Integrating Trading Into Your Lifestyle

Discuss With Us: http://www.informedtrades.com/524725-understanding-how-trading-fits-into-your...

As the next piece in my course on the method I use to trade, I wanted to share some thoughts on Lifestyle Integration. By "Lifestyle Integration," I mean that your lifestyle is designed so that you can watch the market and trade in the way your strategy requires. Understanding how trading fits into your lifestyle will help you establish trading discipline and find a flow -- which ultimately will help you execute any strategy you utilize, and make task of trading easier psychologically.

I think a good starting point when discussing Lifestyle Integration is to define how and when you can allocate your time to trading. Here are examples of what I am referring to:

1. The Daily Trader. This individual works a full-time job during the day. He/she is not able to trade during these hours, but can find time in the evening.

2. Peak Hour Daytrader. This trader can commit a block of time each day to trading, and does not want to hold positions overnight.

3. Trading on Weekends. This individual leads a very busy life, and can focus best on trading during the weekends.

4. Adapt to the Market. Some may have a very free-form lifestyle, void of many rigid time restraints. These individuals have the opportunity to adapt their lifestyle to the market, and thus can develop a lifestyle designed to maximize profits from the global markets.

Lifestyle Needs to Accomodate Entry, Management, and Exit

There are three aspects to any trade:

1. Entry strategy
2. Trade management strategy
3. Exit strategy

The lifestyle of every trader needs to be compatible with all three components of their trading strategy. One key question to ask: does your strategy require you to re-evaluate the trade after each candle for the duration of the trade? If so, can your lifestyle accomodate this?

Personally, I like to employ multiple strategies that fit into multiple lifestyle routines. For instance, one trading account I have is monitored in the evening each day; another is monitored only on weekends; and still another is reserved for active intraday trading, when I see the opportunity present itself.

Technology as a Lifestyle Aid

If you have found a strategy you are comfortable with but are concerned about the ability of your lifestyle to fit in with your strategy, you may find some technical tools to be of relevance. Specifically:

1. EAs. EAs are programs that can help automate the trading process. If your approach to trading is based largely on mathematics or visualizations, it may be easier to automate. If you are interested in learning more about this subject, our automated trading courses in InformedTrades University may be worth your while.

2. Alerts. If your trade management strategy is contingent upon market volatility, alerts that email or text message you may be especially useful.

As a general rule with technology, the extent to which your trading method can be translated into numbers/mathematics is the extent to which it can be automated. By extension, the degree to which your trading strategy is rooted in technical analyis is the degree to which it is quantifiable.

Practice Trading: http://clk.atdmt.com/FXM/go/175518313/direct/01/

Category:

Education

Tags:

• lifestyle
• psychology
• trading
• daytrading
• forex

[rosmer00]

@bbttk thank you that's all i needed to hear. that was my point in the first place. "higher" education my ass.

[bbttk]

@rosmer00 lol you're whole argument is a cheap justification. you sound like you are an average person who went to an average school and got average grades and now lives a below-average to average life. dont point your filthy finger at those who worked hard to be where they are at. i personally had to work 2 jobs, rely on scholarships to attend princeton to be where i am at today. so yes, fuck the rest, because while i studied and worked my ass off, they were all out partying.

[rosmer00]

@bbttk " except be in a better financial position.." LOL yea.. 95% of traders losses all , the other 5 takes it all .. look out the fucking window and see what i mean. CEO`s making billions for the banks, and millions making their homes with cardboard. i but hey who cares as long as you are fine..again ..fuck the rest hu? i mean why don't you just say it and stop babbling cheap justifications? say it ..."FUCK - THE - REST" .. "the american dream" WAKE THE FUCK UP.

[bbttk]

@rosmer00 go cry some more. if a minister/priest sexually abuses a child, do you damn the whole religion and all of its participants? when a teacher is caught taking bribes from a student do you damn the whole education system? you seem quite content at point fingers at others who have done nothing wrong, investing and trading isnt unethical. whats unethical is your abuse of the internet to damn people who have done nothing wrong, except be in a better financial position than you.

[lifeisaliewithoutaf]

damn i would hate to trade on the weekends how does that even work....the markets arent even open...

[AHOYM8ES]

Duh, what is the purpose of this video? why did you waste your time and mine?

[rosmer00]

@bbttk "None are more hopelessly enslaved than those who falsely believe they are free." J. K.

[bbttk]

@rosmer00 go cry somewhere else, preferably by a tree during a lightning storm

[secret212000]

@rosmer00

Sad but true

[23withthemoneytree]

work hard play hard