As a 19 year old who works from 8AM - 5-6PM everyday, i just cannot day trade nor scalp as i don’t have access to trade during peak times and session overlaps. I’m really curious as to how you guys trade around similar work restrictions. The eventual goal is to trade full time “professionally”
Also any book recommendations that have helped you guys i’d love to know!
All advice or discussion is welcome 
Welcome Funds. I have personally found the best way to trade with a full time job or career is to trade higher time frames. I like to trade using the daily or weekly candles that way I am looking at signals that are forming much slower and means I will spend less time staring at the charts and my trades will likely last longer with larger price targets. Those are all positives for someone who doesn’t have a lot of time each day for trading and chart reading.
You can do your chart reading after work and then use entry orders that way you can get into trades at the price you want even if you are working. The same goes for exit orders and protecting your position with stop losses.
There are a number of veteran traders on this website that claim to be successful but still work full time. That is simply because it takes a large amount of capital to produce enough returns to live on, plus grow your account, without taking excessive risk. I am married with 4 kids, and while I have honed my skills to become successful I still have to work and have a career while I build my account. I personally won’t retire into full time trading until I reach at least 2 million USD account size. That number is going to be drastically different for each person. I would suggest you continue to strive for excellence to reach your trading goals but be realistic about your journey getting there.
I have no book suggestions but there is a good thread about trading related books that I would suggest you read Pipcrawler's Favorite Trading Books
I am alone only treat forex as part time business, and work for trading with trading sometime as swing trader which open one plan trading for several day, with look on long term target, so although I am leaving my chart due my business hence still enjoy and not much to relying income from trading alone
Hi Funds!
I have been charting and trading a demo using dailies.
To meet any type of financial obligations I would have had to take super risky trades and be incredibly lucky. Not to mention the the whole day trading “mental freak show” that happens with real money when watching the much faster/smaller time frames.
This is what I love about the dailies! Check at close of NY session. Open trades if meet the parameters, manage opens and close if target is hit or market is indicating to exit and I’m done. For me dailies take the stress and emotion out of the equation (drastically reduce!). Also knowing that my financial survival doesn’t hinge on my forex returns lightens the load as well.
I have been using comparing the
With similar system by Caroline Ayuk
If you’re a 9-5’r I look at the dailies - it’s a great excercise in paitience and allows stress free planning of trades helping to get the edge we’re all looking for. No more shooting from the hip for me! One day at a time!
I would suggest reading Krugman’s thread on support resistance it’s tremendously informative!
I’ve learned the hard way it’s all about capital preservation!!
Good luck,
KC
Well, I just use the longer time frames, like the hour, 4 hour, and daily. I have a desk job, so sometimes if I don’t have much work to do at the time then i’ll scalp here and there
Not being able to day-trade could be your life-belt.
Look out for strategies on swing trading daily charts, especially books and video clips by Linda Bradford Raschke, Marc Rivalland and Alan Farley. Have a look at Rayner Teo on Youtube.
I think Daily Charts should be traded by all. Whether you are a 9 to 5 worker or not. As stated above…simply waiting on the Daily Candle at the end of the US Session takes a lot of stress out of trading… mainly for 2 reasons…
Not necessary to spend hours analyzing the Market…which is necessary when trading the lower charts.
MOST Daily Chart Signals are Correct - Fewer False Signals compared to the Lower Charts that have more whiplashes.
As long as you know the overall direction of the market when using the Daily Candle formed…you have a much higher chance of success…
You can also capture a wider range of Pip moves from as low as 50 to 200 Pips depending on your preference because of how accurate these signals are.
Here is an example of a recent trade made on my Live Account that gave 65 Pips in just 16 Hours…I identified that the pair was likely to head back inside of its range setup and that a Bearish Signal was needed.
Once this signal was given as required, I simply entered with Stop Loss at the 4 H Downtrend Line and the Target set for Support.
CAD JPY TRADE SUMMARY
DAILY CHARTS
4 HOUR CHART
DAILY CHART RESULT
CAD JPY TRADE ANALYSIS
Key points
Much easier to spot market direction more accurately
Much more likely to use Strong Stop Loss Areas with Daily or 4 H to protect against temporary reversals.
NEVER watch your trade to avoid the temptation of interfering with your trades - a bad habit created by Day Trading which is hard to get rid off but necessary to avoid interfering with profitable trades.
Once your trade has a high probability of success…it will hit its target without iur help. This frees up your time to return to your 9 to 5 or other daily routine.
Just enter the trade and wait for the email from your platform indicating your successful result…
Duane
DRFXTRADING
I also follow this system; means I use both short term as well as long term trading system.
I will recommend short term trading for people who trade after their regular job activities. The benefit of forex is for every one you can work here as part time trader. Even night trading can be done if you manage your routine accordingly.
Successful on short term will plan for long term trading because they can now trade more effectively understanding market moods.
It could be possible if you can develop a strategy based on D1 charts. It will be a long term trading system. You will take entry on D1 charts. It could be after closing a D1 candle. Or after price makes some retracement. It will depend on your strategy. I personally trade on D1. But the problem is you will not get regular entry. Sometimes you may have to wait for weeks for a good entry. Hope it helps you.
What did you end up doing strategy wise over the last two months? Make any headway formulating a strategy?
I have a 9-5 job and I find it hard to follow the market during the day and I was always losing great trading opportunities. Now I’m in a group that gives me trade alerts, by full-time traders, with the entry price, stop loss and take profit. I just have to grab my phone, copy the trade and it’s done. I’m not saying you’ll never lose, because you will, but in the end you will end up with profit and take advantage of the knowledge of real experts in the field, they even show you why they think is a good trade, so you can get educated along the way.
Are you learning anything though going that route? What happens when the alerts go away, the company disappears or performance just goes down in the dumps?
Will you look for another service or can you actually place trades on your own? I’m not looking to be spoon fed everything.
I actually know how to read charts, I just use the alets when I’m working and I don’t have enough time to analyse myself the charts. They end up being quite usefull and profitable as well.
You want to practice charting and get good at swing trading.
Have TP and SL set up so it does not need adjusting whilst you are at work.
Can I ask what pairs you trade? Is it just one or the pair doesn’t matter?
How much of the strategy is explained to you? Or do you even need to care?
I’m definitely looking for a balance with work and trading, bit what to understand why a particular trade was made.
