How Having Children Has Influenced My Trading
Trading gives you the ultimate flexibility to trade whenever you want to. Over the years, I was able to look at the market and place trades, but also be able to go for long runs (something I enjoy), be outside, travel (vacation in California and leave the cold weather behind), and basically enjoy a lifestyle doing the things I love the most.
Now after having my second child (who is 9 months old and sleeping in my lap as I write this post), I can reflect on how my trading has adapted to the time I have now.
I Continue to Swing Trade
I went back to trading four days after my second child was born. Why? Because I love trading too! My daughters have both grown up with trading as part of their lifestyle.
Swing trading in particular (the style of trading that I do in the trading room) gives a trader the benefit of time which is what is the most valuable commodity for any busy person! Swing trading means that I will set up a trade to enter and exit in a few days. This style of trading is ideal for part time traders, traders who are retired, busy people, and great additional trades for a full time trader. This style can easily accommodate your busy lifestyle so that you aren’t stuck in front of a computer screen all day long. I find weekly options are ideal trading instruments for swing trading. Since you are probably juggling many things as well, adding swing trading to your trading plan can be a great time saver and money maker.
The markets have taught me that trading opportunities are never missed, there are many windows that provide entries and exits. Most the of the time, if I have missed an entry one hour or one day, the opportunity will present itself again in less than four days. I’ve realised that it is better to enter a trade at a price I am interested in paying rather than chasing in to moves and adjusting my price as a stock moves in the direction I thought it would. If you miss a move one day, it is often better to wait for the entry to appear again rather than to chase in to the move you have already missed.
The Process is as important as the End Result
Watching a baby learn to crawl for the first time is a great lesson in resiliency for all of us, and as traders especially. When a baby is learning to move around, they begin by observing, then trying it out for themselves, then making it work for them. My first born daughter took to crawling very quickly, while my second prefers to scoot around and seems very determined to move right to walking. As a trader, there is an important lesson here. Through the process of learning and trying in the markets is where you will figure out the way you will move from one trade to the next. A successful trader has to have the resiliency to get up if you fall down, to figure out your own way to move around, and then also to be proud of the efforts as you go.
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