Trading with a Full time job!

volante5767 said:
Hi People.
Im Steve 49, just come for the hideous world of Binary [lost about a grand] now
to the real world of trading and CFD's!
Been studying Forex and commodities for some time now and have been recently studying CFD's too, which i really like. Probably leaning towards CFD Commodities as less volatile maybe more predictable than Forex!
Im a full time Welder in a Factory and obviously have no use of a PC or even a Mobile/ cell.
So its obvious to me any Tech Analysis is a waste of time, that luxury only afforded to people who can watch candlestick charts all day, which rules me out:(
I 'thought' i had found a way but seem to have lost out miserably.
My idea/strategy was this....
I found an Australian Guy on Youtube who would plot Forex pairs for the coming week on Sunday night, giving predictions and Strike rates based on His chart analysis, mainly using S and R.
I followed this for a few weeks put in my orders on Sunday night, all set up with stop loss and take profit, but it really seemed very hit and miss, some of the trades being killed by the stop loss, other orders never started because the predicted rate was nowhere near my order rate, so a failure.
Im a bit down in the dumps as ive been trying lots with no result at all.
Im not a greedy Guy and am certainly not after a get rich scheme that does not exist.
I love trading, just need a little help or idea's please.
Thank you for reading.
Click to expand...


I don't mean it in a bad way but the majority of people on this site are losing traders or don't trade so the advice you're going to get isn't necessarily going to be correct. Infact you will find the same on pretty much every site.
Unfortunately at the end of the day it will be upto you to decide your path.

Binary trading is not neccessarily a scam but the binary trading brokers and the people/companies selling pick services are 100% scam. They are only there to take your money. Binary trading itself is very difficult as you need to understand the markets and understand intermarket relationships to be able to make money. You learnt the hard way but have managed to get out.

As for trading, it is going to take you some time to learn how to trade. If you want to learn quickly, your best bet is to find either a mentor or a trading educator who will teach you. Make sure they have a good history and can back up their claims. Don't put your money down until you are 100% certain.

In the mean time I would continue with your dayjob as you will need an income. This is probably not what you want to hear but you do need to be realistic. Trading is very tough. The rewards are obvious but there is also very high failure rate!
 
I've been both a part time and a full time trader in the last 17 years in forex ....I've been gambling since I was a kid in the 1960's and involved in trading since the 1980s

I've looked at most things.....full time trading bores me senseless......I've been most successful at scalping but again it is very draining......the holy grail is to find what works for you......99% of people entering trading miss the point.......they come in just to make money......big mistake......that won't get to you long term profitability......the opposite in fact

N
 
Trading with a full time job is definitely possible, I have been doing it myself. However, I feel that to be a profitable part time trader, you should focus on the quality of the trades. To pick good trades don’t just rely on technical analysis but always study the fundamentals properly.
 
iq200 said:
I don't mean it in a bad way but the majority of people on this site are losing traders or don't trade so the advice you're going to get isn't necessarily going to be correct. Infact you will find the same on pretty much every site.
Unfortunately at the end of the day it will be upto you to decide your path.

Binary trading is not neccessarily a scam but the binary trading brokers and the people/companies selling pick services are 100% scam. They are only there to take your money. Binary trading itself is very difficult as you need to understand the markets and understand intermarket relationships to be able to make money. You learnt the hard way but have managed to get out.

As for trading, it is going to take you some time to learn how to trade. If you want to learn quickly, your best bet is to find either a mentor or a trading educator who will teach you. Make sure they have a good history and can back up their claims. Don't put your money down until you are 100% certain.

In the mean time I would continue with your dayjob as you will need an income. This is probably not what you want to hear but you do need to be realistic. Trading is very tough. The rewards are obvious but there is also very high failure rate!
Click to expand...

Nice coherent and sensible. People should be read this :)
 
The fact that you can trade forex around the clock has made it easier for part-time traders. I too manage trading along with working in a full-time regular job. The only problem is that I don’t get to enjoy my weekends as I am busy learning about new methods and reading the market.
 
The world has been developing, I see many new jobs every-day. Full-time trading or freelancer is not exotic as 10 years ago. I myself also work remotely for decade. Crypto trading is also popular now, I see many full-time traders earning millions from finance.
 
I used to want to trade FT or sole trade as a career but been PT with trading making up the difference and then some is ideal for me .
It's all about your own goals
 
Trade the bigger time frames as others have said. You only need a couple of hours per week
 
Any updates on your progress? My husband is actually a welder as well and he's just recently gotten interested in the idea of trading. I've been at it for a while, but he's likely going to rely on me to keep tabs on certain things as he also can't watch charts all day. I'm curious to know if anything worked out for you.
 
I think crucially, trading time frames that fit in with your time availability and lifestyle is vital for longevity and staying the course. You'll burnout trying to chase timeframes that you just can't be in front of the charts to trade.
 
Then htf are a must I wouldn't go any lower than 4hr bar your looking for more precise entries it's important your trading style fits with your work and lifestyle in general
 
Honestly, I never see forex trading as a full-time job because it’s too risky. How is someone supposed to have a peaceful life when they will always be thinking about making their ends meet with their money at risk and no source of income?
 
taylorarnold said:
Honestly, I never see forex trading as a full-time job because it’s too risky. How is someone supposed to have a peaceful life when they will always be thinking about making their ends meet with their money at risk and no source of income?
Click to expand...
For these reasons, being a full-time trader is not for everyone. A lot depends on your personality and the types of stress that you are able to tolerate. In addition, I think a lot of experience (and a relatively large starting capital) is needed to make trading work as a single source of income.
 
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