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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Here’s My Daily Trading Routine That I’ve Used For 10+ Years

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By in Forex Trading Strategies By Nial Fuller Last updated on October 7th, 2019 | 56 Comments

I recently watched a documentary about Bill Gates on Netflix and the thing that stuck with me the most from it was that he didn’t become one of the wealthiest people in the world through luck or inheriting huge sums of money. He literally reads like 8 books while traveling, he can read 150 pages an hour, and he ENJOYS learning. One of his close friends said “Bill always knows more about any subject than the person he’s talking to about it”. What does this have to do with trading? Everything…

The key to trading success is developing yourself into a profitable trader by learning to trade properly and being consistently disciplined to follow an effective trading routine until it becomes a habit.

Here’s what you need to know about trading routines: Trading routines are the real key to success in the market. There’s no magic indicator or algorithmic trading robot that is going to easily make you a profitable trader. Just like Bill Gate’s routine each and everyday over the course of years, led him to insane financial success, so can your trading routine. However, if you have no routine or the wrong routine, you will never become a successful trader. Could Bill Gates have laid around watching T.V. eating Cheetos all day instead of reading everything he could get his hands on about business and programming? Sure. And you would never know who Bill Gates was if he had done that.

There’s a “fire” inside of Bill Gates; a desire to learn, to grow, to be more, that seemed to be part innate and part developed through his childhood. I cannot provide this for you, you must develop it if you don’t have it. But, I CAN give you the framework, the “keys” to the “kingdom” so to speak, but you have to be in the proper trading mindset to be able to ‘turn’ the key. So, if you’re ready, read on and learn about the daily trading routine that has worked for me for the last 10+ years in the market….

The Main Ingredients of My Daily Trading Routine

  • My trading routine involves interacting with the market FAR less than many other traders. This works for me and I firmly believe that it will work for you for the following reasons: Less stress, Less time to mess up your trades by over-involvement, low trade frequency, instills discipline, you control only yourself and don’t try to control the market.
  • My overall approach is to focus on end-of-day data, which means I focus on the daily chart time frames and I will typically wait until the market closes each day to really sit down and take a close look at the markets in my watch list. This is what I call a part time trading routine and not only does it have the advantage of less screen-time (so you can do other things) but the very fact that you’re spending less time in front of the charts actually will improve your trading performance over the long-term.
  • I take a weekly view first: I check out the weekly chart time frames, draw in the key levels, get a feel for the near-term and long-term trends and make a note of any obvious / large price action reversal signals.
  • Next, we are looking at the daily chart time frame. We are mainly looking for key levels of support and resistance, the current and recent market conditions: Trending or sideways? And last but not least, we are looking at the PRICE ACTION; any signals that may have formed near the key levels? Any signals formed after a pull back to a level? Note: Levels can be horizontal levels of support or resistance or EMA – exponential moving averages or even 50% retrace levels.
  • Now, since this is just a blog post, I have to “gloss” over some of the more detailed topics like money management, trading psychology, stop loss placement, etc, but you can follow the links I just provided to learn a bit more and of course these topics are discussed much more thoroughly in my professional trading course.
  • What is the GLUE of all of this? Of my entire trading process? Simple. It’s routine – discipline – habit or RDH. Let me explain this to you (it’s critical) – Remember my mention of Bill Gates earlier? Bill Gates probably has better habits than you (or me to be honest), Warren Buffet too. The elite of the world, those men and women who have amassed large fortunes or otherwise succeed at their craft, got to that point through Routines that took Discipline which turned into Habits. The dedication is unreal, but honestly, that is what it takes. Bill Gates doesn’t read so many books because he hates it, he does it because he genuinely loves it! So, you really must love trading and you must love the routine and discipline if you hope to turn them into proper trading habits. Proper trading habits are what bring you wealth in the markets, there is no easy way or short-cut other than TRULY loving the process. And remember, I can show you my process, the one that has worked for me, but it’s up to you to LOVE it, to be passionate enough about the process to make it work!

My Daily Trading Process: Chart Analysis and Trade Execution

The first major chart aspect of my trading routine is taking a “bird’s eye” view of the markets on my watch list. That usually means starting with the weekly chart time frame and giving it a good once-over. I am mainly looking for key levels in the market, major turning points, trends and areas of consolidation to make note of. I always mark the key levels on the weekly chart first, here’s an example:

Next, I will drop down to a daily chart time frame and begin analyzing it in a very similar way. The key levels from the weekly may need to be adjusted a bit on the daily, depending on the price action or you may need to draw in additional levels:

Now, I am analyzing the near-term market conditions to decide which direction is the best to trade in and what nearby levels / areas are the most important to watch. I will often use a moving average here, like the 21 EMA or similar, to help see the near-term trend and momentum. You will also want to learn to identify periods of Higher Highs / Higher Lows and Lower Highs / Lower Lows, which you can learn more about it in my article on how to identify trending markets.

Last, but certainly not least, I am looking for price action signals / potential trades. I am especially looking for “clean and obvious” signals that line-up with levels on the chart, in other words, that have confluence.

  • What you saw above in the charts is a brief overview of my weekly / daily chart analysis routine that I do for all the markets in my watchlist. If you don’t have a watch list, you should read my article on creating market watch lists for more.
  • Markets go through phases. Study the markets you like the most in your watch lists and you will get to know them, get intimate with them. If you see some or most of them are in bad trading phases, or sideways consolidation that’s choppy, just glance at them and walk away or don’t even check them for a few days. The best trading phases or conditions are trending or when markets are trading in very defined and larger trading ranges.
  • I cannot pound this into your head enough: MOST TRADERS LOSE BECAUSE THEY LOOK AT THE CHARTS TOO DAMN MUCH! The market is not meant to be a casino so don’t treat it as one. Don’t get addicted to it! View and treat the market as a way for you to show how planned, skilled and disciplined you can be and you will get rewarded  handsomely for doing so.

How I Find a Trade, Set it Up and Execute It

Now, once you have done the above steps, let’s say you spot a potential trade. Here is how I will set it up with the entry, stop loss and profit target placement…

  • Notice the “price action signal” in the chart below, this was technically a bearish tailed bar, followed by a pin bar signal that was also an inside bar within that bearish tailed bar. Price consolidated for a few days before ultimately breaking lower with the existing downtrend.
  • Price had pulled back to resistance at the 21 EMA (blue line) and the 1.1250 horizontal level, so we had multiple points of confluence: level and trend.
  • Traders could have netted 2R profit from this trade had they held on to it for 3-4 weeks after entry. This is why I always preach set and forget trading!

  • This example shows a clear pin bar sell signal that formed at resistance (both horizontal and ema) and within a downtrend. This was a very clear and obvious trade for a savvy price action trader. Stop loss was just above the pin bar high and a 2-3R profit was easily achieved if you held the trade for a couple of weeks.

  • An interesting “twist” on the last trade above is seen below. Notice the entry was made as a 50% retrace entry of the pin bar’s tail.
  • This entry allows for either a tighter stop loss and hence increased potential risk / reward OR with a normal width stop you could give the trade more breathing room. In this case, we are showing a tighter stop with increased risk reward, 6R was possible here!

Conclusion

In today’s lesson, I have shown you how I personally analyze the charts each week and day and gave you a ‘peek’ into my own personal trading habits. Hopefully, after reading today’s lesson (and re-reading it) you now have a better understanding of WHY you need a daily trading routine and HOW to develop one.

The above daily trading routine is the core foundation that all of my trades are built on, and it’s my opinion that all aspiring traders need such a foundation to build their trading career on if they want to have a serious chance at making consistent money in the markets.

Many of you know I publish a daily market commentary each day shortly after the daily Forex market close. However, what you may not know is that doing these daily commentaries (similar to above charts) is also part of my daily chart analysis and trading routine. I actually started writing down my thoughts about the markets each day well before I started this website, and it’s something I’ve done continuously every trading day for about the last decade. It’s literally a habitual part of my daily life…if I miss a day of commentary for some odd reason, like travel or a holiday, I literally feel ‘strange’, and like something is ‘missing’. You need to get to that point too.

For on-going help and assistance with learning to trade, analyzing the markets, spotting trades and building your own personal trading plan, my daily commentary and members’ analysis is a great example of how I perform my rolling (ongoing) analysis of the market in real-time conditions. This is something that you can learn from me and mimic on your charts. I encourage you to “watch over my shoulder” each day as I analyze the charts and plan my trades in the members daily chart analysis area and my trade ideas newsletter.

Please Leave A Comment Below With Your Thoughts On This Lesson…

If You Have Any Questions, Please Contact Me Here.

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About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
  1. PRAKAS RAO October 30, 2019 at 2:12 pm

    Thanks Nial.

    Yes keep it very simple, just look out for high quality setup on higher time frame and stick to routine. Now i am begin to see a consistent trades. The biggest enemy is our own mind when we begin to wander away from our routine.

    The success will come when we have enough patient for setup to present it self in daily chart instead of engaging our self for more trades because of itchy hands. LOL

    Cheers

    Reply
  2. Kirigo October 25, 2019 at 5:27 pm

    Greatest article ever, such an eye opener.

    Reply
  3. keith October 25, 2019 at 4:11 am

    Hi Nial, very interesting article. Please allow me to ask you a question that relates to my personal trading situation. I am trading forex on MT4 and my watch list consists of 28 currency pairs. If I draw support and resistance lines on the weekly and daily time frames for every currency pair, I will need at least 28 separate charts to be open on my computer screen in order to facilitate this trading routine. That makes the whole operation a mess because 28 charts on a single screen, even with only one maximized and the other 27 minimized, is too much. Can you suggest a different way to follow up all these 28 currency pairs?

    Reply
    • Janis November 4, 2019 at 7:06 pm

      Hello, i think u need to start journaling to keep up with all pairs and not look at them all in one time. Just write down some pairs who are near Key levels and check them only. And on new day just look for key levels again. It will be less mess and more productivicy!

      Janis S

      Reply
  4. abdullahi auwal October 18, 2019 at 5:54 am

    thank alot with this experiance

    Reply
  5. Maxwell October 15, 2019 at 11:28 pm

    Thanks Nial, well written article. If one has a routine, discipline and habit {RDH}, money will follow. Personally I think that is what matters most in the market, sticking to a routine, otherwise noone knows what is going to happen in the market but with proper RDH, one is almost certain to reap the rewards. Thanks ounce again. Best regards.

    Reply
  6. Nurlan Ussenov (KZ) October 15, 2019 at 1:16 pm

    Great article! Thank you for the lesson!

    Reply
  7. Arifin Taking October 15, 2019 at 12:28 pm

    Dear Nial,

    Thanks for very inspire writing. After read it i felt like i was reborn again. You have done very good job to stress how important to have a trading routine and to love it. Thanks again and i cannot wait to read your next articel.

    Reply
  8. Lawrence October 15, 2019 at 4:57 am

    Thanks Nail on this great exposition on your daily trading routine.

    Reply
  9. Dan October 14, 2019 at 8:55 pm

    Mr. Nial, very good article. Could you reveal your annual average result in RR ratio after a decade of trading? It would be helpful to have the right expectations.
    Best Regards,
    Dan

    Reply
  10. Mukul October 13, 2019 at 6:29 pm

    Thanks Sir. Really I’m inspired by your articles. Always wait for your post.

    Reply
  11. Invincible October 13, 2019 at 7:34 am

    Thanks Nial . You are Invincible.

    Reply
  12. Teslim October 13, 2019 at 5:44 am

    thanks my mentor, its really nice going through your post over and over. Before stumbling upon your articles, losses on trading had been my partner but after some quite articles i read from you, made me a constant profit trader. As a matter of fact i have recovered all my losses. thanks once again Nial.

    Reply
  13. Samuel October 13, 2019 at 2:57 am

    Thanks for the daily trading routine lesson.i enjoyed the lesson.

    Reply
  14. UWEM ESSIEN October 12, 2019 at 11:14 pm

    I’m very happy to receive your post. It’s well documented. Thank you!

    Reply
  15. Projit October 11, 2019 at 11:33 am

    Dear Nial,

    I would like to express my thought as a new comer and struggler in this trading platform, this is simply an another Great one to learn! Please Keep sending us sir. I always wait for your article to read and learn to walk in a consistent way.
    Thank you very much. God bless you.

    Reply
  16. Don October 11, 2019 at 4:28 am

    Thanks for the article Nial. Learned something new.
    Got a question regarding holding trades for weeks for a better RR. I see that most brokers have swap fee (that applied daily). So if I hold some pairs for weeks to get a better RR, I am worried that the swap fee will eat into my profits.
    Do you have any suggestions for this? Appreciate your feedback.

    Reply
  17. Ramesh Jha October 10, 2019 at 10:31 pm

    Hi Nial,

    Once again, you are just paving the way for us traders to follow the path. Great article.

    Always look forward to your post.

    Reply
  18. Henry October 9, 2019 at 9:14 pm

    You have said it all. Truth is always obvious. All I need do is practice it, internalize it and develop into a habit.

    Reply
  19. Gerald Magu October 9, 2019 at 12:20 pm

    Great article! I will surely try this strategy since I have been a loser for a long time.

    Reply
  20. Andilen October 9, 2019 at 6:08 am

    It all comes down to love. The love for trading. That was very insightful and very inspirational.

    Reply
  21. Khesiwe October 9, 2019 at 1:37 am

    Thanks Nail good article

    Reply
  22. Dave house October 9, 2019 at 1:18 am

    Nial – great article… One amusing exception is your choice off Gates: his fortune came from the 1 clever, somewhat sneaky distribution agreement he did with IBM IN 1981,b facilitated by having . legally gifted parents… The rest of Microsoft’s history has been a fairly simplistic extension forward of system application , until Mr. Nadella took over in 2014.
    Mr. Gates’ fortune was essentially insured by the time of the 1986 IPO, which had nothing to do with the activities of the past 33 years… Certainly not his voluminous reading habits…
    Even as the company’s part time chief technologist, it’s hard to say that his contributions AFTER the IPO were unique…
    But the rest of your piece was excellent…! :)
    (And i actually am fan of Mr.Gates’ work, except his Common Core and political nonsense…)

    Reply
    • Nial Fuller October 9, 2019 at 5:46 pm

      Thanks for the positive feedback on the article. I do however strongly disagree with your view of Gate’s.

      Reply
  23. Rahwa October 8, 2019 at 10:01 pm

    Thank you Nial my trading skills have improved because of you. I am making tremendous improvement.
    May God bless you and your whole generation.

    Reply
  24. Rauf Guliyev October 8, 2019 at 9:31 pm

    What a great article !!!

    Reply
  25. Jude October 8, 2019 at 9:15 pm

    Beautiful. You got it again. God bless you Nial

    Reply
  26. Gabstar October 8, 2019 at 7:13 pm

    Thanks Nial, its a great Article it really inspire me

    Reply
  27. Cepren October 8, 2019 at 5:01 pm

    I enjoyed reading it sir,,,you are the best

    Reply
  28. Zinnur October 8, 2019 at 3:05 pm

    Thanks for article!

    Reply
    • Adibest October 10, 2019 at 2:13 am

      Thank you sir! I will put it in action now! Thanks millions

      Reply
  29. Sam Nse October 8, 2019 at 1:21 pm

    Thanks Nial Fuller!
    This is a good one.

    Reply
  30. Francis October 8, 2019 at 1:08 pm

    I am a beginner and currently doing demos. Very informative article I want to learn more from you. The gist of it is discipline, and I need a bit of logical whipping which apparently you can administer nicely! Thanks alot Neal.

    Reply
  31. Nold Striker October 8, 2019 at 12:55 pm

    But I see a lot of your trades are based on the H4 Time Frame, how would you explain that?

    Reply
  32. AMIN MALIK October 8, 2019 at 12:37 pm

    An honest, candid and to the point, advise, for the betterment of all those TRADERS, who are struggling to improve their performance in Forex tradings. What really would matter is, to simply, adhere to RDH in a true sense.
    NIAL ! Thank you so much,
    with Regards

    Reply
  33. Rey Lila October 8, 2019 at 12:31 pm

    Very Informative…Salamat. God Bless!

    Reply
  34. Mehdi October 8, 2019 at 12:09 pm

    Excellent article Nial. Learning more and more everyday by reading them.

    Reply
  35. SS October 8, 2019 at 9:49 am

    A very good advise to traders. Thanks Nail.
    Is the Bollinger Band a useful indicator (Daily / H4) ?

    Reply
  36. Ivan October 8, 2019 at 8:10 am

    Thanks a lot, Mr. Nial.

    Reply
    • Loini Halweendo October 9, 2019 at 5:42 am

      Dear Nial,
      I am a beginner and I am more than willing to learn. I hope to learn much more from you!
      I am interested to know how to use Moving average correctly!

      Best regards

      Reply
  37. Brian Staggs October 8, 2019 at 7:07 am

    Thanks Nial for sharing your thoughts.

    Reply
  38. Morris A Phillips October 8, 2019 at 5:43 am

    Great lesson Nial. I love your systematic approach to finding high probability trades. Will definitely adopt your system in my trading plan.

    Reply
  39. Raphael October 8, 2019 at 4:11 am

    Thanks

    Reply
  40. Niko October 8, 2019 at 4:03 am

    Thanks Nial, great as always.

    Reply
  41. мирослав October 8, 2019 at 4:02 am

    Hello Nill. I am your student. I look at your lessons. I really like your approach, your system. I really want to learn how you trade. I want to thank you very much for your work. Respectfully your student from Russia.

    Reply
  42. Mario Smith October 8, 2019 at 3:20 am

    Thank you Nail this is awesome and very strong it’s the real way to succeed consistently. Thanks a million.

    Reply
    • Trevor October 8, 2019 at 5:52 am

      Extremely powerful, thanks Nial, I am in your foot print, I will work on your line until I get there.
      I appreciate your efforts. Thanks a lot Sir.

      Reply
    • Ian October 8, 2019 at 1:08 pm

      Great sharing! Thanks!

      Reply
  43. Banet October 8, 2019 at 3:08 am

    Why don’t u use trendlines

    Reply
    • Nial Fuller October 8, 2019 at 3:51 am

      They are hindsight tools, look great after it’s already happened, but using them live is haphazard and not reliable.

      Reply
      • Matt October 8, 2019 at 8:32 am

        your rt boss, i total agree with you. i would have gone far in my trading if not that i went and learnt trend line trading strategy, and after that i started trading with it for about 9 months. but it was a total mess, and when i finally discover that horizontal support and resistance line on the higher time frame is the king i wiped every trend line on my chart away and since then my trading took a turn around. your the best mentor and God will keep blessing you for putting in your time to educate up coming traders like us

        Reply
        • Manohar Nadkar October 8, 2019 at 10:23 pm

          Dear Nial,
          I am always waiting your article for reading..and I getting lot of knowledge and confidence…so pls keep it up ..
          Thank you and God bless you and new traders like me
          Manohar Nadkar
          India

      • Edward October 9, 2019 at 10:18 pm

        Hi Nial, I like the article, thank you. I have been trying to trade for a while now and I still struggle to identify a good trade that will take me for a good positive journey. In another article you mention the 8 and 21 EMA and the crossover of these lines, is this a strategy that a very time poor over worked person can use to enter trades?

        Reply
  44. Lode Loyens October 8, 2019 at 3:03 am

    You are right, routine, as boring as it is, focus and commitment combined with a reliable trading method are key to trading success. As for Mr. Gates, you are not entirely correct. He was (is) smart indeed, but he was also extremely lucky and …. a thief. If the documentary you watched was truthful, surely it must have mentioned the many lucky breaks he got especially during his early years when he was still unknown (IBM is just one that comes to mind) and the many software ideas he admittedly stole from other companies which he incorporated in his own software, claiming it as his own. Anyhow, as always great article loaded with great advice. This one in particularly spells out exactly how to attain trading riches.

    Reply
    • ADELEYE ADEKUNLE October 14, 2019 at 12:54 am

      Thanks for the guidelines. I’m using this strategy presently by checking the weekly chart, look for support and resistance level, then check on daily chart support and resistance level and move to 4H for execution.

      Reply
  45. Anthony King October 8, 2019 at 2:52 am

    Hi, do you have a platform for beginners. I mean folks who know NOTHING of trading but, really want to learn.

    Thanks in advance

    Reply

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