We all start trading with hopes and aspirations of leaving our day job; let’s face it, the 9 to 5 grind, the commute, and the fact we answer to someone else seems to push us toward a more rewarding endeavor and ultimately real freedom. So, what can we do? How can we trade when we have a full-time job to pay the bills?
When I first started trading, I had a full-time job myself. I would spend my days dreaming of when I could trade full time on my own, or at least not have to go to work every day. The answer to getting starting in trading was the pre-market, or what I like to call the “overnights.” This period, also known as the London session, has a myriad of instruments you can trade. The real beauty of the futures markets is that with Globex, you can theoretically trade 24 hours a day from Sunday afternoon through Friday.
Now, not all markets are suitable for trading part-time with the “overnight” session. Unless you are holding a longer position, you need to choose your markets carefully and ensure there is enough liquidity to accomplish your goals. Trading the pre-markets is very similar to trading during regular trading hours (RTH), but there are some significant differences and your trading rules, and plan should follow these adjustments accordingly.
The biggest change is that you must accept that you will be comfortable trading part-time. Many professionals work part time; there are part-time lawyers, doctors, salespeople, engineers, etc. What I suggest is that you decide that you are only going to trade a few days a week during certain hours, and that’s it! For example, I used to focus on the British Pound currency futures contract between 4:30 AM, CST and 7:00 AM, CST. I committed to three days a week during these times. I kept myself accountable using an online trading journal along with a clearly defined trading plan. One thing I cannot emphasize enough is that you must take your trading time seriously. Treat your screen time as if it were the hours you are open for business.
I doubled my account in six weeks as a part-time trader before work hours. DTS has taken my trading to the next level. It is first-rate software backed by first class customer service. – C. Upschulte (Part-time Trader) – Sparta, IL.
Realize You Have a Real Business
I’ll say it again – Treat your trading part-time a real business! Many traders I speak with about a trading system are frustrated about not being able to trade full time, and they are anxious about “throwing the dice” and just going all in. Let me put a positive spin on the job you so desperately want to leave. Look at your first job as an edge for your my day trading. This job provides you with two big benefits: One, by having two sources of revenue, it helps add to your personal bank account, and two, and this is the big one so pay attention – by having a “steady income” (whether it’s the spouse’s income or yours) you will found that you will trade more confidently. Let’s face it; there’s much less stress when you know your bills will are going to be paid, no matter what.
Hal Holbrook in the movie Wall Street said to Charlie Sheen’s character Bud Fox: “Bud, the funny thing about money is it makes you do things you normally wouldn’t do.” I feel this statement holds true for ANY business and trading is no exception. Let’s say you wanted to start a moving company, and you have never done it before; you wouldn’t just run out and buy 100 brand new trucks would you? My point is that you if are still supporting the family working nine to five, don’t rush into things foolishly or too soon. Take advantage of your trading part-time to hone your trading skills and be the best you can be; this act alone will give you an edge over most traders.
TESTIMONIAL DISCLOSURE: Testimonials appearing on www.IndicatorWarehouse.com may not be representative of the experience of other clients or customers and is not a guarantee of future performance or success.
LIVE TRADE ROOM DISCLOSURE: All presentations, videos, and information are for educational purposes only and the opinions expressed are those of the presenter only. All trades presented should be considered hypothetical and should not be expected to be replicated in a live trading account.
Commodity Futures Trading Commission Futures and Options trading has substantial potential rewards, but also significant potential risk. You must be aware of the risks and be willing to accept them to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS, IN GENERAL, ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
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