If you’re like many Americans, you’re stuck in a full-time job and find yourself asking the question, “How can I start a trading career?” The good news is that it’s possible. The better news is that you can start your trading career while working your 9-to-5, and you can start today. 

Read on as the Trade Sage team provides helpful tips on how to begin your new path to full-time trading. 

Don’t Do Too Much at Once 

First thing first: you’ve got to know your limits. Many people who feel trapped in their jobs will do whatever it takes to get out as quickly as possible, including trying to do more than is responsible and wise. 

Understand that if you don’t pace yourself to leave your current job for a career in trading, you’ll burn yourself out before you ever make the transition. Balancing too much on your plate will result in mistakes that can lead to a significant loss that feels impossible to recover from. 

Oversight, overburdening yourself, mistakes, and failure can lead many aspiring traders to give up before seeing real success. The market will always be there. Take a slow on-ramp to full-time trading. Approaching the transition in a healthy, sustainable way will set you up for success and profits when quitting your 9-to-5. 

Whatever You Do, Do It Consistently 

Consistency is the best strategy for every trader, whether you’re a casual trader or a career investor. As you move from your current job to your trading career, prioritize consistency. 

Focusing on and mastering one skill at a time allows you to maximize your resources. Instead of splitting your precious few hours among a dozen strategies and tactics, spend valuable time honing a specified skill set. 

Become a master of your craft, skill by skill. When it’s time to go all in, you’ll be ready. 

Determine Your Objectives, Capacity, and Commitment 

What are your goals for full-time trading? How do those apply in the in-between time when you’re still working your current job? 

You can’t expect full-time trading results and profits when you don’t have 40 hours per week to invest in your portfolio. Determine your capacity and commitment level as you explore how to jump into full-time trading. 

If you only have 5 hours per week to devote to learning, researching, and trading, work with what you have. Keeping a healthy balance of work and play while chasing your goals will sustain you as you make the switch, especially if it’s over many months or even years. 

Educate Yourself 

If you plan to quit your 9-to-5 and go all in on trading, you’ve got to know what you’re getting into. One of the most common mistakes traders make is under-educating themselves. When your livelihood depends on your market performance, you can’t leave any stone unturned. 

As you transition into full-time trading, you’ll spend your time in one of two ways: practice and research. Many traders spend most of their time trading, with little time devoted to understanding how to move within the market. Invest time in educating yourself so you can be ready for full-time success. 

Find a Trading Platform 

The right technology can make or break your entrance into full-time trading. With options as varied and unique as traders themselves, you must find a trading platform that meets your needs, helps you plan for your goals, and, most importantly, is one you’ll use. 

Platforms that offer mobile trading, custom alerts, and automated trading help streamline your trades as you balance your current job. The right software enables you to monitor the market and execute trades automatically when handling business in your salaried role. 

Manage Risk 

Creating and implementing a risk management protocol is central to any trading strategy, but it’s especially important when you’re balancing a job on top of investing. A significant risk involved with starting your trading career while working a 9-to-5 is taking on too much risk, not being able to manage it properly, and losing big. 

Some practical tips: 

  • Plan Your Trades: Research and build your watchlist and prepare it for the morning. Prepare the night before so you aren’t scrambling to research and execute trades as you’re clocking in.   
  • Set Stop-Losses: Set stop-loss points as soon as your order fills. Determine a loss limit you’re comfortable with, and don’t exceed it for any position. 
  • Set Take-Profit Levels: You’ve got to know when to cut your losses and when to make the trade. Take-profit levels set the exact price to close out an open position for a profit, helping you remain level-headed even when trades are going better than expected. 

Proactively planning and establishing safeguards allows you to plow forward in your trades while balancing your full-time job. The more prep and automation you can incorporate into your trading, the better you’ll be able to balance your career and transition into full-time trading. 

Create a Schedule 

Mastering time management is the only way you’ll be able to start your trading career while holding down your current 9-to-5. Create a schedule outlining when you’ll build your trading career. You’ll need time for research, practice, and evaluation, all of which require significant time investment that you’ll have to balance alongside your other commitments. 

Transitioning into full-time investing will take time. Determine what it looks like for you to balance your goals while setting and maintaining realistic expectations of yourself and your timeline. You’ve got 24 hours in a day. Budget them wisely and sustainably to set yourself up for a successful trading career. 

Start Your Trading Career with TradeSage 

There’s never been a better time for you to start your trading career. With the right expectations, preparation, and tools, you can begin to ease out of your 9-to-5 and embark on potentially the most lucrative career choice of your life. 

All investors, from novice traders to seasoned vets, need the right tools to plan, monitor, and manage their trades. TradeSage’s platform puts your trades in one place, empowering you to monitor the market effectively and use data to guide your trading decisions. We’re here to support traders like you in your strategic planning, whatever your goals. 

See what we have to offer at TradeSage and explore how our tools can prime you for a successful career in trading starting right now.