I’d like to ask for some advice here. But my problem is not about anything directly related to trading. I am not sure if it falls in this category (trading psychology) yet I failed to find another subforum that could host this issue.
As we know, most of the aspiring traders dream about financial freedom and this is why we are in it. We want to get rid of our office jobs. We want to be free of being subject to a payroll. I’ve been learning to trade almost 4 years now and finally it seems I’m on right track to getting “there”. Considering the vast amount of time and somewhat significant capital I’ve invested in this venture along these for years, I feel I’ve earned to enjoy unemployment with an income that I yield and manage all by myself.
Now the problem is I cannot focus on my day job properly. Quite often I find myself checking in on live charts, my excel sheets, etc. while I am supposed to perform tasks and routines for which I am paid for.
If you’re one of those who’ve been through the same, can you give me some advice on how to cope with relcutance to accept the fact that I have to stay “here” until I get “there”?
I’ve had the exact same issue as a volleyball coach. When the season was on I would find myself thinking about line-ups and practice plans and player issues when I should have been focused on my work. The thing I found to at least helps is to assign time in your day when your non-work thing - trading for you, coaching for me - is a no go. You don’t have the applications open, you aren’t on the forums, you don’t look at emails, and whatever else relates to your trading close at hand during that time so you aren’t tempted. Allow yourself a certain period during the day when you can get your fix, though. Don’t go entirely cold turkey.
I am also in the same situation where in i have been trading in the forex market by maintaining my day job. But there is one solution for this, the currency pair which i trade is GBP/USD, GBP/JPY, EUR/USD, EUR/JPY all of these market sessions fall at the time when almost my half the day in office is gone. Hence, i utilize the morning session in concentrating on the work and once the market session starts am trading.
One more thing to note is that if we make the proper analysis and have maintained right money management then there is no need for continuous monitoring we can always give ourselves some break. It is not necessary to be glued to the monitor.
I am not capable to realize trading for living yet so I will only share my opinion how to manage time when you still did your daily routine business while you still tried to trade in forex business. It’s important for you to have proper schedule time for trading so it will make you more relax and easier to focus about making analysis, looking movement of price and prepare the best trading plan which is good with current session for trading.
If you have spent 4 years in trading then you should know what is the opportunity in forex business when you could gain consistent profit. In the beginning, there is no one who can trade as full time but all of them will start with trading as part-time traders. As long as you still believed with trading as profitable business so it’s good motivation to keep on this business.
I think you need to avoid anything which has to do with trading during your working hours, it will be hard at the beginning but with time you will get use to it and focus to trading during your free time. Also a major factor is your work enviroment!
Very much true work environment can become the deciding factor indeed and your boss should not be like the one who is always spying on you or just needs you to sit down even if there’s no task and count the cells in the excel. Luckily i have been able to manage both a day job and my trading.
Lol
But it’s true, don’t move till your working time is over. You might want to do something to fill your empty time in your working time, read some articles then…
Yes although forex open for twenty four hour but isn’t mean we must in front of computer for all the time, we need to take a rest and actualy we can chose on certan session market which has good opportunity to catch profit llike as on london session market or newyork session.
Yes not al session market has good movement, maybe we ever reading if most higher movement occur on london session market because many bank around the world in operation, average for this session around seventy pips, then on newyork session with average movement around fifty pips, but sometime news high impact also influenced in the market although out from these session.
Some scalpers said that London and New York sessions are the best time for scalping. Because the price movement are more than 10 pips (both up or down)
Think of it like this. Your work is the method by which you get funds to be able to trade in Forex. No work, no funds.
I suggest also that you try trading some different pairs that open outside of your working hours. That way you can still get all your work done, and trade as well. Perhaps try different markets.
There was a suggestion about dividing time. This is wise advice, not only for work / forex, but also too, it’s good to schedule in some non - forex related activities, like family time etc. Quality is always better than quantity when it comes to time and it helps keep you sane.
If you commute, perhaps you could use that time to read up on articles, and also if you think it won’t be too distracting, perhaps at lunchtime you could catch up on articles etc. It’s juggle yes. Constant juggle but you’ll get there, just don’t lose your day job before you are ready to move on.
find a fun activity and invite yourself. reward yourself. trade $ you can afford to burn. withdraw a % of your earnings on a consistent basis, it psyches up your subconscious mind. Do everything you can do to treat it like a business. Your ‘why’ needs to make you cry. Hope this helps. Thx
First you have to become motivated to do trading . If you prepare yourself for it then rest of works are not difficult for you as understanding and doing practice will not make you bore. The second thing is your performance that push you to remain motivated.
Yes mental preparation and interest will motivate you . If motivation is not present you can not go good with trading. Each time you are going to trade your motivation to judge market . and manage trading is important.
I had a good friend who had the same situation that you are facing. He worked all day and tried to trade at night. He would buy a trading system that was for the morning, and would try to trade it at night when he was off from work.
Eventually he had about 10 trading systems and he now had the problem of to many signals from different systems and now could not decide on which ones to trade because he could not fit them all on his chart. Strange enough it fixed his problem with what he called the Grail trade, and it was a set-up on Fridays, So he switched his working hours so that he got Fridays off. So this is what he did. Hope this bit of experience helps.
I believe that you are actually facing the issues of multi tasking. What I generally do is to encounter such issues is brain storming and I instruct my brain that ’ when I am doing my regular work I will fully concentrate on these only. I will keep a fixed portion of time in forex trading and i will give my 100% then only’. Believe me it helps me a lot. Try it.