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Part-Time Trading Ė Making The Most Of Your Time

By: John Forman

It seems like I am always answering the question as to whether trading can be done meaningfully on a part-time basis. My answer is always the same Ė ďAbsolutely!Ē

Somehow people have been convinced that you have to spend hour upon hour in front of computer watching the markets in order to have a chance at success. That is simply just not true. Part-time trading can be extremely worthwhile Ė in some cases even more so than trading more actively. I am proof of that. Even though I sometimes do have the opportunity to trade more frequently, my best trades always seem to be the ones I do on a more part-time basis Ė the ones that only require an occasional check of the markets.

This may sound strange coming from someone who used to be a professional analyst and really does enjoy the markets, but I really have no desire to spend all day in front of the trading screens. Itís a grind, and I have a lot of other things I enjoy doing a whole lot more than watching price quotes tick up and down. Iím sure you could say the same.

Effective part-time trading is simply a matter of maximizing the time you have available. That might be an hour a night, or maybe a couple hours on the weekend. Maybe itís even less than that. It doesnít matter. If you make the most of what you have, you can do good things trading part-time. Doing so is a matter of developing a method for your work and applying it consistently.

Iíll use myself as an example.

My schedule is somewhat convoluted. I travel frequently and my activities have a seasonal nature to them. There are points in the year when I have almost no time to devote to the markets. At other times I can maybe put in an hour each morning. Then there are also times when things are more open and I can be a bit more active.

Regardless of my time availability, though, I always do the same thing. I scan the charts for the markets Iím interested in trading and look for something specific. If I donít see it, I move on to the next. If I donít see anything good, I donít trade. Itís as simple as that.

My available trading time will dictate which timeframe charts I look at when doing my scan. If Iím at a point where I can be more active, Iíll perhaps look at the hourly charts. If I can only check in on things once or twice a week, Iíll look to the daily and/or weekly charts to find possible trades with longer holding periods. In that way, I can choose the best timeframe for me to operate in for my schedule at that point.

What is more, I donít ever have to trade. Thatís a major advantage for part-time traders. Unlike our full-time peers who are under pressure to produce results every day, we can pick our spots and only go after trades likely to be big winners. Iíll take that relaxed approach any day!

Letís face it. Full-time trading is a commitment most of us will either never be able to or never be willing to make. That doesnít mean we cannot make excellent use of the markets to better our financial situation. Part-time trading can certainly provide the opportunity to do just that.

Article Source: http://www.moneyarticlelibrary.com

John Forman is founder of Time Crunch Trading, a site dedicated to part-time trading. He is the author of the Amazon Top Selling book The Essentials of Trading, and a near 20-year veteran of the markets.




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