Trading with a full time job just may be impossible

Beginner Questions
82

Like I says, theres always swing trading off the 30, 60, 240 or daily ---- higher timeframes lead to larger drawdowns as the currency prices move up and down during the intraday, BUT if you havent the time, this “investment” style trading works ---- couple it with the Linear Regression Channel and Barrys “support and resistance” chart overlay and its a true system, in and of itself, which works well for those with no time.

BUT you danged well better follow excellent money management techniques cause there WILL be drawdowns !

enjoy and trade well

mp

[B][I]Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !

As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence – BUT I KNOW WHERE THEY HID THE KEY !! [/I][/B]

83

trading while working is possible, but it can change your emotion and your job…
I do not recommend this…
If you like your job, don’t trade while you are working. you can trade in night,just take 3-5hour each day after your job finished…

84

Well. That is why I don’t use indies anymore because I had to be stick onto the screen all the time and finally I went impatient and started to take anything that looked like an entry signal. Today I trade once or twice a month, I use 1D charts and fundamentals. Normally when the last trade seems to be a far far away memory I make my analisys all over again and then I wait for the moment to get in. And that is all.

85

Kinda have to agree on this.
Tried to trade on smartphone while working and its was really a huge emotional mess. Especially when loosing.

86

I too have job. Finding extra time for Forex trading is not an easy task specially if you are married and have a family life. Anyway if you can prove that you can provide a good income worthy of those hours it is possible to gain support from your family. It is all about time management. Priority list has to be made. In my list family comes first; then my regular job and finally trading.

87

Married and job having people can not do forex for full time they can make it a side business spending 2 to 3 hours daily for forex trading. Forex need full attention where you are free from job tension no family matters interfere your trading decisions. for forex cool mind and relax atmosphere helped to make good trading.

88

[QUOTE=“imbest;715315”]Married and job having people can not do forex for full time they can make it a side business spending 2 to 3 hours daily for forex trading. Forex need full attention where you are free from job tension no family matters interfere your trading decisions. for forex cool mind and relax atmosphere helped to make good trading.[/QUOTE]

I agree with the job bit but what’s the issue if you’re married?.

89

Haha

Nice one.

Beside the fact that you can be married but also co-habiting, being in a civil partnership, flat-sharing,

etc. (but we will not get too stuck on labels here), I do not think, Imbest, that you have to be a hermit

to trade financial assets! I think that you can still work from home and have a family or be in a loving

relationship with a significant other: the two aspects of your life, work and love/family, do not have to

be mutually exclusive…

Think about this: how do modern (and past) artists manage to write music, make paintings, carve statues,

etc. while also being fathers, mothers, boyfriends, girlfriends etc.? Do you think all freelances, whether

artists, traders, or what have you, have to take a vote of chastity to be successful?

Of course you do not think that… or at least, I hope not!

I think that, if I interpret your words correctly, you mean this: if trading from home is chaotic and stressful,

find a studio (if you can afford the rent) or, if not, pick a time when everybody is out (e.g. kids at school

and/or partner at work out of the house)… if that fails, make clear to everyone that they need to make

a compromise with you, that is, they can have your time for the evening but, for one hour, let us say,

you need to be away working and do not want to be disturbed… An hour is like an eternity for people

(especially children) sharing a house, so you may get interrupted anyway, but you can be firm, if you

are serious about making trading your business. . .

SimonTemplar is one such BabyPips forum peep who has a family and manages to trade very well

from home… and he is not the only one, I am sure…

He talked about it on page 13 of my thread, here:

http://forums.babypips.com/forextown/64809-why-we-need-more-good-female-traders-13.html

So, there, another myth-buster: a family man who trades successfully from home! Cripes! Haha

90

There was a post a week or so ago where someone suggested that if the blokes wife didn’t like him trading maybe he should leave her because she wasn’t a supportive wife!. It made me laugh.

After reading the posts above mine I thought I was going to have to leave my wife and abandon my daughter…then I realised I already trade and have a wife and child.

Another quality post from pipmehappy to put these crazy people right when all I could manage was two sentences but then again I was trying to curb all of the sarcastic comments that were running through my mind!.

Shy

91

Hello bizbad–captgrumpy here from Ontario Canada
I have been reading your posts and replies from several traders with interest.While there were several good suggestions
it appears none have really answered your question.I’d like to put in my 2 cents worth for your consideration. First of all it
is possible to trade Fx while working full time–can you spare about 15 to 30 minutes a day for trading?If so maybe you
should check out a plan I submitted to babypics a few days ago that just might be the answer to your problem,or at least
a place to start.The plan is called ESP Fx Swing Trading System With A Complete Financial Plan. (the ESP stands for Easy,
Simple,Profitable) There are 2 parts and extra info in 3 posts.You’ll find them somewhere ost likely in the free trading system section.As explained this plan is a bit different than most with the chart set up in a special way which the system is built around.Once the system is set up it only takes a few minutes daily to check the chart and make any trades as indicate by the plan. Check out the posts-I haven’t posted the financial plan yet–let me know if more info etc.is wanted.

92

Trading with full time job is not impossible; however you need to do proper time management. This where planning comes in. first, you need to decide the trading style which suits you the best whether it is day trading or long term trading. After seeing all the discussion it already seems that you have got enough knowledge of how to manage in both the situations. So, clearly all it depends upon how you want to deal with it. I too have a full time job and finding extra time for forex trading is not an easy task. So you need to set your priorities and then decide about this matter.

93

I’d never seen this thread before (but I suppose that’s not surprising, given that it started off in 2007 when I was still in high school) …

I’m aware that trading successfully with a full-time job isn’t impossible, but what I have great difficulty understanding is how people with a full-time job manage to [B][U]learn[/U][/B] to do it successfully in the first place: all the necessary hundreds of hours of education and thousands of hours of screen-time common to almost [I]all[/I] successful traders must be pretty hard to accommodate on top of a full-time job?

94

If one has a family and especially children any well-laid plans can go out the window without a moment’s notice, unfortunately. It’s hard to both work and trade. Not impossible, but it is very hard.

95

Become full time trader and only relying with forex trading result, I think this is difficult task and might will become problem if no another source income, but if any trader having another business as source income hence treat forex as part time I think giving more enjoyment in living and if loss in forex still having another income

96

I am only new here so posibly will not have a lot offer. I have a saying “nothing changes nothing changes” Meaning if I do the same thing how can I expect a differant result. If I continue to work 9 to 5 I know what I will get. I endourvor to not make excuses. Heck I have just made a decision today after my life being turned upside down after 27 years to go and train for my security licence again. If I may give you example. Start with $1,000 in forex account double each year. Year 2 2K 4K 8K 16K 32K 64K 128K 256K 512K Year 10 1 Million. Without compounding if you trade 3 days per week is only about 3/4 of a percent per day. You can work your own numbers from this, your goals aspirations etc. I belive if .you stay around here you may learn something. You are here. Ask your self why.

     Happy trading John.
97

This, is what University is for. All those endless hours of free time with only three hours a day of lectures :slight_smile:

At least, that was my reason for University*…
[I]
*success is not guaranteed, throwing away an education may not suit everyone[/I]

98

[I][U]Three[/U][/I] hours per day? Hmmm, you did an intensive degree course, compared with some of us … :8:

99

Just a standard non-academic Finance degree - anyone with basic business knowledge can breeze through it!

101

Anothe reason Day Trading is impractical

Just Swing Trade on the Daily and 4 Hour Charts.

Daily Chart gives its signal at 5 PM Est when most peoples job ends.

When the signal is given, it hardly ever moves much, giving you enough time to calmly assess the candle and make a decision.

4 Hour Charts also give signals at 5 Pm, then 9pm, 1 am, 5 am, etc…

Takes a few minutes to glance at the candle… if its the right signal you are looking for, takes 5 minutes to execute trade.

With Swing, can spend just 1 hour in the evenings analysing the market and decide on the type of signal you need.

Once that signal given, just need 5 minutes enter the market, leave it, go back to your 9-5 routine, reap the benefits.

[B]
Duane
DRFXSWINGTRADING[/B]

102

Day trading is possible with a full time job, it depends how you approach the market. I focus on European open and place my orders for the day prior to leaving for work. I wouldn’t dream of quitting my full time job until I’ve reached a significant account size, deep into six figures.

However, my point remains, build you approach around when it suits you and ensure its backed up with practical reasoning (rather than ‘curve fitting’)