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Part-time Trading: How To Be A Successful Trader Without Quitting Your Full-time Job

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Part-time Trading: How To Be A Successful Trader Without Quitting Your Full-time Job

hey hey what’s up my friend so in today’s episode I want to share with you know how to treat part-time successfully right without quitting your full-time job okay so here’s the thing right when you treat part-time right or you’re getting involved with part-time trading there are a few things you must pay attention to number one you must be trading off the higher time frame right and here’s why if you are part time trader uni of like what an hour a day to watch the markets and if you’re trading like the five minutes timeframe right every five minutes a new candle will be painted on your chart so this means right you are pretty much glued to your chair for the next few hours that you’re trading the markets because – every new candle every new piece of information is coming up every five minutes but if you trade off the higher time frame like the daily timeframe then guess what every new candle only comes out every single day this means a new piece of information which you might export right only comes up once every day and you don’t need to spend a lot of time right watching the markets because the information is not ready yet till the candle closes so this is why if you trade off the higher time frame you don’t require as much time to watch the markets okay so first and foremost you want to be focusing on the higher time frames I would say anywhere above the four-hour time frame is suitable right for those of you with a full time job number – right the beauty of Euro trading of the higher time frame is this is that you can actually do your homework on the weekends right I get it right you know when you’re trading the market you’re wondering oh man I have no time to analyze the markets alright I work to do your kids to fetch and stuff like that but hey if you’re trading off the higher time frame you can actually set aside right the weekends that’s not a day the sunday to actually do your homework analyze the market right to prepare for the wiggle here so for example what I do is that on every Friday actually right every Friday I would actually analyze the market and see right which markets I want to be trading right the coming week because if a particular setup right is about to occur you can look at the chest and you will know it for example if you are trading off a bounce play at support right you’re looking to buy support if the price is near support you would know that hey you know this coming week where the market opens there is a possibility that you know the price might get rejected and support any could be a potential trading opportunity for you to go along okay so this is where your homework comes into play you don’t do do it on the weekends right identify your trading setups see which markets right have a almost 90 percent right where the trading setup is almost completed then you want to highlight those markets right for the coming week because this is the the highest possibility right there those markets will have a valid trading setup that will occur I for this coming week so that’s number two right do your homework on the weekends I’m tree so when the markets open what you do well you want to have a routine write a habit write a routine of you know trading the markets right so let’s say your base in Singapore you have a full-time job so what you can do is that for most people the three most freely available time you have is before lunchtime and after work so before work right depending on which time zone you’re in in Singapore I if you’re before work right that’s where the US markets just closed so if you trade off the US markets let’s say the FX markets it closed around 5 a.

m. Singapore time right then before you get to walk around you can actually analyze the TV chatter 0 where the prices close right is there any valley trading setup to enter is there any orders that you need to put into your platform right you can do it before work then maybe you know lunchtime or after work you can check or I see if your orders are triggered after all if the trade is trigger right can you know Journal down your traits screenshot your chance there all right down your entry exit stop-loss and stuff like that all this can be done after work okay so the third thing is that you want to have a fixed routine right of trading the markets even though you might have a full-time job and a fourth alright tip there for you is an important one is that you must look to scale up your account yes you might be trading part-time right but trading in and itself right it’s a compounding endeavor the more money you have right the more money you can potentially make right at 20% on a thousand dollars at count it’s like 200 Ollis a year a million dollar and you make 20% that’s about two hundred thousand dollars a year same 20% right the only difference is the size of the account that you are trading so trading right you need money to make money in this business so for example let’s say you know you start off with a thousand dollars and your first year of trading right you make an average of 20 percent a year okay if you don’t add in any funds right at the end of 20 years you have about thirty eight thousand dollars are pretty decent amount right but what if you know let’s say you have a full time you can set aside you know another thousand dollars a year right it’s like what slightly less and hurdles a moderated set aside another thousand dollars a year do your trading account well guess what now if you start with a thousand dollars all right and you added an additional thousand dollars a year and you maintain average of twenty percent a year after twenty years then amount snowballs to two hundred and sixty two thousand dollars about there you can see that decimal almost seven times right more than what you had earlier had you not decide to you know and in funds regularly to your trading account so the fourth thing is that you know you must always look to add money to your trading account the more money you get any night the faster you can compound the more money you can make at the end of the I want to see any of the database not at the end of the at the end of the you know your your your trading journey your app you will have much much more right at the end okay so with that said I hope this fourth tips helped you write and I wish you good luck and good trading I will talk to you soon you

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