Tips For Day Trading With a Full-Time Job

If you still have a full-time job, becoming a professional trader in your spare time can be quite challenging as I know from experience. Many people have a passion for Day trading but don’t want to take it up as a full-time career or give up their day job. The reason could be not confident about making a Living by Trading. The first thing you must do is Tips for day trading with a full-time job. But What are the tips for day trading with a full-time job? What are its benefits? And how to do it correctly

In fact, after becoming a full-time trader, I actually,  spend 2-4 hours per day only in front of the trading screen. And other times I am working on other things like researching new articles and some personal works. Before turning into a full-time trader, I worked in the Banking sector.

Here are a few strategies that can help you maximize your efforts in the least amount of time and prepare.

 

Indices as a Part-Tim and Day Trading Stocks

Day trading tips

Some day traders do trade all day, the biggest profit booking opportunity lies in opening and closing of the market when volatility is high, full concentrated around the official open and close of stock trading. E.g, In our Indian stock market, starts from 9.15 AM to 10 AM and 2-3.30 PM respectively.

Starting day trade as a part-time, Attention on the opening of the Day. Ready your computer by 9.15 AM prepare yourself your first trades, first, 30-45 minutes is usually the most volatile time of the day, at the same time it offers the most profit potential.

Some of the important locations on your chart for day trading are:

PDL, PDH, Current Day High, Current Day Low, and CPR(Central Pivot range).

Another good option is turning into swing Trading, where you don’t need to whole day keeping an eye on market movement regularly, Building a swing trading strategy. But Decide on which level you want to buy or sell an instrument and put an alert, put your order, place your SL and leave it on its own

 

If you still have office timing that you can’t trade during the stock market hours, You can trade the FOREX market, which trades 24 hours a day during the week, making it a flexible alternative for day traders who only have one to three hours at add times of the day or night to day trade.

Even Trading in the commodity market can be considered which is open till 11.30 PM.

Be very careful of known emotional and Cognitive biases:

Don’t seek out confirming views that support already established opinions, don’t underestimate the difficulty of forecasting and trading when you look at past charts, and don’t overtrade because you had a few winners.

Always put a stop-loss:

Risk management is what will allow your capital to steadily grow. A risk-reward ratio of 2:1 is good for the initial stage unless you find better entry points and exit points that will make it better.

Always seek out new techniques so as to expand your knowledge:

For example, if you are comfortable in technical analysis trader, you can try out new strategies, such as pivot point trading, market profile trading, harmonic patterns, and others, Never stop learning.

These will allow you to build a multi-level decision-making framework that can filter out the good and bad signals, After all, we will not win them all, the complexity is just too much.

CONCLUSION

Every trader wants to make money but to become successful you need to find ways to identify good stocks that will make money.

You can easily Day-Trade on a part-time basis with stocks, commodities, or forex. Learn the times of day that offer the best trading opportunities for your trading strategy, like opening or closing of the day.

Part-Time trading can work well if you trade regularly, and over a period of time you can master it, and it might really help you in the future when you have decided to become a full trader.

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