Time Management With Trading And Trading Education

[Brendan Egan]

Time management is certainly a critical part to not only trading but also to your trading education. For example, the price action trading course is about 7 hours long now, and most people who buy the trading course watch it multiple times and refer back to it. So just viewing the course takes a great amount of time out of your day--then you have to sit down, study that materials, ask questions, learn, practice, and finally act upon everything taught in the course. This process takes a great deal of time and energy to complete successfully.

So not only does getting educated about trading take a good amount of time, but you then need to set aside time to actually trade. A full time day trader typically trades for 20-30 hours per week. Some traders do analysis outside of market hours for anywhere from 5-15 hours per week.

We can clearly see that trading on a full time basis takes more time than most normal 9-5 jobs. Now that is not to say that you can't swing trade or even day trade while working full time, because you most certainly can, and this just makes my point of time management being the key to success even more valid.

Aside from trading psychology issues, which clearly ranks number 1 on the list of problems traders encounter, I believe time management issues ranks in the number 2 spot. With trading comes a great deal of freedom--no boss, no set work hours, no set number of days off-- this is something I talk about more in the price action trading course. Most traders trade from their home or home office, where the number of distractions that exist are limitless. From family to friends, pets to telephones, tasks around the house to television shows--there literally are thousands of things that distract us at home that most individuals at an office environment don't have to deal with.

So finding the time and discipline to actually 1) get educated and 2) trade are two of the most difficult tasks facing traders. I know I personally still get distracted from the website and from trading throughout the day and it is something that traders need to constantly battle and overcome to find success in the markets.

[fxpro2]

Great point. I struggle with staying focused throughout the day working from home and it is something that I always overlooked. Maybe a better organized and focused workspace will yield better trading results.

[Brendan Egan]

Great point. I struggle with staying focused throughout the day working from home and it is something that I always overlooked. Maybe a better organized and focused workspace will yield better trading results.

It certainly does--I just posted a new blog post about trading environments so be sure to check that out as well:

http://www.123learntotrade.com/showt...nts-In-Trading