Let's talk about screen time👋
Hey there ,
Welcome to #6 of The Daily Edge! 🙏
💻 In today’s Edge, I want to share with you what I believe is the optimal amount of screen time for your trading. At the beginning of my trading journey, I used to spent hours on end browsing through the charts looking for setups and monitoring positions. I was super active and spent a lot of time on the charts while my actual plan did not require that much action at all. I soon learned that less is more because my results did not benefit from the excess time spent on the charts. Remember, I am not talking about the time you spend on testing strategies and learning new concepts, I am talking about time actually spent analyzing and trading. 🤓
🤖 The optimal screen time can be determined by diving deeper into your trading plan. The timeframes you trade play the biggest role. If you are trading the higher time frames such as the Weekly, Daily, and 4h charts you know that your time at the screen can be limited to once every 4 hours and an hour or so at the close of the day to analyze for the next day. If on the other hand, you are a scalper trading the 5-minute chart you should limit your time to one or two of the most active sessions such as the New York session or the London session.
😎 What will truly help you to limit your screen time is planning your trades ahead during your analysis time. Make a watchlist of pairs that are close to providing opportunities for the day/week ahead and set alerts in the areas of interest. There is no reason to be stuck at your screen waiting for the price to move to your areas of interest. Instead, place alerts and use your time for useful activities.
The key takeaways to optimize your screen time are;
✅ Determine how much time your strategy requires based on the timeframes you trade
✅ Plan ahead by drawing on areas of interest
✅ Use alerts to notify you when the price reaches an area of interest and only then hop on the charts
Use these tips in your regime and let me know how you are benefitting from it.
Go get it.