activity and vitality, and you will be able to follow and analyze the market in a better way.
Holidays are a small reward for what you achieved in the rest of the week, so it makes sense to take advantage of this.
Warning: You will find a lot of traders deceiving you with their appearance and their wonderful lifestyle, which is almost the dream lifestyle of any trader working in Forex but do not be fooled by their lifestyle or appearances, They may give you a useless educational course or give you a fake account statement … etc. This lifestyle is completely fake.
Conclusion of Traders’ Lifestyle
The lifestyle of traders is important., and to become a professional in trading, you have to learn a lot of things about traders’ lifestyles, but there are things that many people overlook, which are arranging the priorities of your day, such as the things you do from the time you wake up until you go to sleep (the whole day)
And The cleanliness of the place where you sit makes you a creative person, trading is not a difficult thing, But applying this lifestyle is the hard part and the way to deal with it is the most important thing that you must focus on to rise in the world of trading and Become a professional trader with an amazing lifestyle that everyone desires.
