It’s always interesting to look into the daily routine of another trader and compare it with what you currently do. While I rarely miss the open I couldn’t trade without charts or doing extensive research. I never watch CNBC or any other news channel because it’s all garbage mean to mess with your profitablitiy.
One thing I have in common with this trader is that much of my trading comes after the lunch hour and I’m not tied to my computer because I use a number of alerts that allow me to take breaks throughout the day. The final hour is showtime no question as I try and position myself by entering new positions then.
|My trading is devoid of laborious research and I have no need for charts, oscillators, moving averages, waves, cycles and other supposedly must-have technical tools. All I need to trade for a living is the CNBC ticker tape, my seven-year-old computer and a dial-up modem to send orders to my trading firm.
|The reality of my typical day also runs counter to the popular perception of the trader lifestyle. This may sound like heresy coming from a professional trader, but I usually don’t get up until 10:30 to 11:30 a.m. ET — one to two hours after the opening bell in New York. Because my time frame is end-of-day (not intraday, as
it was earlier in my career), I don’t need to be awake before the open.