how we manage Day/swing Trading with Full time job like 9-5

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DTorSwing

how we manage Day/swing Trading with Full time job like 9-5
with me, my previous job in a Bank gave me flexible hours, so I had 2 hrs every morning for 2 yrs and enjoyed learning, but with my new job, 8.30-500 and I need to be onsite in the office and unable to do trading, except checking charts and my trades after hrs and pre
how do you all manage trading when mkt opened with 9-5 job.
 
I swing trade while working a full-time job. I'm off during the week so I have time to day trade if I want, but I hardly ever do so. Swing trading makes more sense to me while working.
 
Day trading while being able to focus on your normal day job is extremely difficult. I typically identify potential positions the night before then check charts throughout the day, TOS has a decent Android app that I feel is better than IB's.

I know I am missing out on opportunities to scalp but it's definitely not as stressful as watching the screen all day.
 
thks Guys. thats what I am doing now, short list in evenings and entering LMT orders in pre mkt, but some dont get filled, due to Gap up/dn.
I use TC2000 which has excellent app for iphone/android but I prefer ipad/Laptop, so I sit in starbucks before get to work, sat 8am cst, look at charts and enter some LMT orders, then go to work.
my previous job spoiled me with too flexible hours :)
 
Cmoss said:
Day trading while being able to focus on your normal day job is extremely difficult.

I typically identify potential positions the night before then check charts throughout the day
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I can't do this in my current job and as I know they wont appreciate taking work time. unless I walk away or step out of office.
This work Environment is conservative and serious. I have had Laid back env before, but NOT this one :)
 
You are just giving your money away if you are day trading with a full time job. Your inability to execute trades efficiently and the higher commissions you pay compared to the institutions puts you at a significant disadvantage. You have a slightly better chance with swing trading, but you are better off with longer term position trading.
 
ScottColeFTA said:
You are just giving your money away if you are day trading with a full time job. Your inability to execute trades efficiently and the higher commissions you pay compared to the institutions puts you at a significant disadvantage. You have a slightly better chance with swing trading, but you are better off with longer term position trading.
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I second this and doing swing. wanted to find out how others are doing DT with FT job. 1 thing many IT jobs allow folks wfh (work from home) for 2-3 days/week so gives lot of flexibility. thats a lucky one if you get
 
I think if you are working another job you simply have to try longer term strategies and it makes more sense to trade something like currencies where you're looking at a bigger picture theme like "dollar strength" versus any specific news event or numbers release.

You just have to remember the market moves when it has to, not for fun. USD/JPY long was a real move that people had been predicting for ages, but it did not happen easily.

Your feedback on trades comes slower if you're putting on fewer trades for longer periods of time. There is a learning curve, and it's longer if you are gaining experience at a slower rate. Also if you widen the field and are starting out, it necessitates wider stops, and if you are wrong more often in your early days (which is perfectly normal and acceptable), you are taking bigger losses when your ideas don't work out.

To preserve capital and keep yourself in the game you should be using very small size until you establish a record of positive results. This requires even greater patience and discipline than if you are able to dedicate yourself to trading full time.
 
First, you need to realize that most of what traders do does not add any value to their money making ability, and this will almost certainly be true for you as well. Look realistically at your work demands and opportunities. 97% of people would be better off working harder at their job, looking for a better job with more opportunities and applying themselves, than to start trading on the side while employed. It will most likely make you a more distracted and less productive employee, unless you construct a very good minimalist plan like what I outline below.

My next suggestion is to focus on swing-trading quality stocks that the big funds like to own. The basic idea is buy into a market with positive drift when short term fear is present, and then repeat the process over and over. Develop a dip-buying strategy that holds 4-5 days to two weeks, and then cycle your capital into the next trade. The more you try to manage your trades and overthink things, the worse you will do. If you can't or don't want to develop a strategy like this, here is a guy (no affiliation with me) who offers good stuff or can help you with a customized strategy:

http://alvarezquanttrading.com/services/

Just keep it simple with minimal "management" and u might do OK.

DTorSwing said:
how we manage Day/swing Trading with Full time job like 9-5
with me, my previous job in a Bank gave me flexible hours, so I had 2 hrs every morning for 2 yrs and enjoyed learning, but with my new job, 8.30-500 and I need to be onsite in the office and unable to do trading, except checking charts and my trades after hrs and pre
how do you all manage trading when mkt opened with 9-5 job.
More...
 
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