To answer this question you have to really know what you are trying to achieve with your trading. What is your ‘WHY‘ for you trading. Trading will require some of you time and even money so to understand why you are doing it will help with the right allocation of your time.
3 Questions to answer to identify your reason for trading.
-Do yo trade as a hobby just to past the time?
-Do you trade with the believe that no one can understand the market and so it is all just a gamble ?
-Do you trade to generate a second income or to replace your income?
Unfortunately some people have come to believe that trading is the vehicle to take you to quick and easy riches which means that they don’t even understand the very basics of trading.
I am going to assume that you have come to the understanding that trading is a way to increase your finances on a consistent basis and that you are able and willing to invest some time and money into your effort.
There are also many different methods of trading. You can buy, hold and later sell shares which is my preferred way of working yourselves to financial freedom.
There are however also currency or forex trading which will require a different approach as will as options trading to name but a few.
There are so many reasons why buying and holding shares are the best way to start your trading journey. It is definitely the easiest way to trade if you find that you are short of time. I always recommend to look at shares after the market has closed. You can look at the shares and look at the price action of the day. You can apply your strategy and decide when and where you want to enter.
The only down side of trading after the market has closed is that you can only open trades when the markets is open, but that is a small price to pay as you have already made up your mind that the trade is worth doing and that you want to own the shares.
You can set your target price and also decide if the trade goes against you where you are going to get out. This after hours trading allows for stress free trading as you only look at the market after the action of the day.
One strategy I’m following is to set a target of 10% profit after costs. When you keep on doing this you will increase your account dramatically over time and in this way add substantially to your income.
This income makes you a pro at trading which no one can deny as you generate income on a consistent basis. It also destroys the notion that share trading is gambling.
Trading after hours doesn’t interfere with you daily routine except that you need to look at the markets after closing for about 15 – 30 minutes daily or at least three times a week. This is what I call stress free and hands free passive income.
Over a few years your account will grow and your income will increase, the magic of the compound effect!
For more information on how to create a stress free and hands free passive income visit www.significant-trading.com/watch
Creating your significant opportunities