Trading for the Stay At Home Parent
Trading for the Stay-At-Home Parent
written by a stay-at-home parent
Stay At Home Parenting is one of the busiest jobs I have ever considered. Work for me starts around 6am and ends around 8:45pm if I'm lucky - during that time, I am chef, nurse, teacher, investigator, chauffeur, event planner, mediator, house keeper (I'm really bad at this one), and more... But I am also a day trader. Certain trade strategies work best at different times of the day, so I arrange my parenting schedule to allow me to focus on a few specific strategies.
First, here's a few freaky fun facts most people don't know about trading:
Real Life Trading will teach you how to trade (even day trade) FOR FREEYou only need to win 1-3 more trades than you lose in a month to double your account in a year using our R system.You can submit three orders all at one time - one for your entry, a protective stop and a target - and then go about your day. If your entry order gets filled, then the broker will execute either your target order or your protective stop, whichever the stock gets to first. It's "set it and forget it" as it was supposed to be.You can receive text messages anytime an order is filled or alerts if the stock crosses a price level of your choosing. Many brokers have a phone app, so you can enter and manage your trades from your phone.You can sell a stock first and buy it second. This is how we make money fast when a stock goes down.You can receive trade setups directly to your phone and/or posted on a website if you are subscribed to the trading floor Occasionally, the trades trigger quickly, but most people have plenty of time to get their trades submitted to their broker.
Basically, you can be a trader, even a day trader, without spending hours in front of your computer!!! And here's the magic secret that makes it work...
Certain strategies set up at very specific times of the day
Gap N Go's set up mostly between 9:30 - 10am (Gap N Go's and Retest Bounces are in the same video)Retest Bounces set up mostly between 9:50 - 10:30amAfternoon Rollovers set up mostly between 12:30- 1:00pmSwing trades are best setup when the market is closed - after 4pm, before 9:30am, weekends, holidays, etc. Swing trades are trades that are open for a few days to a few weeks.
***all of the aforementioned times are eastern time and approximated
The #1 consideration for a stay-at-home parent is when is your child occupied with an activity? Nap time, while they are eating, during TV time or tablet time if that is allowed... Perhaps your child(ren) attend school or day care one or more days per week... If you live on the west coast or further west, you might be able to trade before your children wake up...
The #2 consideration is how fast do you need to respond to a child's request? Infants and toddlers need an instant response, but as your children get older, your might be able to finish entering an order or maybe even finish your analysis before answering your child's need.
Lastly, are you a do-it-your-selfer or are you ok with someone else (or several others) sharing their trade setups with you? If you are available when the trade idea is shared, you verify it meets with your individual plan and then enter the trade. The cost for the trading floor at Real Life Trading is one or two winning trades if you risk $50 per trade.
I have a 3yr old son and a 5yr old daughter as I am writing this article in March 2016. The 5yr old is in kindergarten, and the 3yr old goes to daycare three days per week. On Mon and Fri, I am stay-at-home-parent and trader. Here's my schedule (all times are eastern time)
8am - 9:20 I squeeze in about 15-20 minutes of premarket research choosing which stocks I will look at once the market opens. I also log in to the trading floor with a wireless headset
which allows me to listen to the morning show and move about the house. If I hear discussion about a potential trade and I can break free for a few seconds, I look to see if it is a trade I would be interested in entering. If I am occupied when the trade sets up, I know there will be plenty of great trade setups in a month, and I only need to catch a handful to double my account in a year
9:20am-9:30 I take my son to the bathroom, prepare a snack, and hand him the ipad for about 30 minutes9:30am - 10 I look for Gap N Go's and Retest Bounces on the 1 minute chart, plus I get a pretty good idea as to which stocks might setup for a Retest Bounces later in the morning or an Afternoon Rollover10am - 10:30ish I engage my son with puzzles or coloring. These activities usually allow me to glance at the computer or even spend enough time to enter an order. I look for Pinnochio setups and Retest Bounces on the 5 minute chart, both of which usually give plenty of time to enter an order.10:30ish-12:45 I spend this time playing with my son, running errands, serving lunch and putting him down for a nap.12:45pm-1:30ish I look for Afternoon Rollovers and Pinnochio setups1:30ish until my son wakes up, I work out, clean the house, pay bills, answer emails etc and spend the rest of my day as stay-at-home Dad. If any trades are still open, they only take about 5 seconds of attention every 30 minutes.8:45pm After I put the last child to bed, I watch the recording of the Afternoon Floor to look for swing trades
Ready to get started? Here's what to do next...
Watch all of the free Real Life Trading videos on learning to tradeDo you want to be a day trader? If so, then watch the free Day Trading VideosBased on your timezone, available times, parenting schedule etc, choose which strategy would work best for you. Choose 1 strategy and become an expert before trying to learn an additional strategy.Day Trading Videos will teach you to trade Gap N Go and Retest BouncesHere is a video about the Pinnochio setupHere is a video about Afternoon RolloversRead this article on how to learn a new trading strategyOpen a brokerage account and get familiar with a charting software (we use www.TradingView.com)Consider subscribing to the Live Trading FloorsStart backtrading and getting specific with your strategy; then trade live charts with fake money until you can be consistently profitable; then trade with a very small amount of real money before trading with a full risk unit.
Have questions? Feel free to email me at Brad@RealLifeTrading.com
Trade on Logic, Not on Hope
***Special Thanks to Real Life Trader Dean Chance for helping me with this article