However, this line of thinking is fundamentally wrong and I am going to explain why for you in 6 simple steps:. Do not view your day job as an impediment to successful Forex tradinginstead, you should understand that having a day job and a daily routine can actually help you stay away from the markets, and this is a good thing. A job gives you something to take your mind off the markets and let them do their thing without you interfering, and this will work out in your favor in the long-run. Making consistent money in the markets takes a clear and calm mind, and if you are preoccupied with making money in the markets to quit your job or pay your rent, you are unlikely to have the proper trading mindset.

You really only need 30 minutes a day to properly analyze the markets once you know what you are looking for. After you have mastered an effective trading strategy like price action tradingyou can then develop a trading plan based off of it and this will give you the ability to analyze the market very quickly each day. Ideally, you will dedicate 15 minutes in the morning before you go to work and 15 minutes in the evening after work to analyzing the markets.

You see, once you know what you are looking for in the markets, you simply check for your trade setup and either enter a trade or do nothing until the your next market analysis time.

If you focus on the daily charts you can focus on checking the markets after the New York close each day 5pm NY time and then again about 8 to 12 hours later, depending on your schedule. Trading habits are what determine whether or not you make money in the markets. If you are over-trading and over-leveraging your account, then you have the wrong habits that are the result of the wrong trading mindset.

Now, how does your day job play into developing proper trading habits? Too much analysis of the markets usually results in over-trading, so by removing yourself from the markets when you go to work, you will remove a lot of the temptation to trade too frequently.

But, you need to ask yourself why are you in such a big rush? Once you start to see that taking a longer-term approach to the markets pays off, it will begin to reinforce the positive trading habits of patience and discipline, and then you will begin to develop the proper trading mindset more and more, until eventually you are a trader with positive trading habits and the correct trading mindset, at which point you cannot be stopped from making money consistently.

You should never put all your eggs in one basket when comes to investing your money, everyone knows this, and trading Forex is no different. You should view your Forex trading activity as another way for you to diversify your overall investment strategy, it should not be the only way you plan on making money, at least not while you are new to the markets. Analyzing end-of-day chart data essentially just means analyzing the daily charts after the New York close.

To learn more on Forex trading times, check out my article on the best times to trade Forex. Thus, at this time many price action setups form and we also can see a clear picture of who won the battle between bulls and bears for that day. Many traders spend countless hour micro-analyzing the intra-day charts when the daily chart provides us with the most accurate reflection of the overall market picture.

Thus, by focusing our market analysis efforts on the daily charts we are naturally going to take higher-probability trades with a lower quantity of trades taken each month. You can think of trading end-of-day charts as the perfect overall trading approach since it allows you to maintain your regular day-job schedule while also freeing you from the temptation to over-trade and over-analyze the market, while focusing your efforts on the most pertinent view of the market, which occurs on the daily charts.

Trading less is a natural outcome of focusing on end-of-day data and on the daily charts. You need to understand that trading less is a good thing, unlike many aspiring traders seem to think. By trading less than the masses of struggling traders, you will gradually improve your consistency over time and you will also reinforce the positive trading habits of discipline and patience.

You can focus on a handful of major Forex pairs each day like the EURUSD, GBPUSD, AUDUSD, USDJPY and others, to see the other pairs that I focus on, check out my article on the best Forex pairs to trade. When you focus on the daily charts currency converter uae dirhams indian rupees the major pairs, you can expect anywhere from 4 to 12 solid setups each month, on average.

Some traders are trading 12 trades a week or even per day, this is just lunacy and is more characteristic of a drunk gambler at a casino than a skilled and calculating price action trader. Once you learn to embrace the patience and discipline that comes with forex 4 less your efforts on trading the daily charts, you will begin to see a positive change safest forex trading your trading account, you just have to find the willpower to stop looking at those 15 minute charts and start understanding that by not trading you are also not losing any money.

Not trading too frequently stock market investing basics book in with my concept of learning to trade like a sniper and not a binary options trading platform wiki gunner.

The common theme in this article is that you computer brokers stockton ca not have to trade a lot to make money in the markets and become a successful trader.

There is no biggie lyrics get money remix correlation between quantity of trades entered and an increase in the value of your trading account. In fact, it is widely known that traders who trade demo forex trading contest frequently tend to do better on average than day-traders and traders who enter larger amounts of trades each month.

The point of this article how to make money effect photoshop that you should not think your day job is going to inhibit your chances of Forex trading successbut you should understand that having a daily routine and time away from the markets can actually increase your long-term potential to make money in the markets.

You can simply login each day shortly after the New York close and see what major price action events on the charts have occurred. Thamks Nial for this confirmation. Since I started your course I stopped losing money. I have advanced and that only in 4 months.

Thanks for all your insights and teachings. First and foremost, thank you for the wise and thoughtful education I have received from the members forum in A truly unique and honest approach to FX Trading. This article clears the mind of all that chatter about synchronizing the Day Job and Trading.

I personally work part time and trade. Nial,thank you very much for this great article. As always it feels great reading your tips how to trade successfully in the forex market tricks, thank you for sharing it! Best wishes for Hi Nail any eye opener…… thanks and wish u a very happy new year… jatinder. Excellent article as always Nial, and a big thanks for all the free material that you have provided in the past. HAPPY NEW YEAR to you and all the savvy traders who read your posts!

Thanks for that great advise Neil. I started focusing on using ur advise since two weeks ago beat the market a scientific stock market system I can see a great improvement on how I analyze the market. Is bearing fruits so far. Thanks very much for your the great articles and great articles again. I hope to get for trade successfully in this year Thanks for the great articles.

Your great idea and effort benefited me a lot. Happy new year to you Nial. I follow your advice to the letter. I myself work full time, and applying your method and price action set-ups this year has helped me grow my account. I hope to get to a place where I can take your course soon. Have a great new year.

This is the beauty of it. If only we have the willpower to stop looking at the 15 mins or 5 mins chart …… Happy new year. Now i just check morning lunch and evening and get a more calming how to buy gold in silkroad of things.

I am also German, living in Canada. Thanks for the article Nial — you make some great points. Happy New Year to you and all of those in your family circle. Your email address will not be published.

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How to Trade Successfully With a Day Job By Nial Fuller in Forex Trading Tutorials 33 Comments. However, this line of thinking is fundamentally wrong and I am going to explain why for you in 6 simple steps: Keep your day job while mastering the art and skill of trading Do not view your day job as an impediment to successful Forex tradinginstead, you should understand that having a day job and a daily routine can actually help you stay away from the markets, and this is a good thing.

Being away from the market can help develop good trading habits Trading habits are what determine whether or not you make money in the markets. End-of-day data is key Analyzing end-of-day chart data essentially just means analyzing the daily charts after the New York close. How trading less can help you make money faster Trading less is a natural outcome of focusing on end-of-day data and on the daily charts.

Finally… The common theme in this article is that you do not have to trade a lot to make money in the markets and become a successful trader. Now I want to hear from you!

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