How Many Hours a Day do You Trade? - Emini Index Futures Trading | futures io social day trading
futures io futures trading


How Many Hours a Day do You Trade?
Updated: Views / Replies:10,259 / 70
Created: by tderrick Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

How Many Hours a Day do You Trade?

  #1 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

How Many Hours a Day do You Trade?

How many hours do you trade..... ??

I was used to long hours working in the studio, so it's more of the same for me.

..just wondering....


I actually dream of trade entries / ideas....


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Reply With Quote
The following 5 users say Thank You to tderrick for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,129 since Feb 2012
Thanks: 3,780 given, 7,657 received
Forum Reputation: Legendary


Hey @tderrick

Good question!
Personally I am reducing to the max...
For some - even 24h per day are not enough.

To be serious - one has to find "THE" moment within a day to
place *the* trade and to get out.
If one has not found this specific time zone - overtrading will result.

My best time is after opening - and closing some hours later.
Not getting into the late afternoon to lose the gains from the morning.

Good trades!
GFIs1

Reply With Quote
The following 3 users say Thank You to GFIs1 for this post:
 
  #4 (permalink)
Elite Member
Bay Area California
 
Futures Experience: None
Platform: TT T4
Favorite Futures: Futures
 
Posts: 719 since Nov 2011
Thanks: 635 given, 740 received

8 hours (ish)

4-12 everyday. Not including research.

"If I agreed with you, we'd both be wrong."
Reply With Quote
The following user says Thank You to addchild for this post:
 
  #5 (permalink)
Membership Revoked
Detroit Michigan United States of America
 
Futures Experience: Advanced
Platform: NT TOS Scott Trade Live stream
Broker/Data: AMP Scott Trade TOS
Favorite Futures: Whatever is in play
 
Posts: 86 since Oct 2013
Thanks: 19 given, 35 received

Crude opens at 9am Gold opens at 820am. I am done with my day by 1030am at the very latest and normally am done before the market opens at 0930am. I trade real money so all I do is get paid and get out. I actually turn the charts right off and just monitor & mange my open equities positions if need be.

Good luck in your trading


Last edited by DetroitMoney; October 31st, 2013 at 03:23 PM.
Reply With Quote
The following 4 users say Thank You to DetroitMoney for this post:
 
  #6 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


tderrick View Post
How many hours do you trade..... ??

I was used to long hours working in the studio, so it's more of the same for me.

..just wondering....


I actually dream of trade entries / ideas....

AJ, Its the $64,000 question. Personally I believe in the law of diminishing returns, the 80/20 principal and the Decision Fatigue syndrome.

What does all this mean...simple...work less. At lot less. Figure out where your optimum and ideal trade hours are, work those and quit. I mean walk away. No charts. Nothing.

For me, its about 30 minutes in the evening to see what happened after I left for the day then since I'm in AZ, I hit the charts at 5:30AM until about 8AM. Two and a half hours. Thats it. I try to make 50 ticks or so in that time frame and I try to make 100 or so for the week. This allows me some loser days in the week without freaking out over the loss.

For more detail, the law of diminishing returns says that at some point, the reward for additional work is to small to justify the extra work. Its like you have an option to work a 10 hour day and the first hour is worth $100 and each additional hour is worth $10 less. At some point, it gets to zero and you have to decide where in the continuum you decide the effort is not worth the money.

The 80/20 principal says that you get 80% of your results from just 20% of your work.

And the decision fatigue syndrome says the longer you are forced to make decisions, the worse those decisions become. This is why car dealers like to sell you all the crap after you've been there for 5 hours....anything to make the pain go away!

Many many many pit traders have said they would have made more money if they had quit trading after the first 2-3 hours of the day. They made it in the morning and gave it back in the afternoon.

And then finally, I believe very strongly in the idea of The Two Economies.....

Economy 1 is the Time based economy. You get paid for the time you put in, not the results. Traders make the mistake of thinking they live in this economy. Its a linear expression.....Time X $ = payday.

Economy 2 is the results economy. Your pay is not commiserate with the time put in. And thankfully neither is the size of the pay. You get paid solely for results regardless of time expended. Its an exponential expression. The reward is all out of proportion with the time expended. Results in ticks * # of lots = Payday. You then get to expand your payday by increasing your lots when appropriate.

As a trader, we live in the results economy. Therefore, our job is to maximize pay in the least possible amount of time.

For me, its the time I've laid out above. Those are typically CL's best hours and my best mental hours. This results in me being able to walk away with zero guilt about not trading longer. Its the confluence of factors that make it the best for me.

You will need to examine your instrument, your best mental hours, your desired results and then design a trading plan around those three things.

It also helps if you have a life away from trading....no life, then just trade 24/7 if you can avoid losing money most of the time.

Long answer to a short question. Hope it helps.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Reply With Quote
The following 16 users say Thank You to PandaWarrior for this post:
 
  #7 (permalink)
Elite Member
Birmingham UK
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG/eSignal
Favorite Futures: Dax
 
ratfink's Avatar
 
Posts: 3,339 since Dec 2012
Thanks: 11,282 given, 7,092 received

Over the last few weeks I have taken a leaf from the book of @GFIs1, cutting down hours significantly. Putting more emphasis on multiple shorter 1-2 hour sessions rather than one long day, taking plenty of breaks, making them real breaks, walking a lot, even restarting my old TM from uni days, forgot how good it was. Had only two really awful days in the last month, both absolute over-trading nightmares - the lesson is clear and damning.

Travel Well
Reply With Quote
The following 5 users say Thank You to ratfink for this post:
 
  #8 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received

I am in front of my screens 12 hours a day (btw, this is something I will be changing once I get to Ecuador).

I place several trades across several markets, usually in the morning. It doesn't take long because I've already mapped it out the night before.

But I think the real point of the question was how much time do I spend on trading as a whole. Between all the research and analysis, number crunching, chart drawing, Excel spreadsheets, database queries, etc it can easily be 4 or 5 hours of solid work. I multitask because I can't stand to work on one thing for that long so it takes me longer but I spread the work out around things like browsing the web, the forum, and lately stuff like floor plans for the house.

Throw in a few breaks, a couple of meals, and it is 12 hours.

Generally when it comes to actual trades, it's a set it and forget it for me almost always (unless something is really volatile). That means set it in the morning, and then don't touch it throughout the day, most days. But I am always watching, always stalking if you will...

I find myself spending more and more time away from charts and crunching numbers, generating spreadsheets, basically doing research to generate trade ideas. Lots of these are for my automated strategy work which is an ongoing hobby of mine. It helps keep me occupied during the day, and prevents me from overtrading.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 6 users say Thank You to Big Mike for this post:
 
  #9 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received


tderrick View Post
I actually dream of trade entries / ideas....

BTW, I do this all the time (not entries, but trade ideas). My phone is nearby and I use Google Now to email myself "notes" for ideas I think of at night when trying to sleep.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
 
  #10 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received


After many years of most of my time awake in front of screens, I just recently started trading for 2-3 hours, then leaving. There are certain times of the day that are better for certain setups. Faster directional moves are what I have decided I prefer, and I burn out in "sideways" markets.

I watch charts from around 8:30am until I am done with the morning, maybe 9:30, maybe noon. Then sometimes back in for the 1:30-2:30 move, depending on how the morning went. Then 7-9pm forex news moves, if I am in.

I have shifted to the "less is more" camp, and find the open is most often rubber-to-the-road type of motion that can make your day in a few hours or less, if read correctly. And if not, there is another good time slot ahead.

Urgency is not real, and there is always another trade, but, when I can get my head in the game quickly and react to the morning surge, I find that best for life in general.

Reply With Quote
The following 9 users say Thank You to GaryD for this post:

Reply



futures io > > > > How Many Hours a Day do You Trade?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Why Day Trade instead of Swing Trade? Big Mike Traders Hideout 39 September 12th, 2014 11:05 AM
Learning price action - how long, how many hours per day, how many pips Adamus Currency Futures 34 May 15th, 2011 02:49 PM
Anyone trade outside normal hours? tammyd549 Traders Hideout 7 March 5th, 2011 09:13 PM
Emini's Swing trade v day trade kctpac Emini Index Futures Trading 0 March 1st, 2011 10:32 AM
What hours does the TF trade ? Xzap Traders Hideout 3 August 19th, 2009 09:33 PM


All times are GMT -4. The time now is 11:34 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.14 seconds with 19 queries on phoenix via your IP 54.163.210.170