Can I Trade the Markets with a Day Job?

It’s a question that gets asked allot, can I successfully trade the markets while still working at my day job? The answer we like to give is ‘YES YOU ABSOLUTLEY CAN!!”. In fact it can actually benefit you as a trader if you do have a job whilst you’re learning to trade the markets. Let’s take a look at a few trading tips to help you successfully trade the markets around a day job and then some reasons why a day job can actually benefit your trading.

Tip # 1: Have a consistent trading routine

If you want to successfully trade the markets it’s extremely important to have a set trading routine, even more so when you have a day job. This is because trading is all about executing a routine on a consistent basis. Find 30 – 60 minutes within your day when you are not at work and when you will be in the sharpest frame of mind and set that amount of time for yourself each day to only focus on your trading. Ingrain that into your daily schedule and stick to it.    

Tip #2: Focus on the higher timeframes

Since a large part of your day will be taken up at work, you will want to be focusing on setups that occur on the higher timeframes as trades will setup slower than the lower timeframes. So instead of focusing on the 15 minute chart and under you are better scanning the 4 hourly charts and upwards. You are not decreasing your profit potential by focusing on the higher timeframes (as a new trader it may feel like the case but just trust us on this one).

Benefit #1: Having a day job takes the pressure off the “need” to make money

Allot of traders who leave their day job to trade the markets will feel the pressure of “needing” to make money to pay the bills. This can be very detrimental to your trading as you start to over trade and force trades. Instead, the traders who have day jobs have consistent money coming through each month so the pressure to make money through trading is removed which can be hugely beneficial to your trading. The best route to make into full time trading is to only switch over once you have proven that you can be consistently profitable while still at your day job.  

Benefit #2: Less time glued to your screen

You don’t need to be glued to your charts to make money in the markets. The emotional drain of being in a trade and watching the market tick for and against you isn’t worth it, you’re better to place your orders in the market and then leave it to do its thing. Bad trading habits can start to creep into your trading when you do have too much screen time, so avoid this trap!

Happy Trading!

The TWP Team