How to trade easier and faster

I’d like to look at how I’m hoping to make trading faster … easier … and more profitable in 2013.

I normally start out the New Year with a list of resolutions that’ll take me until November to work through. But this year, I’m sticking to just one.

I want to cut my screen time.

Just like people get sucked into losing hours on Facebook or Googling obscure stuff like how to get married by vending machine, or the International Banana Museum … I get stuck staring at my charts.

I’m rarely using this time to track down potential trading opportunities (I have my trading strategy, and following those rules doesn’t require hours of screentime). Instead, I’m using it to investigate potential trading strategies and tweaks, or just watching my trades unfold.

The former, provided it’s done scientifically, can be time well spent.

The latter, however, is time wasted – either in patting myself on the back if the trade is going well, or torturing myself if it isn’t!

What I want to do in 2013 is to cut out the wasted screen time, and to make the active screen time more productive.

So, how will I go about achieving this?

First off, that time I’m spending on “research” …

• Do I have a list of exactly what strategies and tweaks I’m investigating, with a scientific method of how I will do this?

• Am I recording all of my findings?

• Am I working regularly through my record of live and test trades to compare results, look for patterns, and plan improvements?

Unless I’m doing these things, then it’s not really “research” – it’s just passing the time.

And for the time when I’m just watching the markets unfold …

• Do I need to be monitoring my trades? If not, I should be using set-and-forget or alert tools on my trading platform instead of watching my screen. There are loads of great tools available, like open and close orders, trailing stops, auto alerts when technical levels are hit …

• Should I be monitoring the market at this time of day? If I know that my optimum trading time is in the morning, and I’m staring at my screens at 2 in the afternoon – I’m wasting time.

• Am I scrolling through old charts looking for trading opportunities that I’ve missed? Unless I’m using this to record a potential track record – I’m wasting my time (again).

• Am I glued to the economic and political news? As a technical trader, this shouldn’t affect my decisions. If I’m doing it purely out of interest – that’s fine. But I shouldn’t kid myself that this is “trading”.

• I will make myself a checklist of what I need to do when I’m trading – when I’ve crossed off those things, I know that if I’m still staring at my screens, I should probably log out of my trading account!

While it may take me a little time to set these rules in place – I’m confident that within a few weeks, as long as I stick to the program, I’ll have already saved myself hours of unnecessary screen time.

Please don’t forget to watch out for my full review on this binary options strategy next week.

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