Very Nice read. I found a little disagreement with set hours to trade. That might increase ones tendency to actual trade during a set time when market conditions may not be ready.
Ah, good point! I should have specified two important details:
1) I settled on those hours after some (well, a lot of) trial and error. They aren't in any way arbitrary.
2) On the rare occasions an alert went off while I was back at work for a trade I'd planned in advance, unless I was unlucky enough to be in call (extremely unlikely since I avoided meetings), I could take swift action before quickly returning to work. I just didn't habitually watch the market closely after 15:30. 16:00 latest. (11 am ET.)
Of course I'll miss things in the market. That's the price to pay of trading part time, even when you take it seriously, and I'm totally cool with that trade-off. But I also avoid getting myself into trouble by not watching the market all day long.
Really appreciate you raising this point, Curt — hope this clarifies things!
Very nice article, Kyna with some practical insights. Being a part time trader I can relate to all the points you mentioned.
Personally I have also found that not being able to do my daily routine everyday will make me miss some opportunities but I have accepted that and made peace with it. I will generate less returns than full time folks and some highly committed part time folks and that’s ok. 😌
The missed opportunities thing resonates. I know full well that not watching the markets constantly will have me miss stuff, and I'm fine with that — particularly because I know that keeping busy outside the markets also keeps me out of trouble.
Your priorities reflect your results. This article was never about pretending that you can become a champion as a part-timer, but that if you take it seriously, you can get good results. It's only natural that you won't outperform someone who goes all-in, all other things being equal.
Wonderful read, Kyna! I totally agree with this. Having multiple sources of financial income, and well being leads to a more balanced mind which in turn makes it easier to focus on what we should focus on.
I don't think someone is likely to succeed in trading unless they truly commit to it. That means leaving their job. The motivation to learn and go full time trading must be greater than keep stability with their job. You have to experience that struggle to truly become a top 1% trader.
If you treat as a partial income, then you will be average and that is fine if you want to be average. If you want to be the best, you have to quit job, focus on gaps between where you are and where you want to be, and obsess over reaching it.
Most traders have wrong expectations, don't know what they're problems are, and focus on stuff which is not going to help them.
Very Nice read. I found a little disagreement with set hours to trade. That might increase ones tendency to actual trade during a set time when market conditions may not be ready.
Ah, good point! I should have specified two important details:
1) I settled on those hours after some (well, a lot of) trial and error. They aren't in any way arbitrary.
2) On the rare occasions an alert went off while I was back at work for a trade I'd planned in advance, unless I was unlucky enough to be in call (extremely unlikely since I avoided meetings), I could take swift action before quickly returning to work. I just didn't habitually watch the market closely after 15:30. 16:00 latest. (11 am ET.)
Of course I'll miss things in the market. That's the price to pay of trading part time, even when you take it seriously, and I'm totally cool with that trade-off. But I also avoid getting myself into trouble by not watching the market all day long.
Really appreciate you raising this point, Curt — hope this clarifies things!
Yes I totally agree. I love your discipline and mental preparation. Very important. Thank you.
Very nice article, Kyna with some practical insights. Being a part time trader I can relate to all the points you mentioned.
Personally I have also found that not being able to do my daily routine everyday will make me miss some opportunities but I have accepted that and made peace with it. I will generate less returns than full time folks and some highly committed part time folks and that’s ok. 😌
Glad to hear you found this useful, Jaimin!
The missed opportunities thing resonates. I know full well that not watching the markets constantly will have me miss stuff, and I'm fine with that — particularly because I know that keeping busy outside the markets also keeps me out of trouble.
Your priorities reflect your results. This article was never about pretending that you can become a champion as a part-timer, but that if you take it seriously, you can get good results. It's only natural that you won't outperform someone who goes all-in, all other things being equal.
Right! That makes sense.
Very motivating article Kyna, thanks!
Awesome to hear, Blake!
Wonderful read, Kyna! I totally agree with this. Having multiple sources of financial income, and well being leads to a more balanced mind which in turn makes it easier to focus on what we should focus on.
Not just that, but also building up more skills gives another layer of protection/peace of mind. Both always come down to focused, intensive practice!
Glad you enjoyed the read, Sara :)
I don't think someone is likely to succeed in trading unless they truly commit to it. That means leaving their job. The motivation to learn and go full time trading must be greater than keep stability with their job. You have to experience that struggle to truly become a top 1% trader.
If you treat as a partial income, then you will be average and that is fine if you want to be average. If you want to be the best, you have to quit job, focus on gaps between where you are and where you want to be, and obsess over reaching it.
Most traders have wrong expectations, don't know what they're problems are, and focus on stuff which is not going to help them.
Appreciate the thoughtful comment! Inspired a tweet: https://x.com/KayKlingson/status/1999877593697325562.
I believe we agree on more points than you think.
excellent post
Glad you enjoyed it, William!