Work Vs Trade

It is possible to trade forex and work at 9 to 17.Can you agree that with you works a lot you have to be a long term trader?

Good question
To be honest I don't like to go to work. Actually I don't like orders and working standart salary. Wake up 7.00 a.m. go to work, go to home and sleep etc etc. I don't like it! I don't like to work for 500-1000$ every month.

Interesting question. I think it depends on how much emotional efford you invest in your daily job. If you just crusing easily then it is posible to trade effectively. If you have a tough job for you then probably only long term trader you can be.
I actually have a promising results now, but anyway I will be working day job, because I am pessimist Unless I will be making enough to survive on trading, I will have a day job.
And I will be looking for something very easy emotionaly, so I have enough for my short term trading.

I still have my day job - just over broke , I started live trading a year ago and blew my first account 6 months ago with Day trading, because of the divided attention, both my job and fx suffered. Since then I moved on to Long term Trading 4hr-daily charts and spend literary only 2 hours a day on fx and gaining slowly, now even the wife is more pleased since I can spend more time with her in the evenings

at 6 in the morning I have a look at the charts and put all the times of the Fundies in my outlook calendar = 30 mins

every hour I have a quick glance at the charts = 2-3 mins x 10

and on every fundie = 5 mins x 10(approx)

Totaling

99.9% of the traders on this forum are balancing work and trading. Some have jobs where they can monitor the forex trading while they work. Those that can't watch the forex only trade a few hours a day at the most. With the use of a good EA, their trading is being done for them in their absence from a computer.

I trade full time from home. Most of my trading is done on 4 hour charts which gives me the luxury of freedom to do other projects at the same time. It's a good feeling to have the flexability to trade and watch a good HBO movie at the same time. My goal is to trade 2-3 more years.

I strongly believe that with good trading systems and programs becoming more available, thanks to the programming guru's, there will be more traders doing what I am doing and trading from the luxury of their own home.

4 hour and daily charting works best in my opinion for those that balance work and trading. Find a good program with an EA.

I wish you good luck.

I'm in that category that can both work and trade in the same time, as my job involves a computer and an internet connection.
I can tell you that the best "setup" was to trade longer term (daily) - basically checking my charts in the morning, at noon and in the evening when I get home. And it wasnt better for me only, but for my boss too
Been trying to trade 1H charts from work, it was bad bad bad, both in trading results an job results.
So to answer your questions, yes one needs to be a long term trader (4h at the minimum if you really need speed), it brings a good balance between trading and work imo.

I concur, if you're working full time longer time frames are more suitable.

you can always modify your trading method around your full time job.not the other way round . if you only have some few minutes to check your charts whynot swing trade or trade using daily charts

Definitely possible to swing/position trade while having another occupation during the day.

yeah its possible, i do keep a job, that earns me a fixed sallary, and still manage to trade swings and positions on hotforex, its hard if you scalp a lot on a daily basis. but its doable.

So in the philippines they pay you to trade during your actual working hours? In europe employers pay you to work during working hours.

I recently quit my day job after working out that 15 pips per day replaces my salary and I can work from home.
This is going to be my first month relying on my trades only... so my fingers are crossed.

^
I think you should have another main job, what would happen if you lose 15 pips today and tomorrow? I think we can't guarantee anything with forex.

A day job is absolutely necessary because a real job separates reality from fantasy

What a nice discussion....

That's true anyway. I got a main job right now, but also interested in trading since 8 years back, never got profit... that's too bad.
But if we see we can hold on forex at least stable and longer profit, even though monthly is only 10%, that would be good, right?


I'm planning to trade from home starting in the next 3 - 5 years. Even more radical, I don't even want to touch MT4, seeing lines, dragging lines here and there, watching economy news, bloomberg, all the bloody things, and then decides whether to open order and when to close. Then feel sad because the decision was wrong....

3 months back I decided to write an apps that can run 24/7, decide to open order itself, closes itself, and avoid any bank holidays. That's based on my observation for all these years looking at the charts, recording time, and looking at the behaviour of the charts.

So, feeling much positive about it...
I still want to test my apps for next 1 - 2 years, so far projected at least 25% per month.

trading is work
isn't it?

if you are planning to work and trade. there's ONLY One way to do it profitably and that SWING TRADING

Good luck on the apps dude! Ambitious goal!

Thanks... (Ambitious goal? I don't know what to say )

Yes (for the ambitious goal), and sometimes I feel myself overrated. But what can I do?

I plan to quit (retire) from my main job as fast as I can, want to do trading as the replacement, want to do a headstart before quitting, but I don't have the talents to do trading. Whole 8 years (or more I guess) I failed with all trading strategy (you named it, I failed on that). Technical analysis, news analysis, swing trading, scalping, reading books, all are good for me at some point of time, but most of the time market moves at unexpected areas, then I suffered a lot of loss. Then I can't trade the next time coz my main job is calling me to be more focus everytime.

Finally noticed that the main factor in my loss was my "emotion" I can't control and lack of knowledge, experience and time. Although there are other X-factors like news, psychology of the market, and all of that could possibly change the price movement. And I noticed that the price movement and time pattern is "fully-programmable" which potentially gives me profit. I threw it all and I started to program that pattern in past 6 months, and testing it past 3 months. I admit most of it are loss though, but one of them gave me profit constantly about 10% per month (25% to 35% max if you push it to the limit). Suffered only 2 losses per 29 closed trades.

So this is something what I was looking for.... by "removing the emotion", and let the apps do their job
We'll see the real profit then in the next 1 year...