How much time do we need to dedicate to trading?
- by Anna K.
Being a trader means being forced to make sacrifices. You have to sacrifice some of your money, some of our patience and some of your time as well. Of course, there are many more things that you have to be to truly become a trader, but putting time and effort into the craft is probably one of the hardest things that we have to do.
Of course, it is worth mentioning that the more time you put into trading, the harder it can become. Of course, with time you are getting used to hardships and challenges, you are learning more about process and you have the possibility to earn more and more. But, here you have to remember, that the more time you are putting into trading, the faster you are going to burn out and lose interest.
You always have to leave yourself wanting more.
So, how much time is the right amount to put into trading? Well, I have to say, there is no universal measure for it. Some people are more resilient to stress and, as a result, can trade more. Some get tired faster and cannot bare to trade three times in a row. So, the first step in determining how much time you need is to determine your own limits and restrictions.
Second, you need to understand that trading is highly volatile and risky. That means that the more you trade, the higher your risks to lose are. And of course, you have to determine, how much you can afford to lose while trading. As soon or if this limit is reached – your time is up. There is no point in trying to win the money your lost back in the same day. Of course, you are going to want to avenge yourself sooner or later, but after every loss you should take time to recover and think about your future moves and strategy.
Third is determining how much time it takes for you to get really tired for the day. Trading takes up not only a lot of your time, but your energy as well. And seeing how we all need energy to run on until weekend comes, I really do not advise you to spend it all during the first day of trading.
So, here are the three most major factors in trying to find out how much time you need to dedicate to trading:
1. How much stress you can take in one day?
2. How much money you can lose in one day?
3. How fast are you getting tired?
Basing your decision on these three factors is going to help find out just how many hours you can give to trading.
But remember – as long as you enjoy it, it is not going to give you a lot of stress and it is not going to wear you out, so enjoy your trading as much as possible!