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RudyO

Investing While Working a Full Time Job

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Hey everyone, first timer here. I need some advice, lately I have been interested in future trading. Working a full time job I was looking for something to trade after work, I found that future trading is almost 24 hours. I started to use virtual trading as a way to practice. I focused on S&P 500 mini and only buy 1 to 2 contracts. I plan to start out with one contract if I ever go live. My issue is that the action happens during trading hours and not much is happening the night before till the early mornings. Anyway, although I got the hang of it, I find it challenging since I am unable to watch the stream line chart. I do use stop loss or trailing stops, but since I can not always monitor during my day time job, I find my self losing a lot of virtual cash.

 

I live in USA and on the east coast. I wanted to use 5,000 to 8,000 as a start.

 

I just wanted to know if there anybody work a full time job and also make small or large second income investing in futures, stock, options etc....

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Try to divide your time between job and trading. It is difficult at first, but as the time goes by, you will use to it. I have the same problem as you before, but I can manage my time well along with my trading time.

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One of your best possibilities might be to watch the Yen futures contract from about 830-930 PM Eastern. Many nights there is plenty of action there. You will often notice a pick up in activity right about 845, before the Chinese markets open. Some nights there is also usable volume starting at 7 PM when the Japanese markets open. Do some simulated trading for some time before diving in. In addition, when there are econ reports due, the Australian dollar can have usable action as well.

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There are a couple of approaches that might work for an employed person

 

First, assuming you are an "investor" and not an active trader, you can learn how to read the longer time frame charts and use options positions....this take a bit time...first to learn how the options work, how to manage risk and time frames etc....it can be done...you need to find the correct resources however and that can take some time.

 

Second if you decide that you want something more active you can trade intraday markets that are in session before and after work hours (as Qiman has mentioned)....currencies are just one example. Again you need to take the time to get fully informed and understand a bit about world markets.

 

Finally you may simply want to "invest" in stocks or bonds domestically or overseas. You can do this through a broker (I don't recommend it) but that is how some folks decide to invest...understand that your risks are significantly higher because the broker is likely to be unskilled and couldn't really care less about your account.

 

If you have the time, I think it pays to obtain a background, and choose a time frame that fits your lifestyle

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I would use daily charts and place positions based on break outs, since you can't be there, you would need to place your target and stop loss also (a bracket order), it may be possible to place orders for breakouts to the upside and downside (OCO?) but I have never done it.

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Don't worry by doing two things in your life. Coz I also still holding my job as a trader. In this way you can manage your finance very well. Also when you are lost in trading you still have something to hold upon.

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I think you should consider learning Options instead of Futures. Futures are primarily a day-trading vehicle, so if you can't do that then its tough to play that game.

 

Options are, on the other hand, a strategy game. You can structure strategies that are primarily based on time decay, and put trades that are way out of the money (OTM). OTM may not mean much to you at this point, and that brings me to the next point. Which is, Options have a learning curve, so you must commit to learning it first for about 2 to 6 months.

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There are a couple of approaches that might work for an employed person

 

First, assuming you are an "investor" and not an active trader, you can learn how to read the longer time frame charts and use options positions....this take a bit time...first to learn how the options work, how to manage risk and time frames etc....it can be done...you need to find the correct resources however and that can take some time.

 

Second if you decide that you want something more active you can trade intraday markets that are in session before and after work hours (as Qiman has mentioned)....currencies are just one example. Again you need to take the time to get fully informed and understand a bit about world markets.

 

Finally you may simply want to "invest" in stocks or bonds domestically or overseas. You can do this through a broker (I don't recommend it) but that is how some folks decide to invest...understand that your risks are significantly higher because the broker is likely to be unskilled and couldn't really care less about your account.

 

If you have the time, I think it pays to obtain a background, and choose a time frame that fits your lifestyle

 

I agree with your longer timeframe advice but dont think a first timer should start with options as they are too complicated for any new timer.

 

Investing in stocks or commodities for longer runs is enough, something that i do with a day job. Doing intra day stuff is useless anyway. More trades dont mean you will be making more money.

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There are a couple of approaches that might work for an employed person

 

First, assuming you are an "investor" and not an active trader, you can learn how to read the longer time frame charts and use options positions....this take a bit time...first to learn how the options work, how to manage risk and time frames etc....it can be done...you need to find the correct resources however and that can take some time.

.....

 

 

Hello Steve, I am interested in this. Do you know of any decent resources to get started??

 

Cheers.

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