If trading is a really important part of your life, you will soon realize that you will enter in the most boring routine.
There are three things in particular that I am always trying to do at the beginning of the day, and these are the following:
- Check the price of the action that occurred overnight and monitor all of my open transactions.
The good part about a 4-hour trading session using one of my favorite trading methods is that we do not have to stare at the screen the entire day.
You can simply set the stop loss and the target exit point and you can go and enjoy life.
Exactly, for this reason, check the price of the action overnight it’s crucial, especially when you turn on the computer in the morning.
- Check for long-term trends
Before opening a transaction, it’s always a good idea to take a look at the popular currency pairs. This should give you an idea of how the transaction will unfold on shorter time slots.
For example, if you are on the 4-hour trading chart, then it’s always a good idea to look at the daily price, identify the trend and possibly look at some key levels of support and resistance.
- Check the news every single day
It is always vital to be aware of any economic data because that news might decide the faith of your transactions.