Trading the Forex market does not need to be a time-intensive activity. It is entirely possible to trade the Forex market while keeping your full time and job and hardly changing your schedule at all. There are a few things you can do to learn to trade Forex part time, let’s discuss exactly what it takes.
• Trade off the daily charts
By focusing your trading efforts on the daily charts you will be able to spend a short amount of time each day looking for your trading edge, this is of course assuming you know WHAT your trading edge is. If you do not currently have a definable trading edge that you could easily and instantly describe to someone else, you should learn about simple price action trading strategies. You can learn them from Nial Fuller, and as you learn forex with Nial Fuller you will discover that not only is he an excellent trader, he is also an excellent teacher and mentor.
Trading with price action setups on the daily charts allows you to simply check the charts after work each day. After you know exactly what you are looking for it will really only take you about 20 or 30 minutes to determine whether or not there is anything worth trading, then if you do find an obvious price action setup you just enter your trading parameters and then come back the next day at the same time to check your trade. There is no reason to meddle with your trades or sit there and watch them, just use set and forget forex trading methods.
• Learn a simple yet effective trading strategy
As alluded to in the above paragraph, you can trade the daily charts with a simple trading strategy like price action. There is no reason to over-complicate the process of Forex trading; all you need is a simple yet effective and easily identifiable edge to determine whether or not to enter the market.
• Have patience
Above all else, as you learn to trade Forex, you need to have patience. Patience is a virtue that will reward you many times over in the world of FX trading. If you want to trade part-time and focus your efforts on the daily charts, you will need to understand that there simply will not be a trading signal worth taking every day. Some weeks you might only get one or two signals that are valid and worth taking. But, since they are occurring on the higher-time frame charts, they will be higher probability; it is truly a case of quality over quantity.
Trading part-time is a blessing in disguise, because many traders end up spending way too much sitting in front of their computers staring at the charts. This leads to over-trading and over-leveraging of one’s trading account. If you have a trading routine that you follow each day, you are far less likely to fall prey to over-trading and over-leveraging. If you want to get a good introduction to the world of Forex trading check out this Learn to Trade Forex Introduction Mini-course.