While I identify myself as a full-time trader, I only say that because trading is my main source of income.
I’m not referring to the number of hours I put into trading, although between trading, creating videos, and working on this site, it does add a few more hours.
Honestly, I have been there and done that regarding trading from 9:30 am- 4:00 pm every day.
Worse, sometimes as early as 4 am thanks to overnight swings that kept me on edge.
I quickly realized that I just don’t want to be that trader that sits in front of the screen all day.
Trading is mostly a boring endeavor, waiting for A+ opportunities so that your patience can actually pay off at times.
I try to be done with trading between 30 minutes and one hour after the open.
There is so much more to life when all you have to do (to earn a living) is trade.
You might trade as a side hustle, part-time because you have a full-time job.
If you are working towards trading “full-time,” or hope to one day, you might wonder if you yourself want to trade all day or only part of it.
If all you do is trade to earn a living, maybe you understand, perhaps you feel opposed.
There isn’t a right or wrong here, just whatever works for the individual.
But what about the opportunities?
There is money to be made every day in the markets. When you’ve been doing it long enough you just accept that there is no shortage of opportunity.
Note: You’ll miss out on way more trades than those you actually take.
You see, I’d rather go exercise, watch Netflix, clean the house, cook, read a book, work on a passion project or hobby, and spend time doing whatever else I want or need to do (errands included) than to trade all day.
My goals are not tied to money so I don’t really care about what I miss. I’ll be back, reset and ready, the next morning.
I execute my plan, rules, and focus every morning, extracting a portion of profits on a correct probability, or minimizing my loss on an incorrect and/or mistimed trade.
Trading is hard enough. If I can make gains that are sufficient quickly, I won’t waste my time risking them or attempting to add to those gains.
If I do, that means I have to take on more risks and potentially get stuck losing some or all of it and having to battle the market.
I trade for an hour a day or less because…
- Sticking to minimal trading time limits my exposure and risk
- I get the freedom to focus on other goals and projects
- I stay consistently profitable because I reduce and eliminate most emotions and additional risk factors traders deal with
It all depends on what you want to accomplish, how much time you can devote, and your abilities, on how long you decide to sit in front of the screen.
Don’t get me wrong screen time is good, but living life beyond trading is better.
I suggest if you are trying to figure out a schedule, find what works for you.
If you are flexible, change it up.
If you must stick to your schedule due to other obligations, know when your situation changes it’s up to you to adjust.
I’ll always say that the less time you can spend trading the better.
I seek the best opportunities and I certainly want to make a winning trade every day that I can, but I want to be done as quickly as possible.
This is one of the many ways I stay consistent, and even more importantly, excited about trading.
I love to trade, but I want it to be a brief part of my day.
It’s just how I’ve become and it’s great when you know exactly what you want to do and can do it.