I work day shifts and night shifts so I don’t have the time sometimes to look at forex charts. It has not been working so well as I have limited time to trade at some days. What is the preferable lot size and time frames for part time trading. My leverage is 100:1. I blew my account so I’m planning to trade with 80 dollars. I would prefers 100% returns per week :13: but it’s illogical according to experts on return rates. What is safest way of trading part time?
you’d be better of playing roulette :35:
Time-frames: it sounds from your timetable as if anything faster than daily charts is going to be impracticable for you?
Lot-sizes: don’t expose more than 1% of your capital to risk at any one time. This would mean $0.80 and really isn’t worth doing. You’d be (much) better off opening a demo account somewhere like Oanda and trading for practice and education with a fictional $10,000 or $100,000.
A long learning-curve followed by a lot of screen-time on a demo account.
I’m afraid one has to agree, really. 
The best scenario for a trader is to monitor his/her trades, however if you want to be a long-term trader then that is changing. You can select medium or long term timeframes so you don’t have to worry for the trade if you had a good analysis and you are as sure as you can for your trades. Despite that, you have to be careful for important events and economic indicators.
100% return isn’t possible you will definitely blow up your account again. Trade on daily charts, if its not possible then trade on weekly charts.
Then try to use London trading session (most active trading session actually)! Besides, you can use mobile trading and tab trading feature! But, don’t try to grab huge profit by using aggressive trading lot size! You should select your trading lot size according to money manage policies whatever you are a part time or full time Forex trader!
I suggest you demo trade (3-6 month). During that period, learn more about trading plan and practice with the account. You will know how much you need as capital to trade live successfully.
Higher returns is not practical. A good trader don’t just make pips but keeps pips and overall becomes profitable in trading FX market.
Yes I think will good if newbie start with demo account first, making profit one hundred percent weekly is not easy task and almost trader might will say impossble for long run, might on certain week an achieved if trend market supported and also accuracy trading is right but this will use high risk taker I think and for long run will impossible
Well with that approach and profit targets better to try Binary options. They are easier, funny and doesn’t require much knowledge. But they are not away from casino so you’ve been warned 
Haha good one Jezzode! 
But seriously, Lwaziben, you are definitely not alone in this situation. Many traders start with part time trading in the beginning and yes, it is hard but I agree with the above comments that perhaps it would be better if you first open a demo account and explore your options. Choose your instruments, experiment with the risk management, time frames, etc. Give yourself some time so you can build a successful strategy. You can install the app on your phone as well if you have the opportunity to monitor the market while you’re at work.
I support the advise you have given. It is vital to demo trade for some time while developing a reliable trading plan. Without it, success would be rarely achieved.
Hello! Did anybody use social trading platform for trading?
Try to determine your own strategy. After you know more about yourself as trader looking at other strategies helping to pick them better. Would be using brokers with smaller lots and can chat about it any time. Happy holidays.
Part time trading a BS and waste of money. You can trade part time on demo for fun or use BO for that purpose. Forex trading is about full dedication and a lot of resources (material, mental) for that.
Ok I have taken a few things back based on the first post and some of the responses to it. Since I have always been a part time trader I think I can offer a few points that might not help you become rich but will help you find and develop a strategy that might work for you.
First off part time trading is NOT a waste of time. Just dont expect to quit your day job and becoming rich. To have goals are great but the is a big difference between goals and dreams. Dreams are where you want to be and you need to have dreams. Then you have goals that are smaller steps to make those dreams a reality. When making goals try to use what I call the smart goal and this means you goals need to be as follows
S= sustainable (is what you doing able to have repeated results over long term or is it a gamble)
M= measurable (pretty easy one to accomplish in trading most platforms do it for you then you also have myfxbook)
A= achievable (meaning are you willing to apply yourself to work toward these goals or is it something you hope happens)
R= realistic (anything can be achievable for the most part but is it realistically a probability)
T= Timely (is it worth the amount of time being spent)
Now lets take that and apply it to you are your questions and comments
Sustainable: Need to work on a strategy that can produce consistent results that will last. For example My strategy shorting the aussie. 1 pair 1 direction was a great and consistent strategy. But for how long eventually that ride was going to come to an end and well thats not going to allow you to quit your day job. So your going to need to develop a strategy that can adapt to a forever changing market.
Measurable: Is this strategy profitable on a monthly basis? Not saying you can ever have a losing month as you will but are you making more than you lose over the long haul. Many ways to do this backtesting, forwardtesting on demos or even a small account if you wish.
Achievable: Are you willing to put in the work to achieve this goal because you will only get out what you put in. So are you will to bleed for it? Are you will to do what it takes or are you looking for a handout as you already know where that leads with a blown account
Realistic: Be honest with yourself anything is possible but how realistic is it really. 100% a week at what risk? Is it sustainable after a string of losses? Probably not and since you are going to take some losses is it really realistic?
Timely: Say you start your account with $80 How long are you willing to have that money tied up in a forex account to the point it would have been better suited for other investments. I always like to use a bank savings account for this. Say you put that $80 in a savings account at your local bank for a year how much interest would that have gained over the year. Now how much measurable profit can you realistically achieve that will be sustainable going into the years to come? Which was more your trading account with $80 or the bank account? Now you have your answer.
Not saying well if you can beat a savings account then you should give up on your dream of becoming a full time trader (or whatever it is) but you should put that money in a savings account and let it grow while you continue to learn and develop your strategy to b able to achieve your goal toward you dream.
Now how do you go about making this happen? I dont know you or your trading style. But being a part time trader myself I can say a big help is lowering your immediate expectations to something more realistic. Lets focus on just being profitable at first thats a smart first goal. Let start with your timeframe. You know what times of day you can realistically trade consistently. So use that to your advantage and pick pairs that have open markets during that time. For example the EUR/USD moves 100 pips consistently everyday but if your time to trade is the Asian session how realistic is it that the EUR/USD is going to make that move during your timeframe? SO why not look at pairs that typically make there moves during your allotted time to trade and focus on those pairs even if there moves are smaller they are consistent and measurable. You do really need to make that 200 pip homerun every day to be profitable and thats all you need to accomplish your first goal and as the account grows so does the profit from each trade. Again if the trading account cany match or beat a savings account then there is noting wrong with admitting it and owning it. Put that money in the savings account and let it grow while you demo trade and keep perfecting your system.
I had more but I dont remember what I had to say so I will just leave this out there. I hope the best for you. Sounds like you have a long road ahead. Dont worry to much on how long the road is but focus on getting through the next mile and the mile after that and so forth and soon enough you will find the finish line
I totally disagree - perhaps you’d like to add some context to your answer and explain why part time trading is a “waste of money”… Sure it might take longer to find success, just like any part time education however that in no way means that you will not be successful.
As a ‘[I]verified analyst[/I]’ i’d have thought you would add context to your answers as standard. :35:
I still like with forex as part time business, because I am realize if my skill not good enough to making profit consistently, while daily necessity in living always needed, and with treat as part time hence I can get earning from offline job and making saving money from forex business
100% agree with you.
Part time trading just doesnt work in my opinion (unless its just for fun). The stress and pressure of a job, the family demands, the stress of gambling money on the market and the high expectations that come with it…add up to mental carnage. Trading demands your full attention, you cant be desperate, and you cant be distracted.
You are so wrong. Trading in no way demands your full attention if you know what you’re doing. Sure, if you scalp you may have to spend hours at your computer screen, but thats personal choice. I know 3 profitable traders who spend less than an hour a day trading.
There’s more than one way to skin a cat. You need to find a style that allows you to enjoy life.
Happy New Year everyone, best wishes for your trading