Most individuals working a 9–5 job are hesitant about going into trading because they believe they won’t have time for it. It’s difficult to challenge the time to monitor the markets, exit trades causing losses, and take advantage of new opportunities when busy with your primary job. However, with technological advancements, working professionals can benefit from trading forex, stocks, and other securities. 

Swing Trading 

Swing trading is one of the best ways for working professionals to invest in forex and stocks. It is a medium-term strategy that allows you to profit from price fluctuations. It involves holding the security for a period, whether overnight or over a couple of months. Then, you take advantage of the peaks and dips in the value. 

Investors in forex trading can benefit from this strategy and gain profits in the short term. Swing trading suits working professionals because you can manage your trades around your work schedules. It also requires limited screen time. However, you still need to pay attention to market trends and avoid losses when holding positions overnight. 

Position Trading 

This is a well-known long-term trading strategy for working professionals. Unlike swing trading, position traders focus on long-term trades. They hold a position for a long time, usually months or years. This allows your investment in forex or stocks to grow while you focus on your main job.

For a position trader with a busy work schedule, the best allocated time for trading is in the evening. You should be reviewing the market around the time that the market is closing. At this time, you should review all your open positions to ensure they are going as expected. It’s a set-and-forget trading style, but you should review it regularly. 

Algorithmic Trading 

Algorithmic trading is another beneficial strategy for working professionals. This involves using algorithms to automatically open and close trades based on your set risk level and position volume. You don’t have to worry about missing opportunities or making losses because the algorithm will pull you out once it has reached a level.

However, when trading in forex or stocks with automated platforms, you must remember that the underlying strategy is the most important. The algorithm will only enter and exit trades based on the strategy that you have set, so ensure you have a foolproof plan before leaving your trades to the bots.

Factors To Consider on Trading Styles

As a busy professional, you must consider various factors when developing your trading style. You must determine when and how often you will trade and what investments you want to make. 

How Often To Trade

Whether swing trading or position trading, remember you still need time to check your trades. It’s better to allocate some time towards trading than constantly checking during the day while you go through meetings. You don’t have to watch the market 24 hours daily to succeed. Although you might feel nervous about all the opportunities you will miss, a consistent approach is the best choice for a busy professional. 

Time of Day

Depending on your schedule, you might need to do it in the morning or evening after work. If you have prolonged breaks from work, you can trade during that time. If you start early at work, that doesn’t mean you must wake up earlier. There are 24-hour markets for forex, and if you’re interested in stocks, the best time is during breaks. 

Choose the Market To Trade

You must also consider which market you want to trade in as a busy professional. If you invest in forex, commodities, and indices, the best approach is to choose the best markets and stick to them. You only need one or two markets, or keeping track will take more work. But if you’re doing position trading, you can enter up to ten markets. Remember to record the details of your trades so you can keep track. 

Suitable Forex Pairs

As a working professional, you won’t have much time for forex. Focus on currency pairs with volatility, liquidity, and trading opportunities. These include EUR/USD, USD/JPY, GBP/USD, AUD/USD, and USD/CAD. They are known for being active during trading sessions and are great for busy traders.

Importance of Using Trading Tools

One of the best ways to make trading while working a 9–5 much easier is with a wide range of tools. You should learn how to create a watch list with your trading platform. Also, ensure that you can create custom charts and add indicators. Set price alerts as you place trades during your working hours. 

This allows you to get alerts when something significant is happening to your forex pair or stocks. Another option is stop and limit orders, which automatically enter and exit trades. Always save your trading history and use a trading journal to keep records. 

Achieving Your Trading Goals as a Professional

You don’t have to give up on your trading goals because you’re swamped with work. There are styles and tools that you can use to trade in forex, stocks, and other assets while working a 9–5. Consider your busy schedule and goals before choosing a suitable trading strategy. Combine tools and use technology when trading as a busy working professional.

Published by: Khy Talara