Many new traders struggle to juggle trading with a 9-5 job…
But as tough as it can be — keeping your job while you learn to trade is absolutely the right thing to do.
Having an income can keep your mindset free from the pressure to make money…
That way you can focus on the process, executing good trades, and building good habits…
But having a 9-5 creates its share of challenges … The biggest one is lack of time.
How can you learn to trade, find the best setups, and further your career as a day trader while working?
Using the right tools to spot trade opportunities FAST can help….
So can my top time-saving tips for trading with a 9-5 job…
How To Save Time Trading With A 9-5 Job
When you have a job, you have to be more careful than most when managing your time.
And you have to be more selective when it comes to the strategies and patterns you’ll trade…
But my three tips can help you with all of that…
Focus on The Right Time of Day
You don’t have to sit in front of your screens all day…
The most important times to be at the market and looking for trades are during the first two hours of the trading day and from about 2 p.m. Eastern to the market close.
Those are the times when most of my patterns play out.
And you don’t have to make it to both times…
Try to adjust your schedule so you can make it to the market during at least one of those times.
I look for different strategies and patterns in the morning compared to the afternoons. So find which pattern makes the most sense to you, then focus on trading in the time frame it presents itself.
I recommend new traders focus on the afternoon to start. Get my afternoon trading tips here.
Use the Right Tools
Use the right scanners to find potential stocks to trade faster…
You don’t have to spend hours sifting through social media or chat rooms to find stocks.
Use technology to show you the best potential stocks to trade each day. Some of my favorites are:
- The afternoon VWAP scan.
- New daily highs scan.
- 52-week highs scan.
I go over all the criteria for my three favorite scans in this video.
And you can get three custom screeners to find stocks that fit my patterns for free when you try StocksToTrade.
You also need access to news headlines so you can see why stocks are moving before you make a trading plan. And when you have a job, you need to find those headlines more quickly and efficiently…
That’s where StocksToTrade’s Breaking News Chat comes in.
Our analysts alert the top catalysts that can move stocks — and it’s available on the StocksToTrade app so you can even get alerts to your phone. It’s available on the App Store and Google Play.
Build An Effective Watchlist
I use a rolling watchlist methodology…
Basically, I have a watchlist for every day of the week.
So today I will look at my watchlist from last Friday … Then I bring up the one-year chart and the 10-day chart for each stock and go through them.
If a stock gave back its entire move — it’s off the list.
Whichever stock is holding up near its high stays on the list and I can make a potential trading plan based on the key levels.
Then I go to my scans and find the new day oners…
I look at those charts to see if there’s a potential trade. And the ones that look good — I add to my watchlist.
The ones that aren’t holding gains or don’t have a history of running, I ignore.
That way you’re focusing only on stocks that have the most potential. Watch this video to learn more about my rolling watchlist methodology.
And follow along with what I see working in the market and my top stocks with my three Market Update videos every week. You can watch them at your convenience!
They’re just one of the perks of joining StocksToTrade Advisory…
See everything you get as a member, plus my big call for Tesla, Inc. (NASDAQ: TSLA) here.
Have a great day everyone. See you back here tomorrow.
Tim Bohen
Lead Trainer, StocksToTrade