Trading with a Full-Time Job

[zoner89131]

I wanted to start a thread to see if anyone has a similar situation or trading style as me, and provide ideas to try and improve.

First, I have a full-time job but have the freedom to check the market periodically throughout the day. I have been trading for about 8 years. I trade for my 401k and retirement accounts (maybe I will trade full-time after all my kids have grown-up) . Last year was a great year because of the volatility.

Second, I live in the Pacific Time Zone and trade the pre-market and the first hour the market is opened. In my experience, the first hour and two hours before close work well because of volatility.

Third, I trade futures, mostly the ES, EMD, YM and NQ. I like the futures best because stocks do not always follow the overall market trend.

Fourth, I use IB and Buttontrader. I really like Buttontrader's mini-chart setup, and many times trade off of pivot points both long and short.

Fifth, many times I trade on news events. I usually wait for pullbacks after the initial reaction and follow my gut instinct of how I believe the market will ultimately trade. For example, on Friday I went short after the market spiked following the jobs report, believing the market would pull back because the news was still awful.

I am interested to hear of anyone who is in a similar position and what successful strategies or products they employ.

Thanks

 

[soonenough]

Yes, I've been trading with a full-time job for 3-4 years now. I trade mostly US equities but occasionally the YM and ES. It has become more difficult to focus on trading as my job responsibilities have continued to increase due to promotions. I've come to the reality that no man can serve 2 masters. I'm planning to make this the last year I work for someone else and will begin trading full-time in 2010 if all goes well this year.

There were times where I couldn't trade the open/close due to meetings, so my trading style was forced to adapt. I research and make decisions based upon the research. I don't have a specific strategy.