In this educational article, I will teach you how to properly plan your trading week.
Sunday.
While the markets are closed, it is the best moment to prepare the charts for next week.
First of all, charts should be cleaned after the previous trading week: multiple setups and patterns become invalid or simply lose their significance and their stay on the charts will only distract.
Secondly, key levels: support and resistance, supply and demand zones and trend lines should be updated. Similarly to patterns, some key levels become invalid after a previous week, for that reason, structures should be reviewed.
Monday.
Analyze the market opening, go through your watch list and check the reaction of the markets.
Flag / mark the trading instruments that you should pay a close attention to. Set alerts and look for trading setups.
Tuesday. Wednesday. Thursday.
If you opened a trading position, keep managing that.
Pay attention to your active trades, go through your watch list and monitor new trading setups.
Friday.
Assess the entire trading week. Check the end result, journal your winning and losing trades. Work on mistakes.
Decide whether to keep holding the active position over the weekend or look for a way to exit the market before it closes.
Saturday.
Stay away from the charts. Meditate, relax and chill while the markets are closed.
Trading for more than 9-years, I found that such a plan is the optimal for successful full-time / part-time trading. Try to follow this schedule and let me know if it is convenient for you.
