Try the crypto markets too they are open 24/7
Has anyone ever done that? I am curious how one can maintain between both working 9-7 job and then trading forex after that. It is rather tiresome.
For me, I can try in some day where I am much more energetic to spend more time on screen, but on other time, it is hard for me to keep up.
When I used to work 5 days a week I found it was straightforward to trade off D1 charts using pre-set entry orders. Many entry patterns require confirmation by a further price move through a level indicated on the chart before you actually want to get in. It is simple therefore to set your order where the pattern will be confirmed - if price confirms the pattern you will be in the trade, if it doesn’t the order won’t be triggered and you have lost nothing.
A good thing about full-time employment is that it prevents day-trading.
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Try lasting longer than a few months.
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I think it’s only good as long as you are maintaining a small account. It aids the learning process as you get to trade on a real account but putting a large sum on the stake while you are busy on a 9-7 job is not a good decision.
@000zamani
If you’re looking to make some extra money and start trading on your own, you need to be prepared for a long and difficult road. But with the right tools and knowledge, it’s possible to make it big in the world of finance. Here are three tips that will help you along the way:
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Start with a solid foundation
Before you even start trading, there are a few things you need to have in place. You need an understanding of technical analysis, charting platforms, and other financial concepts. This will help you make more informed decisions when trading, and give you a leg up on the competition. -
Don’t put all your eggs in one basket
When you first start trading
When you have a 9-to-7 job and want to get into trading. Your main issue is time management because you have insufficient time outside of work. So, first and foremost, make a strict schedule to save time for learning. Knowledge is essential for beginning your trading career.
First, I would be sure to keep your real job and don’t quit it or de-prioritize it or else you’ll get yourself into a bad spot. Fit learning to trade into your free time. You may not have a lot working a job, but it will be possible.
Thanks for the advice.
Stick to the H4 or D1 timeframe if you’ve got a 9-5. Lower timeframes require more chart watching. Practice with a demo account until you’ve developed a system that works for you. Then trade with real money.
IMO trading is a job, not a side job.
You already have a job, better stick to investing. I think Forex is not the best market to invest. I prefer to invest in stocks, as fundamental drivers are way easier to understand and calculate.
For trading, you need to be able to monitor your charts… try to get a job where you can work remotely, so you can freely manage your time, and dedicate at least 2 to 4 hours to day trading. Maybe London Opening… London session or new York Opening.
About profitability… you need to find and backtest a statisticall Edge … and in a very disciplined way, take advantage of It.
Without proper risk management and money management you’re doomed to fail, i feel like this should be a number one priority
And the best part is that once you’ve broken through your threshold of consistency, everything becomes automated, trading becomes your second nature, it won’t matter if you’re still working a 9 to 5 or not cause you’ll know and have results from your “learning curve” that the moment you step in into your trading session, you’ll do the right thing.
For me personally this is my ultimate goal in trading, mastering and reaching my desired level of consistency.
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I like the mature attitude towards trading. You are not fooled (or trying to fool anyone) that the aim of trading is to buy a Bugatti Veyron.
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I can’t even imagine driving around in a car like this. haha But I can understand why one would want it.
It’s good to have a specific goal, isn’t it?
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Can you imagine a Skoda Octavia - that’s mine. I don’t think they’re even sold everywhere. Boring car, but goes like sh1t off a shovel.
(this ain’t me -
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Very nice.
I think I’m fine with a simple 1990 Honda Civic. Not mine but I’ve had a few Hondas in my time. You can buy them cheap, and they can last a long time. Manual transmission, of course, is the best option. You’d be surprised how many Americans can’t drive manual.
I’m never going back to Manual.
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Whether or not you will be profitable depends on what type of strategy you use in your trading. So try to use a flourished trading strategy.