Depending on the type of financial instruments that you’re trading in, and your unique trading style, there will be a perfect timeframe for you to day trade. If you’re obsessed with the time flexibility that day trading provides, you might actually find following a certain timeframe very daunting.
This is how you can choose a perfect timeframe for yourself to day trade.
Time Table For Beginners
Mostly, the beginner day traders often struggle with their time table. They try every single hour of the day to find what timeframe best suits their trading style. Beginners usually start from one option, and try all of them one by one to see which one would work the best for them. Once they find nothing useful, they start over again and try them all once more.
The main reason why all the beginner day traders try different methods to find the perfect time is that there is a certain time frame for every trade and every market to be profitable with the strategy that you’re using. But if you don’t use a professional method to make the time table, you’ll never find the right time for your trades.
How Professionals Do This
Professional traders build a trading personality unique to them while trading regularly. So, they use that specific personality to find the right time for trades. Their trading decisions aren’t limited by the tyoe of trades they’re dealing in, or by any specific time limit. Some even invest a auto trading bot which earns for them while they’re sleeping, for more on this, you can read Rob Booker reviews.
Traders who have to make only a few trades during a single day end up choosing longer time frames, while the traders who execute several trades in a single day choose shorter time frames.