I'm a part time trader too and the Daily, Weekly and Monthly charts are the most suitable for us because it doesn't demand so much time compared to intraday trading.
{quote} Absolutely true! most of the traders don't make profits and also for a part time trader time management is the most difficult part.
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True. You need to juggle your work, your family life, your domestic chores, whatever other obligations you have, just to find time to trade. It's not easy.
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Additional Username
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Joined Mar 2016
|578 Posts
The problem with part-time trading is that trading itself is very difficult and that there are many obstacles that one needs to overcome before becoming consistently profitable.
{quote} Trading is already a headache which needs time and attention to be cracked and solved being a part-time trader would definitely make it more difficult to solve the puzzle if you are new to trading but for pros part-time is the best way to do other important things.
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That's true, but most traders are part-time traders. Very few people are full-time traders, and the rest just have to learn to deal with having to juggle trading and the rest of the responsibilities, they just have no choice on the matter.
Personally, I don't see any problem with that! I've even heard that you should not trade the same amount of hours as your 9-5 job, since trading entails a huge and almost constant pressure. So, being a part-time trade can be good.
Personally, I don't see any problem with that! I've even heard that you should not trade the same amount of hours as your 9-5 job, since trading entails a huge and almost constant pressure. So, being a part-time trade can be good.
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By being part-time trader your loose focus and context.
Why the winners in this industry have dealing desks in each time zone?
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Commercial Member
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Joined Jan 2017
|1,389 Posts
I trade part time without any issues at all. No loss of focus although I do have the occasional missed trade which isn't an issue because opportunity is plentiful. Why sit and stare at a screen all day when you can operate off an easy trading schedule which is the economic calendar.
being a part time trader is not bad, but you are not able to focus on your traders, you may miss a huge sell out point or you may not be able to focus on your regular job as your mind wanders around whats going on with your trades, it's better to be an investor if you want to be part time trader.
I have to agree with Melch...Longer term timeframes are absolutely the better way to go. So with longer term Timeframes it takes less
time from you and is definitely less stressful. I look at 22 Forex pairs plus 8 Commodities and I spend an average of 30 minutes a day
marking up my charts. Swing Trading (Part-time) is in my opinion the way to go! Best of luck!
I trade part time without any issues at all. No loss of focus although I do have the occasional missed trade which isn't an issue because opportunity is plentiful. Why sit and stare at a screen all day when you can operate off an easy trading schedule which is the economic calendar.
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So, do you have any specific session target? Or you do only when you are free actually?
{quote} So, do you have any specific session target? Or you do only when you are free actually?
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I don't have any session targets but do target a monthly gain of 10%. I trade according to the economic calendar so know in advanced when trade opportunities will be available.
{quote} I don't have any session targets but do target a monthly gain of 10%. I trade according to the economic calendar so know in advanced when trade opportunities will be available.
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Well; 10% monthly target! It’s a decent aim for sure! I hope, you have set this trading target according to your own trading experience & trading result! Keep hunting.
{quote} Well; 10% monthly target! It’s a decent aim for sure! I hope, you have set this trading target according to your own trading experience & trading result! Keep hunting.
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I have been doing >10% every month for the last 15 months. This month has been my best with over 16% gain. Its important to not set daily targets or even weekly targets as that puts far too much pressure on success. Gaining 0.4% here and 1% there is how I do it and it all adds up at the end of the month.
{quote} I have been doing >10% every month for the last 15 months. This month has been my best with over 16% gain. Its important to not set daily targets or even weekly targets as that puts far too much pressure on success. Gaining 0.4% here and 1% there is how I do it and it all adds up at the end of the month.
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15 months, quite impressive, mate! I’m sure, very soon you are going to increase this target logically!
{quote} I have been doing >10% every month for the last 15 months. This month has been my best with over 16% gain. Its important to not set daily targets or even weekly targets as that puts far too much pressure on success. Gaining 0.4% here and 1% there is how I do it and it all adds up at the end of the month.
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That’s really awesome! Even, I am not trading with a specific daily trading target. Honestly, it’s not possible to make daily profit in Forex whatever the target it is.
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Additional Username
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Joined Dec 2015
|3,529 Posts
I don't think that a daily target is a very wise choice. A weekly and a monthly one, yes, but a daily one shouldn't really be pursued because the market can be very different on a day to day basis.
I don't think that a daily target is a very wise choice. A weekly and a monthly one, yes, but a daily one shouldn't really be pursued because the market can be very different on a day to day basis.
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daily target sometimes causes a great risk , i don't like it.
