My trading routine involves interacting with the market FAR less than many other traders. This works for me and I firmly believe that it will work for you for the following reasons: Less stress, Less time to mess up your trades by over-involvement, low trade frequency, instills discipline, you control only yourself and don’t try to control the market.
I take a weekly view first: I check out the weekly chart time frames, draw in the key levels, get a feel for the near-term and long-term trends and make a note of any obvious / large price action reversal signals.Next, we are looking at the daily chart time frame. We are mainly looking for key levels of support and resistance, the current and recent market conditions: Trending or sideways? And last but not least, we are looking at the PRICE ACTION; any signals that may have formed near the key levels? Any signals formed after a pull back to a level? Note: Levels can be horizontal levels of support or resistance or EMA – exponential moving averages or even 50% retrace levels.
My overall approach is to focus on the the 1hour chart to follow the trend. I enter on the 15minute chart in the morning, either before market open or after market open depends if I see a good setup. This is what I call a part time trading routine and not only does it have the advantage of less screen-time (so you can do other things) but the very fact that you’re spending less time in front of the charts actually will improve your trading performance over the long-term.
