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Topic: The secret of successful part-time traders - page 2. (Read 615 times)

hero member
Activity: 1148
Merit: 504
As a successful part time trader, you must balance work and trading by cutting down time for unncessary items on your schedules. Reducing social media presence for an hour a day can go on to add some time resource for your trading activities or even reviewing charts.
Yeah I think you just need to adjust the time between work and trading, reduce the time in social media, because I know most people nowadays spend more time in social media, you can use that time to do parttime trading, actually the key is to manage time correctly, to balance between regular job and trading
newbie
Activity: 138
Merit: 0
Thank you for sharing. I'm thinking about quitting my current job and trade for all time - This post will help me a lot in making the decision.
newbie
Activity: 126
Merit: 0
all of the points you have mentioned (great post by the way) revolve around the fact that you need to know what you are doing. and so I think as long as you have a clear plan that works for you, you should just stick to it. and it's also important that you learn a lot, because it's a very vast field we're being initiated in here.
secret of the transactions of the family transactions are they have they have an alias of their they know the target as the same direction of the same time that are not good information and have the undefined the default terminated and important has fields
member
Activity: 546
Merit: 10
This is my list:
1.For time management and productivity,use the Pomodoro technique or the 5217 technique (google them,if you want).
2.Read the best 3 books about forex trading.I`m not going to recommend you any books,just do some research.
3.Find a mentor,who is willing to provide free info about his trading experience(tips,tricks,mistakes,failures).
4.Learn technical and fundamental analysis.
5.Learn how to overcome the frustration and panic,when the market crashes.
Being good at trading makes us more profitable and lessen the misfortunes about loss. I just want to be a trader someday who can earn above $1000 per month. Somewhere I think that it is good to be a trader right now than to be a bounty hunter. In bounties, we are just wasting our time with useless rewards while trading helps us to earn but we need to be a specialized trader only before we can go along to the market.
sr. member
Activity: 1918
Merit: 256
Just.bet - Decentralized On-chain Casino
I think you can't do very well any part-time job especially trading you have to be glued to the markets and news to make successfull scalps
A part-time job just to earn extra money, so a suitable trade is a long-term trade. and focus on reliable coins such as eth, ltc, eos, eon doge and still many coins that are suitable for trading.
full member
Activity: 2170
Merit: 182
“FRX: Ferocious Alpha”
I think the secret of the part trader is luck because trading day trading is need to monitor and focus what is the possible coins going to increase according for the self analysis, The part trader's one of secrets is brave even do have no a lot of time to learn what is coins become profitable they gamble their investment and ready to accept their loses.
member
Activity: 546
Merit: 10
💲 EMIREX EXCHANGE 💲


         1. Define your method of transaction and style

The biggest problem for part-time traders is the amount of time used for trading. If you can only spend one hour per day for trading, it will be very difficult to make actual profits. You must have a clear plan. What would you do in an hour? Will you trade in scalping or long-term or mid-term? Asking yourself these question, having a detailed plan for trading, then choose the best method.


i think we need to keep adaption with any style of trading itself, because the fluctuating market price can make all the plans we previously made for long-term can turn into scalping, because there could be FUD info
hero member
Activity: 1834
Merit: 523
This very helpful to those people who are busy to their job or or being student. Im student and I have only few hours in trading after school but even Im busy I can do still trading because I have time managements and I do fulltime trading during weekend. But during week days only few hours that I spend.
member
Activity: 630
Merit: 20
You've shared the secret of your success, hence I can really say that I am lacking of time management. Aince I have a full time job and I am just a part time trader, I should have manage my time smartly so I can follow your steps. I also didn't know about forex community, glad you shared your secret so I may join them for  my additional knowledge about trading.
sr. member
Activity: 643
Merit: 264
I think you can't do very well any part-time job especially trading you have to be glued to the markets and news to make successfull scalps
full member
Activity: 476
Merit: 100
well this article which seems to be same as OP with different words is explaining the same rules (7 of them) in a better way: https://www.babypips.com/trading/part-time-forex-trading-20180214
but the internet is filled with these stuff: https://www.investopedia.com/articles/trading/10/top-ten-rules-for-trading.asp

these are all talk and none of them would help any beginner to learn how to become a successful trader. in my experience people have to start trading to actually learning things. if you are trading Forex,... there are always demo accounts you can use to not even use your real money! and in cryptocurrencies you can always start with a very small amount of money and don't risk anything big.

I'm agree , you would never learn much if you don't start , it is like driving , no matter how many books you read about it , you wouldn't learn if you don't drive an actual car!
Exactly it is true you will have to learn by yourself as no one will work for you so I think it is good time that you should start trading and get more profit than before, for starting just take your money and invest in long term trading, before trading try to increase your knowledge and your skills about trading, trading needs only knowledge, skills, money, and patience to become a good and successful trader.
member
Activity: 189
Merit: 10
People do not have a solid strategy, they are just following the money that is above their eyes, that is the main reason of why they start losing money just when they start trading.
hero member
Activity: 1036
Merit: 520
well this article which seems to be same as OP with different words is explaining the same rules (7 of them) in a better way: https://www.babypips.com/trading/part-time-forex-trading-20180214
but the internet is filled with these stuff: https://www.investopedia.com/articles/trading/10/top-ten-rules-for-trading.asp

these are all talk and none of them would help any beginner to learn how to become a successful trader. in my experience people have to start trading to actually learning things. if you are trading Forex,... there are always demo accounts you can use to not even use your real money! and in cryptocurrencies you can always start with a very small amount of money and don't risk anything big.

I'm agree , you would never learn much if you don't start , it is like driving , no matter how many books you read about it , you wouldn't learn if you don't drive an actual car!
full member
Activity: 392
Merit: 101
For me, one of the most important secrets of trading in crypto is one of the most basic factors is intuition. With intuition, trading crypto is very useful.
sr. member
Activity: 2422
Merit: 357
The best rhing about it is that you.dont need to quit you job just to trade. You can still do trading even at work earning fixed income for a living and a passive income for investments. You just need to have a time management where you didnt miss anything on your work, same on the trading.
member
Activity: 490
Merit: 10
As a successful part time trader, you must balance work and trading by cutting down time for unncessary items on your schedules. Reducing social media presence for an hour a day can go on to add some time resource for your trading activities or even reviewing charts.
newbie
Activity: 14
Merit: 0
The secret of successful part-time traders.  Kiss Kiss
newbie
Activity: 182
Merit: 0
the points mentioned are really valuable suggestions every newbie and part-time trader should follow at all times especially point 2 and 5 are very important to remember and follow
newbie
Activity: 4
Merit: 0
I have been trading for decades.  Before cryptos it was stocks.  There is no clear cut formula.  Some people have what it takes and some don't.  But there are tools which can increase your chances for success such as:  https://www.patterncap.com/product-page/gdax-trader
member
Activity: 232
Merit: 38
these are all talk and none of them would help any beginner to learn how to become a successful trader. in my experience people have to start trading to actually learning things. if you are trading Forex,... there are always demo accounts you can use to not even use your real money! and in cryptocurrencies you can always start with a very small amount of money and don't risk anything big.
I think it's truly reasonable to state that at first it is important not to spend a lot of money, just to spend time on experiments to see what's going good and where one has some problems. On this market the prices change all the time, but I bet there isn't much use in selling something with less than at least 10% profit, so I guess constant buying and selling doesn't make much sense.
It is also a lot easier to simply invest money long-term and not waste time to daily trading, but there's no regular profit in this case.
I've never tried daily trading, only long-term and short-term investments, because trading requires spending quite some time regularly. I think it's worth trying some time later when there's a certain daily amount of time to spend of that.

I would say that daily trading is probably one of the hardest to become successful at. Most of my most profitable trades had a holding period of 2 weeks to 2 months. But I think one of the most helpful things is actually committing a little bit of money and trying things out.

You do have to be careful picking the platform you trade on. Some of the exchanges have a lot more issues. For example, I was trading some crapcoins on coinsmarkets when they pulled an exit scam. Or an exchange I've steered away from is Yobit, I've heard and seen lots of complaints that they won't update wallets and will be on the wrong chain for lots of coins.

Ultimately, short-term trading has a lot of the same mindsets as long-term trading, you're just taking profits earlier and trying to bump up the compounding effect. You're looking for coins with real potential, not coins that fall in the "yet another clone" camp. Also make sure you don't get caught in coins with very low trading volume, or you can wind up thinking you've doubled your money, but find out that your sell orders aren't filling.
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