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for the working people

  • #1
  • First Post: Jun 22, 2006 9:04pm Jun 22, 2006 9:04pm
I just want to know for those who have a full time job..(9-5pm)

How do you manage your trading time? When do you trade? What pairs do you trade? do you break down your trading hours? (evening, and early morning?)Do you trade every other day? What period do you use? (5min? 30min? hour? daily?)?!?!?!??!?! how do you break down your time for reading news and actual technical analysis??!

sorry i know these are a lot of questions, but i'm at a lost trying to manage my time
  • #2
  • Jun 22, 2006 9:22pm Jun 22, 2006 9:22pm
For me, I have given up alot of things unrelated to work. Any chance I get to read up on things Many many hours. Um, for the best way to trade around your work hours, daily charts would be the best way to go for you. I assume you live in the US so, when you get done with work, a new daily bar would be just starting and you could analyze the previous days movement. Also, if you wanted to trade during the Asian session, that would be a perfect time for you. Another thing you could do also, if you were looking to trade on 30 minute or 1 hr charts, you could get up around 5 in the morning and do a little trading at that time before you go to work. I sure hope that helps a little bit and I am not steering you the wrong way.
JOHN 3:16
  • #3
  • Jun 23, 2006 7:20pm Jun 23, 2006 7:20pm
Hi, those are certainly some challenging issues when starting to trade. My only advice is to get a formal routine going and stick to it. trading a certian time of day can have its advantages. I like to trade the opening of a countries markets as often news is released around this time which can create movments in price.
  • #4
  • Apr 14, 2019 6:16am Apr 14, 2019 6:16am
Very good question, sorry for bumping very old thread but I really want to ask in current state of Forex market how people with duties find themselfs in it ? Is it profitable for part-time person with all that information overload ? Just see at how big our forum become ?!
  • #5
  • Apr 16, 2019 3:00am Apr 16, 2019 3:00am

  1. Allocate some time to trading and establish a new routine, structure is key
  2. You might find a strategy that is suitable for the time frame you are available
  3. Let some automation tool help you out with the trading.

  • #6
  • Apr 28, 2019 9:19am Apr 28, 2019 9:19am
Quoting Eredribaen
Very good question, sorry for bumping very old thread but I really want to ask in current state of Forex market how people with duties find themselfs in it ? Is it profitable for part-time person with all that information overload ? Just see at how big our forum become ?!
I think, part time trading is challenging since, good entry points are not available here and there! And if anyone is making profit here; then why he/she will be part time trader?
  • #7
  • May 6, 2019 1:16am May 6, 2019 1:16am
Forex can be taken as a part time job or profession , but honestly speaking i have never seen at any guys who already got success as a part timer . so, i always prefer to take Forex as a full timer even though lots of patience need for that.
  • #8
  • May 6, 2019 10:41am May 6, 2019 10:41am
Quoting MarkFxAnde
Forex can be taken as a part time job or profession , but honestly speaking i have never seen at any guys who already got success as a part timer . so, i always prefer to take Forex as a full timer even though lots of patience need for that.
What about risks? Do you have the same stable income every month?
  • #9
  • May 7, 2019 2:04am May 7, 2019 2:04am
have i said anything about risk or something ? i have just explained , it is really difficult to survive successfully as a part timer , because success in Forex is a long time approach and there is no short cut way to bring something.
  • #10
  • May 27, 2019 6:46am May 27, 2019 6:46am
im part time, i am still learning and am unsure as to if part time is going to work, i find i do miss some perfect entry points but im hoping f i can learn to use pending orders to my advantage then i wont miss so many.
  • #11
  • May 27, 2019 1:11pm May 27, 2019 1:11pm
Quoting Eredribaen
Very good question, sorry for bumping very old thread but I really want to ask in current state of Forex market how people with duties find themselfs in it ? Is it profitable for part-time person with all that information overload ? Just see at how big our forum become ?!
I guess, then I was tough (I am talking about 2006) but now it’s comparatively easy!
  • #12
  • Jun 12, 2019 3:17am Jun 12, 2019 3:17am
Getting up early is my key to success.
  • #13
  • Jun 12, 2019 12:27pm Jun 12, 2019 12:27pm
A lot of working people maintain long-term trades that don't require a lot of oversight.
  • #14
  • Jun 13, 2019 4:11am Jun 13, 2019 4:11am
Developing a trading strategy is a matter of looking for patterns, then devising ways to exploit those patterns.

Patterns occur in every time frame, so you could (for example) develop a strategy based on daily, weekly or even monthly time frames. This will mean you won’t need to be checking charts every few minutes (more like just once a day or so).

As long as you backtest sufficiently and stick to sound money-management rules, it is perfectly possible.
  • #15
  • Jun 13, 2019 10:19am Jun 13, 2019 10:19am
A lot of traders don't really develop their own strategies though, they use premade ones.
  • #16
  • Jun 14, 2019 5:47am Jun 14, 2019 5:47am
Quoting mlawson71
A lot of traders don't really develop their own strategies though, they use premade ones.
agreed, preparing ones own strategy needs a lot of work and testing, which is why most people prefer premade ones.
  • #17
  • Jun 14, 2019 12:26pm Jun 14, 2019 12:26pm
Quoting Alvinjack
{quote} agreed, preparing ones own strategy needs a lot of work and testing, which is why most people prefer premade ones.
It also requires a lot of knowledge and experience, which many traders still have not accumulated yet.
  • #18
  • Jun 14, 2019 3:24pm Jun 14, 2019 3:24pm
Quoting hilmy83
I just want to know for those who have a full time job..(9-5pm) How do you manage your trading time? When do you trade? What pairs do you trade? do you break down your trading hours? (evening, and early morning?)Do you trade every other day? What period do you use? (5min? 30min? hour? daily?)?!?!?!??!?! how do you break down your time for reading news and actual technical analysis??! sorry i know these are a lot of questions, but i'm at a lost trying to manage my time
Using Daily chart is the best option
  • #19
  • Jun 15, 2019 3:44am Jun 15, 2019 3:44am
Quoting Alvinjack
{quote} agreed, preparing ones own strategy needs a lot of work and testing, which is why most people prefer premade ones.
You are correct, it does indeed take work, time and effort to develop your own strategy, but this is where success is. It is, however, not difficult.

If you aren’t prepared to put in the work of developing and testing your own strategy then you’ll forever be scrabbling around trying to find this or that holy grail EA (which doesn’t exist) and you will end up either losing all of your trading capital, or getting so discouraged you’ll eventually give up.

It’s often said that 90% of traders lose money. If you were ever wondering why that is, here’s your answer. Being too lazy to take the time to develop and test a profitable strategy.

Quoting mlawson71
{quote} It also requires a lot of knowledge and experience, which many traders still have not accumulated yet.
Wrong.

It does not require a lot of knowledge or experience. It simply requires patience, time and effort. Even a novice trader is able to look at charts (any time frame) and spot patterns. Devising a way to exploit those patterns is usually pretty obvious, as is revising and fine-tuning that exploit.

Then the real work of backtesting can be done. Again not difficult, in fact very easy. But it is time-consuming and takes effort. It can be done on evenings and weekends. If you don’t have much spare time, it can be done just an hour per day.

But that effort is worth it! There is simply nothing like the feeling of developing and testing a profitable strategy! That’s where the real enjoyment from trading is to be found.

It’s very sad that most traders miss out on this, and the profit from trading a successful strategy, just because they are too lazy to put the work in.
  • #20
  • Jun 15, 2019 5:47am Jun 15, 2019 5:47am
Quoting hilmy83
I just want to know for those who have a full time job..(9-5pm) How do you manage your trading time? When do you trade? What pairs do you trade? do you break down your trading hours? (evening, and early morning?)Do you trade every other day? What period do you use? (5min? 30min? hour? daily?)?!?!?!??!?! how do you break down your time for reading news and actual technical analysis??! sorry i know these are a lot of questions, but i'm at a lost trying to manage my time
Well; I use mainly major FX pairs; and I always wait for a goof entry points according to my own trading strategy and tactics!
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