How to Find Time to Trade the Forex

Have an interest in trading the forex market? However you feel you may not have the necessary time.

Here are the three biggest myths about the amount of time it takes to learn and then trade the forex:

1. You have to spend countless hours in front of your computer.

Nothing could be farther from the truth. In fact a primary reason trader's fail is because they spend to much time watching the market. Being glued to your computer is a bad thing. You read into things and make poor decisions.

One cardinal rule to follow, "plan your trade, trade your plan." All it takes is blocking out 30-45 minutes each day. This could be in the morning, afternoon or night. At a convenient time, use a planning worksheet to create a trading plan. Once this is done you can set an alarm on your trading platform that will email you or send you a text message alerting you to a potential trading opportunity.

2. I presently work so I cannot pursue the training process.

First, select the correct training environment. Look for programs that offer unlimited access. This means you can pursue the training at your own pace. When developing any new skill it is best to commit just a couple of hours per day 2-3 days per week. The individuals who overdo it and pursue an intensive crash course style of training always run into problems.

Statistically, the individuals who are currently working while pursuing a training process to learn how to trade do better because they approach the training process in a conservative fashion.

Secondly, look for training that is online. Classroom training with a fixed schedule is archaic. Online training allows you to have 7 day a week 24 hour a day to access via an online learning center. Unlimited access means a flexible training process tailored to your schedule.

3. Because of my job I need to trade on a large time frame.

Keep in mind the forex is open 5 days a week 24 hours a day. It has incredible volatility. Most individual traders get slaughtered trying to stay in this market for an extended period of time trading on large time frames (30 minutes or greater).

Here is the reality. Once you are in the market, as the hours pass the concern for your trade creates so much anxiety that you continually need to check on it throughout that time. Result: lost sleep, distracted at work. This particular myth is why so many fail.

Select a trading methodology that allows you to be in and out of the market in most cases in under an hour. Imagine this scenario. You create your plan at your own convenience. Hours later you receive a text message alerting you to a potential money making opportunity. You go online, set your trading order, 40-60 minutes later the trade is done. Profit achieved!

No lost sleep. No distractions while you are working. The reality is that trading on a small time frame works best for a working individual. It is the person with time on their hands that can trade on larger time frames. Here is another reality. Most people find they do not want to be in the market for extended periods of time because of the anxiety involved.