How to learn to trade in your spare time and become great at it. In this article, you will go over how you can learn to trade around your regular life, job, and other commitments. This is one of the most common questions when it comes to learning new skills, such as trading. But usually it isn’t down to time; it’s down to priorities. If it’s scheduled correctly, it doesn’t need to be overwhelming.
Prioritize, Schedule, Success
Now, for most of you, your current life is get up, do your morning routine, go to work, do your work, come home tired, eat, spend some time with your family or doing your thing and then going to bed and then getting up and doing it all over again. The only variable that you control when you get to work on your own hustle or your new endeavor is the time between from when you get home to the time you go to bed, and that’s it. But the problem is you need to be way more productive during that time or you simply won’t get it done. So here’s how you learn and develop to be the most productive during that time that you have. People typically sleep for seven to 8 hours every night and then they go to work for approximately eight to 10 hours.
Building a Trading Plan
Let’s say you commit to going to bed at 10:00 p.m. and getting up at 05:30 a.m. that’s seven and a half hours of sleep per night. Let’s also say that you start commuting to work at 07:30 a.m. and then by the time that you’ve commuted back, you get home and it’s 05:30 p.m. that’s 10 hours at work. So in total, you’ve spent 17 and a half hours of your day committed to sleep and work. Now, there might be times where you can listen to audible books during the commute. The fact is you have six and a half hours left to prioritize your life. When you get home from work, your priorities are usually between eating, cleaning, toilet, family, tv, computer, social media, phone, gym, hobbies or your trading and your new business.
Unlock Your Trading Potential
Now the question is, how do you prioritize the list and how much time do you allocate to each one? Well, instead of completely turning your life upside down, start putting a priority score on each of them and then allocating an estimated time against each of them. Here’s a starter guide to help you build these habits. One, set alarms on your phone. Get a big calendar and stick it up in your house and put reminders on your PC. This will firstly help you to start to stick to certain times and be more efficient and you’ll be shocked by actually how much you get done. Now let’s just say that you commit to learning to trade in twelve months.
Achieve Trading Success in 12 Months
Realistically, it’s going to take you twelve months and you’ll make the most progress if you follow this structure and accept these timeframes, because then you’ll fit them into your priority time. So do them in this order and commit to each of them. One. Learning the fundamentals that’s going to take you 2 hours per day for 90 days. Learning a strategy inside and out. That’s going to take you 1 hour per day for 30 days. Building a trading plan 1 hour a day for 30 days testing your system 2 hours per day for 30 days fine tuning your system 1 hour per day for 30 days learning a money management system 1 hour per day for 30 days demo trading paper trading 1 hour per day for 60 days live trading 1 hour per day for 60 days and then you review the system.
And with that said, you now have a template of how long I would suggest setting aside for each of these areas so that you can now filter it into your priority list without getting overwhelmed. And then you just commit to the process. You may not be the most profitable trader by the end of it, but you’ll be way more advanced and on your way than if you just keep approaching it in half measures with no direction or structure. Now, if you really don’t think that you can do any of this, recommend doing a time study. This is something that I do twice per year and it really helps you keep calibrated when it comes to productivity and doing things that move the needle towards your goals.