Trading can become time-consuming and tiring. Many traders end up making mistakes because they do not know how to manage their time and sanity while trading. Developing a daily trading routine is important to becoming a successful trader. In this video, I share my step-by-step routine that I have developed over the past 5 years of trading.
I start off by waking up early in the morning. I found that my productivity is best in the morning. The total market cap of the cryptocurrency market is the first statistic that I check. I want to understand what the market is doing as a whole. Next, I go and I check my long-term holdings based on a daily candlestick chart. Looking at these long-term charts gives me a good perspective as to which coins have the best growth potential.
After checking charts, I like to go and read the news for about an hour. Checking the news allows me to get various viewpoints on the market conditions. It also updates me on any important events that are happening. I like to read various news sites to get a broad opinion on the market.
Finally, throughout the entire day, I check the market on an hourly basis. These hourly checks help me pick any short-term trades that I might want to make.