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**Source:** [https://www.reddit.com/r/Forex/comments/b2yj75/how_many_hours_to_spend_a_day/](https://www.reddit.com/r/Forex/comments/b2yj75/how_many_hours_to_spend_a_day/)
**Type:** #litnote #todevelop  [[Other/Obsidian Starter Vault(Second Brain)/🌻References/Trading]]

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- Trading is all about risk management. 
- A person spending 30 mins a day with good risk management will outperform someone staring at the screen for 10 hours. As a trader you should evaluate how you spend your time and avoid wasting time on unimportant things. Use that time for self-education.
- **When you know what you are looking for, market analysis takes barely a glance.**
- How to plan your trades
	- Write your watchlist
	- Plan when the market is closed
	- Trade only one or two; but study all of your watchlist
- *Learning is your only edge. Stop learning and you lose your edge*. The best traders in the world are equipped with supercomputers, algorithms, insider informations, and more. You can't beat them, but you can beat most of the market participants if you constantly learn.
- Not trading is harder than trading. Stopping yourself to take impulsive trades is hard.
- Don't trade if there is no setup. 
- Like any other profession, trading requires a lot of your time. Stop thinking you can get rich paying minimum efforts.

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https://www.reddit.com/r/Daytrading/comments/jzrn00/how_many_hours_a_day_did_you_put_in_while/

- Allocate time for planning, executing, journaling your trades and educating yourself.
-  No matter how good you are, if you ignore your emotions, You will come out as a loser. You should be the master of your emotion not let them take over you. 
- There's a pattern. After a few winning streaks, greed comes in. It will wipe out all of your previous greens if you are not careful. 
- Everyone goes through the same phases. You make profits. You take bigger risks. You lose everything. Happens with most people.
- Remember, no strategy is full proof for all kinds of market. Different strategies work differently in different markets.



If you do once, its a mistake. If you repeat, its an addiction. Don't let leverage and options take over you. This shit is addicting as candy.

The most important principle of market is capital conservation.

> The money you lose on the market is the tax you pay for learning in the market. 


> The calm, patient and sensible trader wins the market.