Having a 9-5 job can actually help with your trading! | Forex Factory

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Having a 9-5 job can actually help with your trading!

  • #1
  • First Post: Edited 1:49am Sep 24, 2013 1:14am | Edited 1:49am
What's good ladies and gentlemen ...

Browsing through threads I've found a lot of people talking about how that being a full time trader and focusing on the market shall give better results than being a part time trader. And I disagree with that. I know that I haven't traded yet and those guys may know better than me. But, I see things from a different angle, I actually think that having a busy job and the busier the better will do you many favors e.g. keeping your itchy hands from entering the wrong setups, commitment to the SL and TP, keeping you calm and giving you a piece of mind because your mind will be focused on your job instead of the metatrader on your cell phone .... All the best
So sorry for always replying late! But I got 2 Jobs!!
  • #2
  • Sep 24, 2013 3:46am Sep 24, 2013 3:46am
"I know that I haven't traded yet", well please do trade before u post how it helps to trade being not able to trade most of the time..unless u trade EOD.
  • #3
  • Sep 24, 2013 4:17am Sep 24, 2013 4:17am
Doesn't help with the housework though
Nothing worth having is easy.
  • #4
  • Sep 24, 2013 5:04am Sep 24, 2013 5:04am
Quoting Muhammad Ezz
What's good ladies and gentlemen ... Browsing through threads I've found a lot of people talking about how that being a full time trader and focusing on the market shall give better results than being a part time trader. And I disagree with that. I know that I haven't traded yet and those guys may know better than me. But, I see things from a different angle, I actually think that having a busy job and the busier the better will do you many favors e.g. keeping your itchy hands from entering the wrong setups, commitment to the SL and TP, keeping...
Well no straight answer for this. Why don't you try this by your self ? So you can choose whether to trade as a part /full time trader.
  • #5
  • Edited 9:17am Sep 24, 2013 5:14am | Edited 9:17am
Quoting Muhammad Ezz
What's good ladies and gentlemen ... Browsing through threads I've found a lot of people talking about how that being a full time trader and focusing on the market shall give better results than being a part time trader. And I disagree with that. I know that I haven't traded yet and those guys may know better than me. But, I see things from a different angle, I actually think that having a busy job and the busier the better will do you many favors e.g. keeping your itchy hands from entering the wrong setups, commitment to the SL and TP, keeping...
Quite insightful for someone who hasnt experienced live trading. Time spent in productive work and leisure with family is a gift to others and is necessary for a healthy mind. Trading the market full time is not, at least not for me anyway. The trick is to strike the right balance to maintain the psych required for trading success. However, if trading is just a sideline thing that you squeeze into an overloaded schedule you can forget about profitability
BTC Return This Year: na
  • #6
  • Sep 24, 2013 7:43am Sep 24, 2013 7:43am
Quoting uberteh
"I know that I haven't traded yet", well please do trade before u post how it helps to trade being not able to trade most of the time..unless u trade EOD.
I haven't played in the champions league final as well but having the mindset does nothing with trying ... What's EOD ?
So sorry for always replying late! But I got 2 Jobs!!
  • #7
  • Sep 24, 2013 7:43am Sep 24, 2013 7:43am
Quoting Patience
Doesn't help with the housework though
Obviously
So sorry for always replying late! But I got 2 Jobs!!
  • #8
  • Sep 24, 2013 7:46am Sep 24, 2013 7:46am
Quoting M.A.C.Doug
{quote} Time spent in productive work and leisure with family is a gift to others and is necessary for a healthy mind. Trading the market full time is not,
Bingo
So sorry for always replying late! But I got 2 Jobs!!
  • #9
  • Sep 24, 2013 8:13pm Sep 24, 2013 8:13pm
Sorry cannot really see how having a full time job is going to help anyone with their trading. At the end of the work day, you would be looking for ways to relax and staring at a currency chart is often the last thing you would want to do..
  • #10
  • Sep 24, 2013 8:34pm Sep 24, 2013 8:34pm
Quoting Forexnuts
Sorry cannot really see how having a full time job is going to help anyone with their trading. At the end of the work day, you would be looking for ways to relax and staring at a currency chart is often the last thing you would want to do..
And that could lead to looking at the daily chart for 30 minutes before going to bed
So sorry for always replying late! But I got 2 Jobs!!
  • #11
  • Sep 24, 2013 9:53pm Sep 24, 2013 9:53pm
I would have to agree that having a job or some other interest in life have aided with my trading. When I was unemployed and looking for a job, I was putting more pressure on my trading. Once I began working again and getting back on my feet, I began trading less and my trading improved.

I currently trade off the daily chart and this has helped me tremendously.

Of course everybody is different but I like the angle that Muhammad Ezz was coming from and wanted to share my two cents.
  • #12
  • Sep 24, 2013 10:51pm Sep 24, 2013 10:51pm
  •  Leebos
  • | Joined Aug 2012 | Status: I do not believe in a fate that fal | 75 Posts
Quoting Muhammad Ezz
What's good ladies and gentlemen ... Browsing through threads I've found a lot of people talking about how that being a full time trader and focusing on the market shall give better results than being a part time trader. And I disagree with that. I know that I haven't traded yet and those guys may know better than me. But, I see things from a different angle, I actually think that having a busy job and the busier the better will do you many favors e.g. keeping your itchy hands from entering the wrong setups, commitment to the SL and TP, keeping...
I agree entirlely...well almost.
(we'll take it from your intro that we are excluding shorter term trading styles)
From my own personal experience, I've found that my results are consistently better when I follow a very disciplined regime that restricts my entering, adjusting and exiting positions only within my allocated time slots. However, choosing those prime time slots and working your day job around them can be really challenging.
Now that trading is my sole income, with no 9-5 to compromise my time, the temptation to break my regime is ever present, and I've occassionally given into that temptation with negative results. Being responsible for other peoples money soon forced me back to my regime. Now I'm content just to take in the radio news bulletins while I do other things. Here is my synopsis:

  1. There are really only a couple of consistently"ideal" time slots for most medium and long-term trading styles (look for time / market patterns that suit your method)
  2. A good methodology should not require hours and hours of chart evaluation once you have proven it to be relliable
  3. Extended screen time encourages second guessing, doubt, and deviation from the proven method.
  4. Choose a method with incremental profit taking. Your t/ps will be banking the cash in your absence.
  5. Watching all the movement of the market between your entry and target will torment you into self doubt, greed and fear (your emotional enemies)
  6. Set your entry, your exit and your risk...then walk away and let it happen. If your method is good, your profits will exceed your losses significantly..... without the stress.

  • #13
  • Sep 25, 2013 1:31am Sep 25, 2013 1:31am
Quoting Muhammad Ezz
{quote} And that could lead to looking at the daily chart for 30 minutes before going to bed
My style of trading!
  • #14
  • Sep 25, 2013 8:27am Sep 25, 2013 8:27am
It totally depends on personality. I am a part time trader. I usually trade 2-4 hours per day. And it helps me a lot because I know that if I have a losing streak then I have other income source.
  • #15
  • Sep 25, 2013 10:43am Sep 25, 2013 10:43am
Quoting Status Quo
I would have to agree that having a job or some other interest in life have aided with my trading. When I was unemployed and looking for a job, I was putting more pressure on my trading. Once I began working again and getting back on my feet, I began trading less and my trading improved. I currently trade off the daily chart and this has helped me tremendously. Of course everybody is different but I like the angle that Muhammad Ezz was coming from and wanted to share my two cents.
That's my boy ...
So sorry for always replying late! But I got 2 Jobs!!
  • #16
  • Sep 25, 2013 10:45am Sep 25, 2013 10:45am
Quoting Leebos
{quote} I agree entirlely...well almost. (we'll take it from your intro that we are excluding shorter term trading styles) From my own personal experience, I've found that my results are consistently better when I follow a very disciplined regime that restricts my entering, adjusting and exiting positions only within my allocated time slots. However, choosing those prime time slots and working your day job around them can be really challenging. Now that trading is my sole income, with no 9-5 to compromise my time, the temptation to break my regime...
Thanks for the 2 cents
So sorry for always replying late! But I got 2 Jobs!!
  • #17
  • Sep 25, 2013 10:45am Sep 25, 2013 10:45am
Quoting Status Quo
{quote} My style of trading!
I'm aiming for that too
So sorry for always replying late! But I got 2 Jobs!!
  • #18
  • Sep 25, 2013 10:47am Sep 25, 2013 10:47am
Quoting Scalptastic
if I have a losing streak then I have other income source.
And that for sure helps removing the fear of losing so you trade better
So sorry for always replying late! But I got 2 Jobs!!
  • #19
  • Sep 25, 2013 11:12am Sep 25, 2013 11:12am
Well, I'm not sure about having a proper job - it's no good if it's all consuming and stresses you out. But going by the stats (I don't know exactly what they are, but they have been quoted around here), day traders are more likely to lose. In other words, it helps to trade longer timeframes and yes, that would fit in with a job... or if you're doing well trading, travelling, lounging by the pool, spending more time with your family... It's probably not a good idea to be looking at the charts every few minutes, getting in a panic if your trade starts to go against you. Wouldn't it be great to just look at your charts once a day and find that whilst you were doing x, you made a shed load of pips?
  • #20
  • Sep 25, 2013 5:15pm Sep 25, 2013 5:15pm
  •  Leebos
  • | Joined Aug 2012 | Status: I do not believe in a fate that fal | 75 Posts
Dear Muhammad Ezz

Check out this article if only for the paragraph referring to the traders brain having the car keys to often priceless

http://www.businessinsider.com.au/co...s-grant-2013-9
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