A part-time trading routine for people with jobs » learn to trade

Meet Bill, an aspiring trader. Bill is a 32-year-old, full-time office assistant working in the city, trying to make the most of his life the best way he knows how. He has a passion for trading financial markets and one day hopes to turn that passion into a full time profession. He loves learning about the markets, trading, investing and finance etc. However, he feels he has a major problem preventing him from moving on to the next level of success; that problem is TIME.

Now, the New York close will vary based on what time zone you live in. If the end of the trading day falls when you’re at home and awake, you can check the markets on your laptop or other computer. As the New York close is so vitally important, if the NY close happens when you’re at work, you will need a laptop at work or a mobile trading platform to monitor the daily close.

Even though I do generally discourage phone-trading, in this case, we have to make an exception as it may be the only option to catch high-probability end-of-day price action setups on the daily chart.

Other than the proper New York close trading platform, you need to have a trading plan which is something you build after having mastered a trading strategy. It may also be a good idea to have the LTTTM members daily trade setups newsletter easily accessible for quick-reference if you’re at work. Make sure you know what time the daily New York close is in your local time, you can figure it out by checking out this time zone converter. A Sample Part-Time Trading Routine

• Bill wakes up about 8am on work days, Monday-Friday. He lives London UK so unfortunately for him, that is about 3am New York time and the USA markets don’t get churning until about 8-9am NY time. So, he will already be at work when the best movement occurs. However, since we are not day trading, this is a non-issue, so please don’t view this as an issue, Bill.

• What Bill needs to already have prepared, before waking up on Monday morning, is his weekly chart analysis, which you can see an example of by viewing my weekly chart analysis. Essentially, you need to do your major market analysis on the weekend, when the market is closed. You are finding key levels, analyzing trends / market bias and taking notes for the upcoming week.

• Bill may also want to check the Learn To Trade The Market members trade setups newsletter at this point, to see what trade ideas, if any, we have published for the day and to contrast this with his own analysis and trading plan. If he sees he is spotting a similar pattern / trade signal as something we discussed in our report, he may see that as an extra piece of confluence that there’s a potential trade.

• The next day, while at work, Bill may elect to check the market at the morning open, which is going to be about 11am for him. There is nothing wrong with checking the market once at work, either on your laptop or phone, just don’t make it an all-day thing. Remember, you should have 2 designated times a day where you’re checking the markets, ideally morning and evening. Make sure you stick to your pre-defined trading plan.

• This might mean you have a few good examples of ‘ideal’ trade setups with you whilst at work, so you don’t forget what you’re looking for. You should include this in your trading plan. I would even say, taking your trading plan with you to work is a good idea, to help you stay accountable and disciplined whilst away from your normal trading desk / office at home.

I have written extensively on the value of low frequency trading, which you can read about in the previously hyper-linked article. But, to reiterate the point here, there is a sort of self-fulfilling cure for over-trading that comes with part-time trading. Since you’re naturally watching the screen less, it largely eliminates the dangers of over-trading. Traders who sit around watching the markets all day, especially with a live trade on, generally fall prey to emotional trade sabotage and trading addiction.

You don’t have to worry that you’re ‘missing out’ while you’re at work because you can trade part-time, around your day-job. This type of trading is also going to benefit you in other ways, especially with managing your emotions and not over-trading. I have long been a proponent of a “set and forget trading approach”, and part-time trading is nice complement to this.

Disclaimer: Any Advice or information on this website is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Learn To Trade The Market Pty Ltd, it’s employees, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd’s, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.