I have a fulltime job and I want to trade. Aside from my job I still have other responsibilities. Can I still trade effectively if I only have 2-3 hours a day of free time for trading? Maybe a maximum of 4 hours but that’s all I have.
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The honest answer is no.
Of course you could trade effectively with a couple of spare hours, but you won’t succeed in making money until you learn how not to lose it. That could take months of hard work, even years. That’s the reality.
Ignore social media marketing hype, promising you untold riches, it’s mostly fantasy land.
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Hi, that is depending on your manage time skills and trading method. Regards Greg
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You can be a swing trader & besides, pending order strategy can help you! By the way, 1st of all you need to build your trading skill 1st!
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@blueskies18 I personally feel it’s hard to handle so many things at one time especially when trading requires consistency, focus and lots of practice to be fruitful. If it’s about earning some extra income you can try a different approach like copy trading. I too started with copy trading on Zulutrade because I couldn’t afford to spend even two hours a day for trading. But it’s all going well and I’m satisfied so far.
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In fact, for work, trading is quite an interesting option. I also decided to choose this option and started working with a demo account of Amarkets broker.
Use your free time to learn Forex; if you are able to make a good trading skill here then anything is possible!
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In an ideal world we all like to be swing traders ,without having to rely on other sources of income.The way the markets are at the moment we looking for “scraps”
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I think it depends on your strategy, but I don’t really see any reason why trading should take longer than a few hours.
Trading, for many, works better as investing, not as a job. Meaning that you look at your charts, see what’s happening, places your trades, take some notes, then walk away until tomorrow. The idea is to spend as little time as possible trading. Trading isn’t really about time as it is about patience. Technically, placing a trade is just a click. If you see a trade, the decision to take the signal or not is just a matter of minutes.
If you decided to follow just two pairs, you could make good money and take less than 20 minutes everyday.
Studying is another story however.
Of course, you can! There have tons of successful traders who were also started as a part-timer! But, you just need to spend here your quality time!
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Yup. I think it depends on your background and if you already know the fundamentals. If not, then it will definitely take more time.
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Yes. Did it before and it is possible. Comfortable? Maybe not, but definitely possible.
One thing that can help is planning your charts beforehand, If you set up your charts during the weekend, you don’t have to waste time charting and analyzing during the trading week. All you have to do is to wait for the price to move to your entry before you execute.
There are other ways to trade, like scalping, which has shorter time frames like 15 min to 2 min, or you can use an EA robot to do the trades for you, and you can keep track of them through your mobile.
Yes, you can trade forex part-time while still working full-time. Before entering the market, educate yourself on the market and trading. It will help you survive the volatility and succeed in the market.
My advice would be to pursue trading. You would need to choose a strategy that doesn’t require as much time, but it could be possible.