[Cory2679]

Originally Posted by Dinerotrader »

You forgot to post your own numbers Cory.

Fair enough.

Week:

A: 10.5 hours (Forex - EUR/USD: 8am-2:30pm, 7pm-11pm, eastern time).
B/C: about 1.5 hours

Weekend:

B/C: Varies a lot...on average, probably about 6 hours per day.

I would work from sun-up to sun-down every single day, except for my girlfriend...I sacrifice some of my trading time for her.

Some may see that as a lack of dedication, but we have been together for 7 years and it's a relationship I wish to maintain...even if it means that success in trading is put off just a little longer.

-Cory

[DugDug]

Originally Posted by brownsfan019 »

Actually what it's telling you DD is that daytrading is not something that can be mastered in a short period of time. It will take you years to master this trade.

Very true - after years of market making doing sometimes 200 trades a day, then trading longer term trend trading, you would think it might be easier, however I sometimes think I have more habits to break - I have to get into the habit of taking profits. Not usually a problem for many people. Its a very different discipline, related but different.

I certainly wish I had the dedication of Dinero - good luck - give my best to your wife - I come from a family of 5 boys so I can sympathise with you.

[Cory2679]

Originally Posted by Cory2679 »

Fair enough...

I added up the hours I posted to 72 hours per week...it's really probably more like 80 if I factor in all the time I spend working on trading (for example, I'm up now, almost an hour past "quitting time").

I was talking to my girlfriend about it...I think it'd be interesting to essentially keep a time card for a week for any time spent working on trading. I figure I'd probably average around 80.

I think that's reasonable...when Goldman Sachs was at my school, one of their recruiters told me that the analysts work, on average, 80 hour weeks (but some weeks as many as 120!). I can safely say that I never work 120 hour weeks, but I do probably average around 80.

Originally Posted by Dinerotrader »

I am too risk adverse to quit my job until I am making more than my current income with real money trading...

Plus, if you ever want to be pulling down the big numbers, you're going to have to compound your returns and let your account grow. For me, even when/if I'm making decent money, it'll probably be a good long while before I'm willing to spend any of it.

[MCM]

A = Actual trading (watching the DOM, entering orders, etc..)
B = Trading methods review, review of the day’s trading, record keeping, etc..
C = Researching new methods, reading books, reading TL for new trading ideas

Full time job as an owner/physician of an ER group. So my trading goes in spurts & fits. When home (and not tending to the 1 year old, or getting the other 2 girls off to school)
A: 4-8 hours
B: 0.5-1.0
C: TL has upped this a bit lately. 1.0-1.5 including 1-2 books usually being read at any given moment.

My glaring inability is category B - which to me means keeping that daily journal with (its better , but still only 60-70%) all of the trades. If I cant get my act together on that process (trade in AZ - so market closes = kids home from school = afternoon activities, then dinner, then inability to walk into office and do the hard work which is critiquing the day) If I cant get any better on keeping the diary up I may start to enact a 2 hour doldrum rule. Automatically turn off the feed on TS/T4 around 9AM local and log the AM trades as well as update the trade diary.

As someone who used to work 110-120 hour work weeks during my residency - I have found that trading is much more difficult mentally but alot easier physically. I do see the correlation that it takes a good 10,000 hours to become adept at this profession. That would leave another 4 years at this rate. I do enjoy the hours - and think the camaraderie that is found here in TL is very similar to that of a residency. Consists of alot of varied people taking their licks - seeking advice from the more experienced - and returning day after day to perfect their craft despite what curveball got thrown their way 24 hours earlier.

Weeks that I am working a fair # of shifts are typically no-trade weeks or perhaps having one glorious day in front of the screens. (Massive disappointment if that happens to be a quiet day!) So the hours can vary, but thats a good average.

I haven't entrusted myself enough to frequently trade the "set & forgets" - but do think that will be the next step in the evolution over the next couple of years. Which leads me to another question for the group - how many say they successfully swing & day trade? Or due to the mindset - are they mutually exclusive? (Perhaps for another thread).

[kuro]

A = Actual trading (watching the DOM, entering orders, etc..)
B = Trading methods review, review of the day’s trading, record keeping, etc..
C = Researching new methods, reading books, reading TL for new trading ideas

A - 2. I only trade the first two hours of the session
B - 1 including pre-trade prep
C - ??? 1 or 2 not really something I do 'every day', more when I have free time.

I reserve most of 'B' to the weekends. Maybe 8 hours over the weekend.

[lbj]

Originally Posted by Dinerotrader »

I was just wondering how much time others are putting in on a daily basis related to their trading career. I was trying to add up what I spend right now and thought it would be nice to see how much time others are also spending. If you would be so willing, please post your time spent on average per day as broken out below.

A = Actual trading (watching the DOM, entering orders, etc..)
B = Trading methods review, review of the day’s trading, record keeping, etc..
C = Researching new methods, reading books, reading TL for new trading ideas

Here are my current numbers:
A - 4 hours
B - 2 hours
C - 2 hours
Total daily average: 8 hours

I do expect that number to come down after a year or so more of trading but for now, I have a lot to learn.

How do you define category A (in more detail)?
Do you include breaks in your 8 hours (lunch, coffee, cigs, etc) as in normal 8-hour day-job?

[Dinerotrader]

Originally Posted by lbj »

How do you define category A (in more detail)?
Do you include breaks in your 8 hours (lunch, coffee, cigs, etc) as in normal 8-hour day-job?

No inclusion of lunch, coffee, cigs, pot, heroine, etc. Category A would be actually monitoring positions or watching for entry/exits. Don't get too hung up on the details.

[brownsfan019]

Originally Posted by lbj »

How do you define category A (in more detail)?
Do you include breaks in your 8 hours (lunch, coffee, cigs, etc) as in normal 8-hour day-job?

If this is the lbj that I know locally, please stay! We love you in Cleveland!