Most traders work a job and trade the markets simultaneously. But there’s an unspoken issue – the most favourable times to trade are during working, commuting, and sleeping hours.
Let’s break this down:
- The average person wakes up at 7 am
- The average leave time for work is 8 am
- The typical working hours are from 9 am to 5 pm
- The average time workers get home is from 30-min to 1 hour
- The average person goes to bed between 10 pm and 11 pm
Now let’s look at the most popular sessions to trade:
- London session: 8 am to 5 pm
- New York session: 1 pm to 10 pm
- Sydney session: 9 pm to 6 am
- Tokyo session: 12 am to 9 am
The average trader working full-time won’t have the opportunity to constantly watch the markets. They’d only have free time once they’re home after work to trade.
Plus, their market opportunities are limited to the diminishing period of the New York session and the beginning of the Sydney session.
Then to make things worse, the markets are closed on the weekends. Now, the logical solution might be to trade crypto as it’s 24/7 but there’s an issue with that too — there is less trading volume on the weekends, meaning much fewer trading opportunities.
What can traders do to solve the trading-work-life balance?
There are two things:
1. Switch from scalping and day trading to swing trading
The full-time working lifestyle conflicts with day trading and scalping. Swing trading is the only method that won’t interrupt your work life and other commitments or activities you have.
2. Have systematic entry points to trade
This means using a metric such as price or indicators to make a trade. This simplifies your trading process also. But don’t you have to watch the market to spot the metric changes?
Well, no. Trading apps and platforms like TradingView have an alert feature to notify you of rules you’ve set. This means you can get a notification on your phone, quickly take the trade, and then get on with your day.
How to find good systematic entry points to trade?
As most full-time workers have the weekends off, you can use those days to research and backtest the markets. This also may take some time and experience to perfect a strategy that’s profitable and applicable to your lifestyle.
That’s why we created TradrLab.
It’s an idea-validating and backtesting tool that provides AI insights to assist you with decision-making and ultimately finding a profitable strategy.
When you get home or finish work, using TradrLab saves you countless hours finding the right strategy. What it takes hours and days to do manually can be accomplished in minutes with TradrLab.
TradrLab will also provide useful information such as the days and times when your trading setup will occur most and the optimal risk-reward setting.
TradrLab will be available in Q4.
Join the waitlist on our homepage: TradrLab.com
Stay tuned!