The time I spend on FX [Mayo Takano]

In a 24-hour currency market, how you use the time you face the market becomes important. However, how much time you can devote to research, preparation, and trading varies from trader to trader. Here, we asked Mayu Takano, who experienced a side job and became a full-time trader, about her thoughts on the time spent on FX.

*This article is a reprint/edit of articles from FX Success.com January 2020 issue. Please note that the market information written here may differ from current market conditions.

Profile of Mayu Takano

Takano, Mayu. In 2007, she became interested in the housewife who paid 400 million yen in taxes with FX, and began FX trading. This year, she left a major telecommunications company where she had worked for over ten years since graduating, and became a full-time trader. A super active mom who, during long breaks, swims with her child all the way to Cuba. Hobbies include swimming, kayaking, and mahjong. The main technicals she looks at are Bollinger Bands, and her trading is mainly scalping. She also trades binary options and EA trades. Her motto is “Going my way.”

Blog:Lifelong Carnivorism
Twitter:https://twitter.com/lin122111

Time spent as a part-time trader vs. time spent as a full-time trader

Based on work and private circumstances, the amount of time you can devote to FX differs greatly from person to person. I am currently trading full-time, but for nearly ten years I traded while working as an employee on the side. Here, I would like to discuss my approach to the time spent on FX.

During my part-time period, I spent about three hours a day on trading and market study—around 8 a.m. during commute time and 10–11 p.m. after returning home. However, I often went to bed early, so on average it was about 10 hours per week. The revenue also benefited from repeat-type trading, which did not use a system but required manual order entry, taking about 30 minutes a day. There were also days when I did not trade but continuously watched price movements on my smartphone.

During the part-time period, because time was limited, I deprioritized long-term analysis, studies of markets other than currencies, and learning new technical methods, and did not practice them much. Now that I am full-time, compared to the part-time period, the time actually spent trading has decreased, while the time for preparation, testing, and study has increased significantly. On a daily basis, I often spend about six hours on FX, including trades around the Tokyo market’s Fix/Average time and around the London fix or U.S. major releases (roughly 10 p.m.–1 a.m.). When losses continue and I judge I am out of rhythm, I take a break from trading for several days and sometimes only check a 1-hour chart several times a day for a period of time.