Have you ever wondered, how do I trade when I have a full-time job? In today’s video, I will share with you the best trading strategies to use while working a 9-5 job, and my tips for getting started when you may have little time to spare. First and foremost, whatever you do, do not quit your job! Give yourself time to learn and grow as a trader before transitioning to full-time trading. There are three important topics we will discuss today that you must focus on as a part-time trader:
1.) Time How much time can you commit to trading? Are you able to watch the markets for a few hours every day, or are you only able to check the markets periodically throughout the day? Do you have access to a computer while working or a smartphone capable of viewing a trading app that you can use to trade?
2.) Strategy The amount of time you have to devote to trading will play a significant role in what type of trading strategy you should use. For example, day trading can provide you with consistent daily profits with no overnight market risk. However, day trading requires more time in front of a computer, more discipline, and requires more mental energy. Swing trading ( Holding positions overnight for short term gains) generally takes longer for profits to develop, however, swing trading requires far less computer time, mental energy, and financial capital
3.) Execution It is essential to understand how to get in and out of your trades effectively. Take advantage of modern technology and learn how to set limit orders, trailing stops, and alerts. This will help you catch more significant market moves and get better entry and exit prices.
