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How To Be A Part-Time Trader

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Today’s article, we’re going to talk about tips and techniques to help you trade and learn to trade when you’ve got a full-time job.

I’m gonna talk about learning how to trade, learning how to profit even though you’ve got a job, you’ve got a family, you’ve got school, maybe you’ve got all three of these things.

You can be successful as a stock trader even though you have other commitments. For many years, going back to when I became an active day trader in 2007, 2008, I was a part-time trader.

I had a business. I had, at the time, a young family. My kids were toddlers. I was a business owner. I had 20 employees, over 10,000 customers. I made it work. It can be done.

It’s not easy, you know nothing worth having is easy, but you can trade as a part-time trader with a full-time job, but you have to focus your priorities and you have to be looking at the right stocks and the right setups, and obviously have the right tools.

So, I struggled to kind of refine this process, it took me many years. I was a part-time trader for about seven years until I sold my business and became a full-time trader. But it took way, probably way longer than it needed to, because I didn’t have something like AnjayToTrade, which is the one place to go to research these stocks, and shorten my research time and maximize my efficiency.

I mean, if you’re going to work at seven, eight A.M., gettin’ home at five, six P.M., then family time. Maybe you got a couple hours at night, a couple hours in the mornin’ to try and research stocks. You can’t be wasting any time. There’s only so many hours in the day.

We all get 24 hours, but the part-time traders that maximize their profits are the ones that are most efficient. Check out AnjayToTrade, You can use it fully function.
We’ve got videos on our YouTube, as well as AnjayToTrade University to get you started. It can be done.

Now, now that I’ve told you it can be done

Where do we start? Where do we begin? You’re gonna look for a very small subsection of stocks. You’re looking for charts, plus news, plus technical areas, plus hot sectors.

So, what are all these terms?
I’m gonna break ’em down for ya. First of all, you’re gonna run your scans on AnjayToTrade and you’re gonna look for stocks that are closing strong on the day, near the high of the day. Ideally stocks that are closing near 52 week highs, two year highs, maybe five year highs.

Now, you’ve got a basket of stocks that have the momentum we’re looking for. We want momentum. We want a lot of buyers. We want a lot of traders in these stocks, because then they become a self-fulfilling prophecy. If everybody want in, the price is almost always gonna go up, barring any bad news or some sort of market event.

So now we’ve got our scans run, and for me, I did this at five in the morning, even when I had the business, so you can do it late at night. I recommend doing it outside of market hours. If you’ve got a job, focus on your job.

You can’t be losing your job and hoping to day trade if you don’t have the skills built yet. Focus on work through the day. Spend your off hours researching, tracking, and planning these trades.

So now I’ve got my technical setups based on our screeners, now I’m gonna dig into the news.

Why did this stock move?

If there’s no reason, remember a lot of stocks, they get promoted, they get pumped, they have chat rooms, Twitter pumps, all these things that randomly move stocks. We don’t want random moves as a part-time trader.

Random moves tend to spike, fail, you’re at work, you didn’t know the stock failed, you’re stuck in it. You want stocks that are moving based on some sort of catalyst. Could be new, could be a contract win, could be earnings.

Again, if you are a part-time trader, full-time worker, there’s four earning seasons a year. These are roughly, roughly one month periods where stocks release earnings. These are the times you focus on trading. Focus on earnings four times a year. That’s a quarter of the year that you could be actively trading.

Focus on your job outside of that.

Look for earnings winners at key levels, and then you wanna find those stocks in hot sectors. That is the best way to maximize your potential for success. And then, really drill down.

Trade as little as possible.

You’re trying to build skills, you’re trying to build your account to prepare for that day. I mean, the ultimate dream for everybody is to be that full-time trader, but if you’re not building skills, if you’re overtrading, if you’re trying to do all these different things. Forex, longing, shorting, options, trading cryptocurrencies.

If you’re trying to do a million things, you’re never gonna move yourself into that group of traders that are consistent and profitable over time. Dial in on earnings winners, dial in on contract winners, look for stocks at key levels breaking out on those multi-year highs, and then trade those stocks with a disciplined risk to reward.

You can use orders that allow you to trade through the day without having to stare at a computer. You can also do it on your phone. Now, depending on what job you have, if you’re driving truck, please don’t sit there and try and trade on your phone real time. Stay safe out there.

But if you can’t trade on a phone or look at stocks during the day, you can use stop-limit orders, stop trigger orders that allow you to fill your stocks at your levels. Write that plan. Your entry, your exit. Learn these orders. We’ll do future videos on order types. You can also Google ’em.

But you can have the orders that get you in that stock at the price you wanted, get you out at your goal, and take you out at your stop-loss.

So, in summary, it can be done. It’s really hard. It took me a lot of five A.M mornings, but in my opinion, if you’re not willing to get up and do that work at five in the morning, your odds of success are so much lower.

Or you’re doin’ it at 11 o’clock at night after you’ve put the kids to bed. But if you truly want it, if you want that freedom that comes from hard work, you put in this time, you show up every day, and that’s what it takes to be a full-time trader in a year or two down the road.

We really wanna help you learn, grow, and evolve and become a consistently profitable trader. We’re proud of the tools we’ve built in AnjayToTrade and wanna help you maximize your success. Be sure to check out the other article.