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

Also, an important thing to include is to have the experience to gain and to learn from it, most of the points that the OP mentioned will be the part of your previous experience stacking it to your skills to make you a successful traders most especially how to deal with your investments as to when are you going to sell and buy, good list for the starters.

The amount of time spent on the trade is very important especially to most part time traders, even the time to spent to analyze which of the two possible coins should you go for should be accounted for in the market, not treating the trading as some sort of work that lazy people do. Trading is a business and a full term business of some whales

Thanks for the idea and also i can apply this to my self. You have said that the part time traders that only used limited time is difficult and this is also my problem, from work i spend 12 hours of work and when i got home so tired, so i need to rush Checking my buy and sell orders. because i need rest earlier from tomorrow's work. i think i need to arrange my plan before going home to do trading faster.

very good. I can recommend it to my friends

To be a successful part-time trader you have  limited time since you cannot invest all of your time in the numerical analysis so you move on the top new, the only news you study is the news of the cryptocurrency world and how global political policies are changing with respect to quit

Successful traders have learned a lot and they have a lot of technical analysis skills. Then they traded the day in robots . This does not take much time and is profitable.

Actually, those people who are just part time traders might have a work in the corporate world and they will only wait for the right price before trading and in that way they can make more good decisions.

The only secret to make money in here is just to be a patient guy and do not be an anxious one who want to make $1000 on a daily basis, that is not possible at all

The points the OP makes are very good but I have always believed there are no secrets when it comes to almost anything, what you need to do is to work hard, there are many people that try to become traders but they do not take the time to study books about the subject and as such they fail, if people dedicated as much time to their trading and financial education as they do to watch TV or to check their social media accounts we will have a lot more millionaires in this forum.

in any case, to begin with, it is necessary to use both practical and theoretical studies at the same time. Thus, a small start-up capital and simultaneous study of information will give a more or less better way of learning how to trade on a crypto exchange.

The secret is simple - buy at right time and sale at right time. But this will need a lot of experience, so it is very hard to imagine, that first time trader can make profit each month without losses. Therefore trade practise is the only tool to make some stable profit in future.

Joining a community or more is essential for success in Crypto trading. You will get to learn from others and receive signals also. The points you've raised are noted but emphasis should be made on learning and practicing the skills you've learned in Crypto trading. No one becomes and expect or successful over night. Patience is needed, consistency and the passion to surf even in an unfavorable market conditions.

 For me the secret of the successful part time traders are they are experience well how to deal to the flow in this kind of business because they are learn from their mistakes and use it us advantage.

Patience and knowledge is the main key to be a successful trader of cryptocurrencies, if you don't have these characteristics then there is a chance that you may loss your funds.

Study, study and study, if a person want to become successful in trading he need to have good study about the market which can insure his success in trading, but if a person is only depending on his luck for success, then trading can be consider as more risky way than gambling. You need to get the opinion of expert people so that to take a right decision in a right time.

I agree with all of these methods..self-studying and learning from others are the greatest way to find good strategy to use when trading..but one problem most of the traders encounter is,how to apply it when they are doing actual trading?all those knowledge and strategies will be overtaken by emotions,fear or greed will be the one taking over our minds and this is what i see the big reason why many of us suffering big losses in trading..

So,i think learning to control our emotions would be a good addition to these methods to help us become a good or even a succesful trader one day.

Yes a part time trader can get that big amount of profit but it is not going to be easy. I believe that the knowledge on how we are going to do trading is very much available but it requires time and effort for us to understand. We may understand but there are people who experience problems executing and planning how they are going to gain profit.

We can be traders but we cannot be all successful traders. I don't know if there really is a secret to be successful in this part but what I know is that some people are able gain what others can't because of knowledge, strategy and skills.

A part time trader can get maximum profit in a very little time interval if he has the knowledge of the market to put the decisions on time and to act accordingly. Trading at day time is the same as trading at night time because the system is open service and all you can do is to make decisions either in day time or night time. Trading will payoff if you follow the market rules regardless of the time.

Well, I guess That's all True that is the secrets of being professional in terms of trading or cryptocurrency.Yes, Im not a professional trader for now but i hope soon i will  be. And as this passage says "time is the key. Time management is an important skill for traders, especially in the early stages" We must manage our time in trading especially when we have our current work. And when you are on early stages, of course you need more time to know more about bitcoin.You can read or you can ask a question to those people who know more about bitcoin.

Yes, We are not a robot we need rest. So that , Give our self a rest and vacation that is the important . Trading is not easy we need to think and use our brain in here.

it seems that suitable to be the main key to success in the world of trading is you must be able to control your patience and you should be able to not easily affected by bad news.

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

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.

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

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.

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.

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.

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

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.

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.

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

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.

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.

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!

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.

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.

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.

The secret of successful part-time traders. 

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

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

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.

Everyone must have their strategies of earning in here, whether it is for time management and financial management. For me, the most important thing here is to do our own research. I was once a newbie trader and I am not saying that I am a pro now but for the past year and months, reading had helped me survive in here and in trading. There are people who thinks that earning bitcoin is that easy when the truth is nothing comes easy in here. We do hard work in order to earn
money and like a job, we allot time and effort doing our best in order to comply with the requirements.

The secret is to manage your risks
Learn how to setup right stop-losses and how to find a good entrance/sell points and that's pretty much it
And of course, you should analyze your mistakes every time
But maybe it seems simple, but it isn't
There are a lot of theory and practice here

Being at your job doesn't mean much since people have their smartphones with them to either just monitor or trade the market. This market is too interesting financially to just put it down for a while for a trader.

Being a part time trader doesn't make much of a difference here since it's all relative. I am no longer that active as trader, but when i was, it's not as easy as it may seem to just ignore the market as you say.

Cooling down, to use your words, may turn out to be the loss of a great opportunity. People just need to accept that everything that's active and involves money is stressful, especially if you have certain life targets in mind.

Trading is less stressful for those who don't really need the money because they already have plenty of it. Missing out on one opportunity won't be felt then.

Good points OP. I believe that the secret of successful part time traders is experience. Through it, they were able to estimate the time needed for them to analyze and execute a trade. Even though they have limited time, they can still do what needs to be done because they know and understand what they are doing and you can only do so through experience.

I do believe that the aim of part-time traders is to be a full time trader someday and for the time being, he needs to jumble all the things he needs to do like doing his job, having time with family and trading even if he has little to no rest. He sacrifice time so that he can have as much free time as he want in the future.

The good thing about doing it as a part time is you can somehow cool down when you are at your day job. Letting the trade go for a moment to let the orders be filled.
You wont be wasting too much time buy just refreshing or looking at the price over and over every 10 seconds. That is somehow stressful so better do it just only with spare time.

I greatly see myself in your list, I am not a pro trader that's why I'm not closing my door to new strategy and techniques in trading. For me the best thing I do is monitor the market on when to invest and trade.

You well sum up the rules that every part time trader should follow. Another important point to me your commitment. It's really important to try working on it on a daily basis.

You will hardly find so many traders who are busy in doing trade and that too at time when they have some other business or job to do. The only reason behind that is it is very much difficult for anyone of us to do trade and that too for such a short period of time. it is not a wise idea to do trade just for the sake of fun as this won’t help you in making some effective earning and that to make some better earning.

The key for treaders ia only patience and mental health. If you have good mental health you cant get panic fast and you will clearly see the big picture of movement. After you can see the movement you can analize where the market could posibly move.

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 think its not a quite easy for being a part time trader. those people who want to be part-time trader should be an expert in chart analysis
because a new trader can't hold themselves to not see the market everytime.

and also, part-time trader is usually most of their asset are just for long-term investment.

That's right it is both suitable for a full-time and part-time traders, most of the traders have their own jobs and businesses that they need to attend and it's pretty tough to make up with those routines if you have to monitor the flow of the market regularly cause your going to buy low and sell high or it needs to hold for a while cause it is more beneficial, Time management is the key to utilize both trading and daily activities, you may have to consider the crypto that you want to trade and it also falls for the research part, failure to determine may end losing your capital, so diversify the right coins.

I believe these two suggestions really cut the learning curve. I suggest all people take it seriously because it will make a big leap ahead for us. Especially the third option, A mentor is a really valuable person once they willing to help us, they will definitely share his/her a long tedious and steady experience to help us to be better.

I agree, and it is more practical to buy and hold for many years than to do day trade, day trade is much more risky, which is why I prefer to buy and hold for years, I see it as a retirement


but it is not so simple to make this plan, the market is volatile and we have pump and dump groups, we have regulations, we have several problems that can cause the price to drop suddenly, so creating a plan is not an easy task


well, people should do their own research before investing in anything and should develop their own strategy based on their own needs and objectives

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.

I agree with you on the indexes above.
But I think you should refer to the market before researching into something

I think that the second and the third paragraph are connected, because a profitable trading strategy should be depended on the world economic information too. Moreover, the world political news are important for prediction the price of crypto currencies.

There are many points that a traders should consider in order to be successful. As there is time shortage in part-time trading, one should manage his time effectively. He should study the market trends, technical analysis, graphs and charts carefully. But in order to become successful in something one needs to have adequate experience in that field. Similarly in part-time trading, expertise comes with some experience.

Yes true,time management matters in order to reach ones goal,  despite of our busy schedule ,if we know how to manage our time properly then it makes our work easier and comfortable.

If you are a part time cryotocurrency trader you can't have much engagement as full time traders do so the chance of losing or gaining the money also less.But what I have tried to say is skill is important to stay in this field.
But we need to do crypto trading as our part time job onky we need to have something as our primary income because the earnings from cryotocurrency is not stable.

On general means , knowledge and skills would always be the key to success either on part time or full time but we know the difference of skills will really be there. The more engagement to trading the more capable he is on the actual scenarios that do happen into this very volatile market unlike on part-time which do have lesser.All necessary things to succeed into this field is the capability on adopting situations.

In addition to that isTime management also, if you know how to use your time accurately and focus on what you are doing, then you will achieve your goal, just concentrate.

Part time or full time the skill is the key to make money if yiu just doing trading without any knowledge or specific plan then he can't be a successful trader.So the one who do trading with all the strategies known then he will be a successful trader but mostly lart time traders are being successful due to the luck.

In my life, I am learning something and that is to don't just rely in your own knowledge, or that you don't need to keep things secret you must at least share your knowledge to people, we are just so thankful that there are lot of successful traders who are trying to help newbie without expecting in return, so we should give back after we earn to at least share our experiences too.

For those who are really willing to learn, there are tools out there available in the internet and some members of this forum are also willing to share their knowledge without expecting in return, we just need to at least devote our time in doing things that we want and will make change in our life.

Yes these are the points which makes a trader powerful but these are not to call as secrets but we can call it as tips for success in trading, as long time traders knows the real benefit of holding for long time so the same way if we will not sell our bitcoin it will get your money higher, to me it is very good and important not to lose your patience while using bitcoin, don’t lose your hope in any conditions as time changes very fast don’t leave bitcoin one day you will become successful for sure.

We need to have basic knowledge. Do not think of it as easy. This is a potential but difficult field

Great! It is a useful job in your spare time
  I can recommend it to my friends

Hi OP that was a nice list. Parttime trading is another good source of income. Specially if you know what you are doing and the market is in the bull run.

I have a community of alt coin traders, but what happens is disputes and some sort of greed. just a kind of forum to share a signal with some friends it might make sense. but large communities do not guarantee success in trade. because everyone has different characters and different trading styles. Maybe in forex community is very important, I do not know it and not interested in forex.

I am really curious about if there is a trader made more money than that a very long term hodler made, I would like to hear from him about this issue. I think it is not simple as it can be explained by certain points. If you hold a coin that rise in value in the long term like btc, there is no a kind of mistake you can make but if you trade btc, there is lots of mistakes you can make even it goes up.

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.

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.

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.

         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.

         2. Maximize your transaction time

As mentioned, time is the key. Time management is an important skill for traders, especially in the early stages. In addition, you must have a specific plan to improve your trading skills such as review charts, backtest tools, and tracking basic economic information to make a critical analysis. Even in the bear market, maybe all it needed is to sit down and do those things above because you would not trading anyway. Be patience and chances will come.

       3. Improve your specialized knowledge

Because your transaction time is limited, you need to gaining trading knowledge and experiences by reading a book or consult an expert analysis.You need to build scripts for your strategies from different perspectives and always control your emotions when making forecast.

     4. Keep your head cool

You are not a robot and you cannot follow the price chart 24/7. If you miss a chance, lets it be and move on. Trading is long-term and opportunity is one thing that market never lack of.

      5. Join the professional Forex community

Due to the popularity of Forex forums, you will not be alone in trading. Take time to participate in forums and learn from professional traders. They may point out things that have yet known. TraderViet.com is a great community. Definitely check that out!

       6. Clear trading plan

A trading plan can maintain a relaxed and prepared state in trading. As planning ahead, you will likely to have a wider and further vision of the market, wasting less time on monitor price charts. It helps keep you calm and abides by the rules you set. A complete trading plan will help you accumulate more profitable and faster on the way to becoming a professional trader.

That’s all of my secrets, what do you think?