People say that Part Time Trading is not easy.
I am a Part Time Trader for more than 7 years and I have been using most of these tricks in my own #trading.
Here are some free hacks for a Part Time Traders to generate additional returns along with their Job/Business 🧵:
I am a Part Time Trader for more than 7 years and I have been using most of these tricks in my own #trading.
Here are some free hacks for a Part Time Traders to generate additional returns along with their Job/Business 🧵:
1/ First select in what instrument you will trade or invest:
This question can be answered depending on the skills and your edge in trading.
I have my edge in Option Selling and Positional Trading.
So divided my capital in half in these two.
This question can be answered depending on the skills and your edge in trading.
I have my edge in Option Selling and Positional Trading.
So divided my capital in half in these two.
Note: It is not necessary to jump into Futures and Options Trading just looking at lucrative profit screenshot.
Always protect your capital and don't take huge risk.
Generate returns that give you peace of mind.
Always protect your capital and don't take huge risk.
Generate returns that give you peace of mind.
2/ Let's say you pick up Option Trading as edge.
Then you should have a proper setup that you will trade. It can be intraday or positional.
For Intraday, put alerts and Stoploss order in the system always.
For Positional as well, use alerts at Target Level or Stoploss.
Then you should have a proper setup that you will trade. It can be intraday or positional.
For Intraday, put alerts and Stoploss order in the system always.
For Positional as well, use alerts at Target Level or Stoploss.
3/ Let's say you pick up Cash Trading.
Then you will have to do all the chart analysis one day before. Then wait for your entry to get triggered in any stocks.
For that simply use alerts and you get notify if entry is triggered.
Then you will have to do all the chart analysis one day before. Then wait for your entry to get triggered in any stocks.
For that simply use alerts and you get notify if entry is triggered.
For exits, if you have any target or Stoploss then also use alerts.
Also, few brokers allow you to set GTT order. This order will execute only when price has reached your trigger level.
Using this, you won't waste your time tracking market during the entire day.
Also, few brokers allow you to set GTT order. This order will execute only when price has reached your trigger level.
Using this, you won't waste your time tracking market during the entire day.
3/ There are Free Alerts Platform and App that you can use:
- Investing.com app can help you to keep unlimited alerts in the system.
- Few brokers like Zerodha, Upstox also allow users to keep alert.
- In @in_tradingview free version you can keep only limited alerts.
- Investing.com app can help you to keep unlimited alerts in the system.
- Few brokers like Zerodha, Upstox also allow users to keep alert.
- In @in_tradingview free version you can keep only limited alerts.
Few reality checks:
- Don't expect huge returns, like Rs 40k to Rs 1 crore in Part Time Trading.
- Frankly, Intraday trading will be difficult for part-time traders, so try Positional Trading first.
- Keep Stoploss/GTT Order in the system and don't hope that trade will reverse.
- Don't expect huge returns, like Rs 40k to Rs 1 crore in Part Time Trading.
- Frankly, Intraday trading will be difficult for part-time traders, so try Positional Trading first.
- Keep Stoploss/GTT Order in the system and don't hope that trade will reverse.
These are the simple steps which you can use to generate some additional source of income being a Part Time Trader.
If you found this useful, please RT the first tweet.
Follow @YMehta_ for more such learning.
If you found this useful, please RT the first tweet.
Follow @YMehta_ for more such learning.
https://twitter.com/YMehta_/status/1573317347578093568
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