❓ How To Trade Forex When You Have Full Time Job ❓

Hello traders, how are you? Vladimir here from Traders Academy Club, and in this video I want to talk about a subject that I was asked to talk about from one of my viewers, one of my followers, Cesar, and this subject is how to trade forex for those who have a day job. For those who work and don't have the time to follow the market during the day too much, okay, and their participation is limited. So before I dig deeper into that, and first of all, I'd like to thank you, Cesar, for bringing up this subject. This is a very important subject, I believe, for a lot of traders, and I have several very important inputs to share here. And that's why I record this video. It's also my opportunity to ask from all those of you, if you have any subject you want me to cover, you want me to talk about, and of course if I can, because not every subject I know to talk about, but if I will be able to help, I'm more than happy. Please share your thoughts, share your views in the comment section below. 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I would very much appreciate your help, um, with that. So thank you very much in advance. So let's begin. What to do for those who work? Okay, and let's admit it, it's most of us. And it doesn't matter if you are working at some company or, or if you are running your own business. What matters in that case, from my point of view, is the fact that you are busy, you are not available to babysit your charts— like, oh, babysit, right? Your charts, you don't— you're not able to follow the screens all day long. Okay, what to do? So the first thing I always bring up in my, um, in every opportunity: be aware. Awareness is your number one, your number one thing. What do I mean by awareness? Be aware of your availability. Be aware of what you have in your hands. What do I mean by that? How much time do you have available? Okay, all your responsibilities during the, during the day, during the week that you must take care of. Okay, all these little things, they limit you from participating in the market. Now, Why it's so important? Because if you're not aware, what you are trying to do is you're trying to chase the market, okay? You're trying to steal a moment here, 2 moments here. You know, I saw so many people going in a restaurant, then on the phone, let me just check one, this candle, or let me just check that. There's nothing wrong with that, but try to do something you can't, uh, try to You know, there is in Russian, there is like a saying, try to hit 2 bunnies with one shot, or 2 rabbits with one shot. I'm not sure if it sounds good in English, but the meaning of that, don't try to catch and do 2 things at the same time when you can't give your best in both of them. Okay, and this is very, very important. That's what I call awareness. Be aware of what you have. So this is the number one thing. For example, let's assume you wake up early, you do your workout or whatever it is, your preparation for the day. So you have X time, 10 minutes, 15 minutes for the day, okay? You have some hours or again minutes in the evening, and that's all, that's all you have. So why it's important? Because you understand that during the day you are not available to— so to go and start trying to trade the 15-minute time frame or even 1-hour time frame on the hours that you are away does not make sense and would not make you success. It would only make you fail. As simple as that, straightforward. And the reason for that, again, not because of you, you do nothing wrong. It's because if you can't provide a real focus, concentration into something you do, the chances you will do it successfully in everything in life, not just trading, drop. And trading is very important because, you know, if you don't pay attention, you pay money. Straightforward, very simple. So the first thing is again being aware. and being aware mainly of what is available for you and what is suitable for you. So for those who don't have the time to trade, there are solutions, there are techniques that are built for hold, okay, buy and hold. So trying and participating in shorter-term trading when you can't participate in the short-term trading but you do want to, it's a recipe for failure from my point of view. I might be wrong, you might disagree with me, of course. That's how I see these things. So I would personally recommend just stick to the higher time frames. It doesn't mean monthly and weekly chart, no, you're not investor, but, uh, 4-hour or even 1-hour, okay, but in specific hours that you are available, and the daily time frames. That's pretty much your combination. Now, to trade, uh, technical strategies that require you to be there and follow for a specific level to be reached, a specific candle to be closed, for example, it's not a strategy that is good for you. Strategy that could be good for you in such case, if you can't dedicate yourself, uh, during the day, is, uh, use levels and breakouts. Okay, so a level to hold, for example, or a specific level to be broken. If it's trendline breakout, uh, if it's a horizontal level breakout, if it's range breakout Okay, that could be the strategies that will make sense to you. Okay, and again, awareness. You understand your, your limits. What are your limits to do to participate in successful trading? And that's what you are looking not to do. Okay, the second thing is understanding your strengths. Okay, and understand your, your personality. Because what do I mean? Some, um, because if you don't have the money and you don't have the time, then how can you still make money, right? So again, it's awareness, but it's also your personality. If you don't— if you just have $5,000 account or $1,000 account, how are you going— how are you going to make money? So first of all, there are solutions. The first thing you need to prove to yourself mainly is that you can be consistent. If you are consistent, there are enough companies today that allow you to participate in exam, and if you pass this exam, you get funds. Okay, uh, this is the number one thing. Second thing, if you don't want that and you still want just to trade with your own money, then you should understand that with no money you can't make a lot of money, especially if you can participate in the data, the day trading, right? So your, uh, um, your winning, let's say, not accuracy, but winning, um pace or growth pace would be also limited. What do I mean by that? If you have a $1,000 account, for example, but you have to wait for a 4-hour chart to reach a level or complete a breakout on a specific trend you follow or reversal you follow, then it will take time and it might happen this week or it might happen the next week. So this understanding is critical. Why? Because You know, in order not to get disappointed, don't get yourself into the wrong, um, expectations, right? So don't say, okay, this week I have to do 10%. No, if you can't follow the market during the week, maybe the market is not going to move so much during this week. Maybe it will be next week or maybe next month. So it's very important to understand that you can't because you want to make the market move and pay. So your understanding of your personality, your characteristics, your limits, your awareness, all these together, it's very, very important what you have, what you prefer, what you feel comfortable with, and on the same time what's logical. Because you don't make money by wishes. I wish or I want— no, you make money by real participation in buying and selling, right? Ideally, of course, in the right direction. But that's it. It's very, very important thing to understand. So with all these limits, what are the solutions. So there are several solutions. Solution number 1, follow different services. Maybe the right thing for you is to follow some sort of signals or some sort of analysis. Okay, look for someone's analysis, uh, look for some channels that help you in that, some services that point you up in some direction, and then apply your strategies into this direction. That could be a time saver because you don't waste all the free time you have in really analyzing the market fully, but participating and placing orders. It doesn't have to be market orders, it could be also pending orders. Very important thing to understand. Other one may be the right solution for you is, again, as I said before, to stick to techniques that are on the higher time frames. And, uh, in Psytraders Academy Club, for example, those of you who followed the Academy Club Inside the members area here in the media zone, you have plenty of these techniques for the longer-term trading, the 1-hour, the 4-hour, the daily charts. It doesn't have to be 15 minutes, okay? This is a wrong understanding by traders that in order to make more, I need to trade more. No, no, no one guarantees if you will make more actions, they will be all winners, right? If you trade 10 trades, 5 winners, 5 losses with the same risk ratio, 1:1 risk reward for example, you would break— you finish break even. And if you have one good trade running and paying 1:2 risk reward, you would finish with 2% profit. But there is no guarantee that if you do more you actually earn more. I hope you understand that. So, um, if you're not part of Traders Academy Club, I show this screen on purpose so you see that everything is available for you inside. You can learn these techniques and choose which of them could be applied for you, for your, uh, for your comfort in that area. Okay, if you are building something on your own comfort with your own strategy, then pay attention to these things I mentioned before. Okay, awareness and mainly comfort. You must feel comfortable with what you do, with the steps, because, uh, for example, watching for candle patterns— if you can't follow the screen during the day will not fit you. As simple as that, right? Watching for a specific pattern during the day would not fit you because you are not there to watch, okay? Uh, multi-timeframe analysis— sorry, multi-instrument analysis would make more sense to you because you're not wasting the time during the day, so you have to focus on only one instrument. Okay, you are multi-analyzing different instruments. So for you, there will be more instruments from, uh, more, uh, with more opportunities, right? More instruments, more opportunities. And you don't need to babysit them because you have specific levels or specific breakouts you want to follow. Okay, so of course, that's just some of the ideas that, uh, make sense to me. Um, and, uh, it's very important, again, you understand with what do you have in your hands. I, I have a lot of members who carry jobs or running businesses and they still day trade because they can. Their jobs allow them to check every 15 minutes, 30 minutes, once in an hour to check their screens. It doesn't have to be for 1 hour, it could be for a few minutes, but to check what's going on, okay, and participate more. So again, you know, Uh, it's very important to understand these things. For example, you can't, um, do— let's say, um, you can't go and run 5,000 kilometers— so 5 kilometers, 5,000 meters— you can go and run 5 kilometers, for example, if all you have is 15 minutes free time. Makes sense? Uh, you can't go and fly for a vacation for, uh, for a month if all you get is like 5 days free. So again, it's very important you understand your limits, where you are, what are your availabilities, and out of that build up into your profile, uh, the strategy that you feel comfortable with. Again, I just mentioned a few ideas. But again, it's you with yourself testing, testing, and testing, and testing, backtesting, forward testing until you find this something comfortable. And I want you to remember one thing: there is no holy grail, there are no shortcuts, and there are no magical solutions what strategy would be best for you. Nothing can be better than really going through the process and finding out, testing and testing and working and practicing. Nothing. And whoever tells you there is a shortcut or this strategy is guaranteed to work for you is lying. Nobody can guarantee such things. You need to find this comfort and you need to work hard to find it. And it's very important you understand that so you don't, you know, make any illusions for yourself. And you don't find yourself starting and then quitting after, after a month or after 2 months, okay? Because if that's what— if you're not, uh, 100% sure about what you are going to do, about your specific plan and how it's going to be achieved, better don't start. If you plan to quit, then ignore, don't even start, okay? But if you really are ready to make it happen And find your place in all that. There is nothing wrong with working out or having a business. Who said? You just need to find your trading style into that. And I, as I gave you a few ideas, maybe they will work out for you, maybe will not. Okay, but you have to do that. You have to do this process. And remember, if you are ready to give this effort, then nothing, no other time is better than now. Don't tell yourself, eh, One day I might do that. Okay? No, not tomorrow, not in a week, not in a month. Now. Whatever is your availability, if you are serious with that, go and do that. Go and do that. Okay, there are a lot— most people are busy. Parents, responsibilities, business, job. Life is so busy nowadays, right? Life is so busy, so don't do something you can't. You go— you don't book tickets for vacation for a month if all you have is 5 days free from your work, right? You don't go to— you don't drive to a supermarket which is in different city if all you have is just like 30 minutes free. All you go is to some convenience store and buy whatever you need now. Okay, maybe that metaphor is, uh, doesn't make sense, but I'm sure you understand what I mean. So that's pretty much it. That's what I, I hope it gives you a little bit perspective and you understand, points you out in some better direction, uh, what's right and what's wrong. Uh, and, uh, the, the, the wrong is to try and to do something that you can't, to try and to be someone else. This is the, the worst thing to do. Okay, uh, that's it. I hope you— I hope it helps. Uh, once again, sorry, once again, Cesar, thank you very much. for bringing up the subject. I hope my input makes sense, okay, and point out to the right direction. I wish you all the best, of course, and so do I for everybody who watched this video. Once again, if you have any requests for a specific subject and if I have my inputs and something to share, I'll be more than happy to do so. Please share with me below in the comment section and I'll be try my best to help you out. Thank you very much for your time and stay safe, be well, and good trading. If you have any questions, drop it down in the comment section. I'll be more than happy to answer. Cheers. See you soon with more videos. Bye.