In trading it’s very important to manage your time well. For instance, say you were still learning the basics of trading, it would not be useful to you to spend hours on the charts because you won’t know what you’re looking for. Of course you can still play around on them as I believe it’s important to understand the user interface of your trading platform, but if you don’t understand how price moves and what you are looking for then it would be more beneficial to you to watch some videos about trading, set up a trading journal or find a mentor that you will use to learn their strategy.
When you go to buy something what do you buy it with? MONEY! But what if I told you you didn’t spend money but you spent time. When I go out and buy things I think about how many hours it has costed me to get this. Using this mindset you can analyse whether or not you actually want to buy this item or if it’s not worth all that time you spent.
Just add up your hourly rate a your job until you get to the amount of the item and see how many times you had to add it up and that’ll be the amount of hours you spent to afford it.
Motivation and time
If you are thinking about giving up trading or whatever business you are currently developing to go back to your 9-5 then you need to hear this:
You can spend the next 50 years of your life working 5 days a week 8 hours a day just to afford to live or you can grind these next few years, work as hard as possible every day, every night to then spend your next 50 years doing whatever the hell you want. Don’t tell me that doesn’t sound like a dream come true.
Work and time
Does anyone else find it difficult to learn how to start a business or trade when you have a 9-5. I do. But I have enough time to trade and learn while working. This is how.
Before work every morning I do my high time frame analysis. Then while I’m working any chance I get to check the charts I do. On my breaks I have the charts open seeing if it’s giving me an entry. And when I get home I review any trades I took, collect some data if it’s still London session then I could potentially take a trade if I haven’t already. This is just 1 example on how I manage my time.
I suggest if you’re struggling to plan out your day then write it out on a calendar or on your phone as this is what I did and it helped me a bunch.
You can always gain more money but you can never gain more time
The futures trader 