Can You Succeed at Trading and Work a Full-Time Job?

The question about part-time trading while working a full-time job comes up regularly.

So, today I want to share a little about how I tackled this very situation. And what I would do if I was starting today. One thing I would do is check this out from Matt Monaco…

How to make NVDA gains with a secret “ticker swap”

The Big Picture

Can you succeed at trading while holding down a full-time job? My answer is yes, it can be done. I’ve got extensive personal experience in this.

You might already know that before I started trading I had a business. So, I was honing my skills as a part-time trader while running the business full time. Even after I sold my business, it took a couple years to wind the partnership down so I could commit to trading full time.

Now, I don’t necessarily recommend that you trade while you’re at your job. It can be done with a mobile phone these days. But I would be very cautious with the lowest float stocks because they have such extreme volatility. It can be tough.

Now, I have a solution.

What I would do is only trade the most volatile, low-float stocks. But I would only go near them in premarket and after-hours when you’re not at work. That way you can focus on your trades instead of trying to work and trade at the same time.

Now, that assumes you are trading from a time zone where it’s possible. I’d guess that either premarket or after-hours will work for most people. If you live in the Eastern or Central time zone, you could trade both.

What Pattern Would I Trade?

Now, the next question that comes up around trading while holding down a job is, what pattern should I trade during premarket or after-hours sessions?

I’ve been clear on this for a long time and there is only one:

The RCT pattern is my go-to pattern for extended hours trading.

So, from 7:00-9:00 a.m., and 4:15-6:00 p.m. every day the RCT pattern plays out.

Do they all work? Of course not. But I like the RCT because:

• It’s predictable
• It allows you to write a structured trade plan
• It’s a smart way to trade the most volatile low-float stocks

Doing it this way, you bracket your work days with RCT trades.

What About Trading During Work Hours?

Again, it wouldn’t be my first choice. But if you must trade during the middle of the day during work hours, I would look for mid-float, less volatile stocks that still have range.

Many of these stocks fit more of a swing trading style. If you day trade them, they’re not as exciting as the volatile low-float stocks. But you’re less likely to walk away for two minutes and come back to an ugly situation.

More Resources for Part-Time Traders

Again, I’ve written about trading with a job before. So, here are a few oldies but goodies:

• Tips for Trading with a Full-time Job
• 8 Easy Energy Hacks for Traders with Day Jobs
• 3 Tips to Help You Juggle Trading with a 9-5 Job

Also, this is my favorite video about the RCT pattern.

My Take

When I was a part-time trader there was no such thing as an iPhone. I still had to get to a computer to make a trade. There wasn’t Wi-Fi everywhere.

So, I would bracket my days with the extreme low-float stocks and then avoid them midday. If I was in a trade midday, it was a mid-float, less volatile stock. It took several years, but eventually I was able to go full time.

Watchlist

Agenus Inc. (NASDAQ: AGEN) was a big day-one runner yesterday (July 13) after the company announced an oversubscribed private placement of up to $340 million.

A key to understanding the stock’s move is the company’s market cap.

Before the announcement, AGEN’s market cap was roughly $130.5 million. So, every trader who saw the announcement instantly thought “hey, this thing could triple today.”

If AGEN continues to consolidate today, tomorrow will be decision day.

On My Radar

• Meet the newly minted data center millionaire next door
• Apple vs OpenAI is a big tech story worth watching
• Oil risk is still on due to the renewed Strait of Hormuz blockade