The 2-Hour Trading Week: Earning More Than Regular Job
It took hard work to get here, now it is no work at all
Every Sunday night, as the kids go down to sleep and everyone else unwinds, preparing for the week ahead, I sit down for 30 minutes and look at the charts. This half-hour, coupled with two hours of trading each week, allows me to earn more money than I earn working a full time job.
My Trading Journey:
I started day trading almost 6 years ago. Initially, it was more about curiosity and exploring a potential income stream than about making a fortune. However, as I learned a few harsh lessons I began to make really good money.
Crafting a Solid Trading Plan:
The key to my trading success lies in a well-crafted trading plan. This plan isn’t just a set of rules; it’s a comprehensive strategy covering what to trade, when to trade, how much to trade, and when to exit. I spent countless hours researching, learning from seasoned traders, and understanding market patterns. I focused on a few key trading instruments that I understood well, rather than spreading myself thin over numerous markets. It’s a plan that works for me and my circumstances. Yours will be different.
Sunday— Analysis in 30 Minutes:
Every Sunday, I dedicate around 30 minutes to analyze the markets. This involves reviewing market trends, potential economic events that could impact the week, and identifying key levels and setups for my chosen trading instruments. This preparation is methodical and focused, ensuring that I am ready for the week ahead.
Discipline
Discipline is non-negotiable. I strictly adhere to my trading plan, avoiding impulsive decisions. This discipline extends to risk management as well; I never risk more than a small percentage of my trading capital on a single trade. This approach has helped me maintain consistency and protect my earnings, even when the market is volatile.
Confidence
Confidence in my analysis and decision-making process has been crucial. This confidence doesn’t stem from arrogance but from thorough preparation and a deep understanding of my trading strategy. It allows me to place trades without second-guessing myself, a key factor in seizing the right opportunities.
Patience
I never rush into a trade. My rule is simple: all variables in my trading plan must align before I make a move. This means sometimes I don’t trade for days, sometimes over a week. But when everything lines up, the probability of success is higher, and so are the returns. This patience has been instrumental in helping me out-earn my regular job through trading.
Risk Management
Emotions are a trader’s greatest enemy. I’ve learned to keep mine in check, especially when it comes to managing risks. By setting strict stop-loss orders and having clear profit targets, I ensure that I don’t let fear or greed dictate my trading decisions. This disciplined risk management has been key in protecting my capital and securing profits.
No stop loss, no account (soon)
The Results
The culmination of this disciplined, confident, and strategic approach has been remarkable. With just about two hours of trading per week, I’ve managed to consistently out-earn my regular job. This success hasn’t been overnight; it’s been a journey of learning, adapting, and staying committed to my trading plan.
I’ve done this for 5 years now.
In Short
Day trading, often perceived as a risky and time-consuming endeavor or even a scam, has turned into a lucrative and time-efficient income stream for me. It boils down to having a solid plan, being disciplined, and confident in your approach. While my method might not be a one-size-fits-all solution, it highlights the importance of strategy and mindset in trading. Whether you’re a seasoned trader or a novice, remember that success in trading is not just about the hours you put in; it’s about how effectively you use those hours.
I wish you the best on your journey.