The common way is to pray one set of mysteries a day, and this is stated specifically in the apparitions at Fatima. On average it takes about 20 minutes.
Glorious Mysteries = Sunday and Wednesday
Joyful = Monday, Thursday, Saturday
Sorrowful = Tuesday and Friday
If you want to pray the Luminous (Pope John Paul II) then those are said on Thursday – they are considered optional and not in the traditional psalter, though.
Sundays of Advent and Christmas = Joyful
Sundays of Lent = Sorrowful
Some will pray the entire psalter (all 3 of the traditional, or all 4 total) but I suffered spiritual burnout from trying it myself and had to learn not to overestimate myself.
