Tuesday, February 3, 2009

Not Enough Time To Trade

Well, my days have become very busy as of late. I go to work early, come home late, and need to get some sleep when I am not swamped with the normal day to day duties of life. I need time to cook and clean, pay the bills, service the car, look after my home, watch the superbowl, do laundry, and so on.

While I've been making money I certainly am not making enough money to hire someone to look after all my day to day tasks.

Okay, enough whining! What, you may be asking, am I going to do about this?

I'm going to focus my energies on my job. It's interesting, pays well, and I can't afford to ignore it in the current economic situation. This means that I am going to scale back the amount of time I can trade.

To put it concisely, I'm going to trade very small position sizes and look towards lowering the average price of my open positions. This means checking my account once in a while, taking profit when I'm ahead, and opening more positions when I am behind. As a hands-off trader I'm going to have to trade in small amounts and make sure I have the longevity to wait for days at at time for a swing to give me some profits.

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