Whatever you do, please do not quit your job to go day. Trade right away, keep your job and grow your small trading account slowly by following these three important criterias, so you and I must have had very similar situations. I didn't come from a rich family. I didn't inherit a trust fund and that's been real.

If I did, I wouldn't need to trade so in this video I'm going to be talking about the three important factors of how I trade a part-time while working a full-time job. Not only am I going to talk about the specific strategies I used personally myself, but, more importantly, how to manage your time and prepare yourself financially and properly allocate enough time and effort into building your small accounts trading part-time. As always, these videos take me a long time to make that's the time I could have spent cruising around in my Lambo. So if you don't mind, please remember to drop a like on the video.

I'd really appreciate you, my friends, so the first important factor we're going to talk about is time. When is the most optimal market hour to trade part time and, of course, the biggest question you're probably wondering how exactly do you find the time to trade part-time while working a nine-to-five at the end of the day, we all have the same 24 hours and if You want to squeeze in an extra two hours to trade before going to work or 30 minutes before the market closes. It all comes down to a very meticulous time management. What I did as a trader from the Pacific West Coast time zone is that I will wake up at 4 a.m.

which would be 8 a.m. market time. Then I'll use a time from 5 a.m. to 6:15 a.m.

to prepare my watch this. I didn't have any fancy scanners back then. So I just used Finn. This sock market watch in stock charts calm to do my free research and I'll also use a think or swim platform.

Scanner to scan for the pre-market gap errs if you're interested in seeing how I set up the free cap up. Scanner in thinkorswim then check out this other video. So after I prepared to watch this I'll trade from 6:30 a.m. to about 8:00 a.m.

focusing on long strategies, specifically at the open which we'll be talking about those specific strategies later on in the video and, what's so great about trading at the opening first 30 minutes Is that you almost always get an immediate follow through on your pre market Gabor's? Either some low float stock with reclaimed ad levels and break out on high volume and go parabolic or another penny stock will pop at the open and sell off on day two or day three, whether you are a long buyers, are short buyers trader the opening 30 Minutes to an hour is where you can make the quick trades and be done for the day and head out for work. Note I said quick trades, but not easy. So that's exactly what I did and you know most of the time I'll end up showing up 30 minutes late for work, but as long as nobody at work found out it's okay, I hope now my former bosses or supervisors are watching this, I'm not suggesting anyone To go to work late by the way, don't hold me liable if you lose your job, please do your job and keep your job, because you're gon na need a stable income in order to trade well on the side and during the day at work. Yes, I do check up on my phone once a while to see the overall market condition, but, generally speaking, I did not trade while I was at work and even if I do that, just to close the rest of the position I had already entered from the Morning and generally those will be the mid cap in the large cap stocks.

I never like to hold smoke a penny stock positions open while I'm at work, because there was just no way I can keep an eye out on any of the PR or stock price movements. Imagine if a penny stock drops a mid day offering, while you are on an important call at work or imagine if you walk into a meeting with wind on your feet, knowing that you're up $ 1,000 an hour later, when you walk out, you see that you're Down $ 3,000, I know you must be thinking come on now, humble trader. This must be one of your world-renowned bad jokes, but see, though that was a true story. Let me tell you for the rest of the day, making that $ 300 at work minute by minute, slowly for the next six to seven hours was not enjoyable and then truly affected, my performance and my full-time job.

So after that incident, I didn't want to take that kind of risk anymore. If I cannot fully concentrate on the ticker, so that's why I always made sure to either close my entire position or only leave a quarter of the size on whether you want to manage your full size position on your phone or on your desktop while at work. That's entirely your decision, of course, I'm just sharing some a tragic story for a much-needed reality check and, of course, besides trading the first hour of the market open. I also try to find time to trade during that last hour before the market closes and for me that will be 12 p.m.

to 1 p.m. local time, which will be lunch time for me at work and yes that did mean, I have to say goodbye to Socializing with my co-workers at lunch, and also the amazing gym and yoga sessions at work, but that's just the kind of sacrifice that you might have to make dream power hour, actually don't actively day trade. Most of the time I spend that hour researching on stocks. That's closing strong on a day in holding key daily levels, and I would sometimes take a swing position long overnight, I'd really day trade to empower our.

This is the basis of my buy overnight strategy, video, and this will be especially valuable, set up to the US traders who are under pattern day trader rule if you buy a stock with an intention of holding it overnight and sell the next day, pre market or At the market open that does not count as a day trade for you, fortunately I'm in Canada, so I never had to deal with PDT rule see this tons of perks of being Canadian. Besides the fresh air, the unlimited supply of maple syrup, expensive gas prices. Now I will say, though, this swing overnight, strategy is rather seasonal and the opportunities come and go depending on the market conditions, so don't expect to be swinging something overnight every single day, while at work there were some months of the year where I just don't buy Or sell anything during Power Hour, but the work doesn't stop there after the market closes. If you haven't noticed by now, this trading part-time, while working your 9 to 5 business, actually requires both full-time effort and you to hit the like button for the YouTube.

Algorithm studies show that once you hit the like button on this video, your trading account is more likely to grow a thousand percent in 2020 and at the end of the day after getting home from work around 7:30 p.m. to 8:00 p.m. I was still spend. At least two hours to research, the market see how the Ola gainers from the morning watchlist performed and make note of any offerings or any earnings and news for next day and from the evening studies.

I would pick the stocks I want to play potentially the next morning. Most of the time, I actually preferred to play the stocks that I already studied for the night before and that's because I already spent two hours looking at a splode structure, the catalyst and how the stock trades intraday. And, of course, I would already have the support and resistance levels strung out beforehand, so that would help me react to the price movement and the volume the next day. The truth is 90 % of the work in trading happens outside of market hours and definitely before you enter a position.

It's the preparation you put into your trading either pre market after hours or even before. Bed, that's going to give you better chances of making it in this game. Yes, you're right doing all that work still doesn't guarantee a hundred percent that I'll make a profit, but the odds are definitely better than if I were to wake up thirty minutes before the open and stumble to my computers and trying to follow chatroom alerts and I'll Be honest here exactly what I did in the first six months of my trading career, I had no playing each morning. No support and resistance level strung out no idea what the catalysts are.

The stocks float any fundamentals. Oh, I had was a list of 1 to 10 tickers from a chat room with headline song in it. What exactly was I supposed to do with that and with a list and some chat room alerts? I was so naive thinking that I can make some quick and easy money from clicking a few buttons in 30 minutes and while in my pajamas, a messy bed hair and sometimes even hungover, ok, ok, I was just kidding about the messy hair part. I know I know this doesn't sound at all like the easy working 1 hour a day, Lamborghini money that you and I were promised when we bought that $ 5,000 DVD, because I'm being real here trading is not a hobby.

It's a business you're, essentially trying to start a part-time business that requires full-time efforts, while you're working your 9 to 5 job. Well, in my case, it was more like a 97 job and sometimes even six days a week. So if I could do it well, maintaining 10 % of my sanity, 50 % of my normal sleep schedule and only 30 % of my personal relationships. You definitely can't do now.

The second thing that will be extremely beneficial for you if you're trading part-time, while working a full-time job, is utilizing range, orders or bracket conditional orders on your broker platforms. So let's say you want to enter this penny stock, SEPA at $ 2, because you see that's breaking a downtrend, intraday and reclaiming key daily levels and there's a lot more room to go. But you want to make sure that if a stock goes in your direction, you get to sell, but also to cut your losses. Small, if it goes against you so the solution is, you can use range orders or bracket orders that allow you to attach stop losses and take profit orders.

Once you enter a position, so let's say your buy limit order on CIPA gets filled at $ 2. You can attach a stop loss market order at 184 in the cell limit order at 250. So that's something I used to do a mid-cap in large cap stocks, not penny stocks go like I mentioned before in this video, when I was building my small account slowly. I preferred to trade these higher price and higher market cap stocks, because they are way less volatile and this almost always fresh cappers with catalysts, so most brokers out there offer you these range orders and bracket orders for you to use TD thinkorswim.

Has it Interactive Brokers and trade 0? They all have these order types now. The third important factor to understand when you're trading part time, while working a full time job is to do yourself a huge favor and keep your job contrary to what all these lifestyle marketing in the whole day trading industry tell you quitting your job took day trade Altogether is really not glamorous, it was easy, as it may seem for me, like any good, first-generation immigrants. I went to college, I got a job. I got a decent paying job in the film and VFX industry.

It pays pretty well, but it's not like a six-figure and your salary with a 50,000 signing bonus at Facebook or Google, but hey it's well enough to support myself a comfortable life as a single individual with no dependents. I was not rich by any means, but I really do believe that having a stable income from my job was a key factor that allowed me to trade. Well, after pretty chatroom alerts and slowly build up, my small trading account, while trading part-time. Having that guaranteed income from your job will provide you, the financial stability and the mental comfort to take trading slow and allow yourself the time you need to learn about yourself.

As a trader, whether you are better at loading or shorting, what strategies you're good at? Are you better at penny stocks or mid-cap and large caps? These are all the things that you need to give yourself time and more importantly, market tuition to learn having a stable income that you can count on. It's the only way that you can allow yourself to be not so attached to the money it's unfortunate, but losing is part of the business in trading. It's inevitable. The key is to control your losses and keep them small, and the only way you can actually cut your losses.

Small is, if you are not relying on trading profits to pay for your rent, your food or providing for your kids and family. I read this amazing quote from this trader: / businessman from Twitter. I'm never going to forget it. Learning to trade means living a few years of your life, like most people won't, so you can live the rest of your life like most people can't like I mentioned earlier, it all comes down to sacrifices.

Do you want this bad enough? Maybe it means partying a little bit less and weekends eating out only once or twice a week and sleeping only five to six hours or just not have a life like me. But, of course, if everything I just talked about sounds like too much work and too much time, there is still hope. My answer to that chat, room alerts. Baby gives you a hundred percent success rate 1 % of the time.

Now you must be wondering what exactly is this long setup that I talked about that I personally use to trade at the market open and one hour before the close, well you're in luck, make sure to subscribe and ring that notification bell, because in part two of This video we're going to be talking about the specific loan strategies, that's suitable for part-time traders, growing a small account while working a nine-to-five. So if you want me to make the video make sure to comment below - and let me know, thank you guys so much for watching as always, I'm the Humboldt trader and I'll see you guys next week.