For most people, a lunch break is a perfect opportunity to forget about work for an hour, eat some food, have a gossip with work colleagues, and perhaps check your social media feeds. But, if you dream of making serious money and enjoying a future free from financial worries, forex trading is one way to realise your dream.
Trading at Lunch
Many online traders firmly believe that the middle of the day is the worst time to trade. Professional traders normally take a break in the middle of the day. They use their lunch break as an opportunity to regroup and clear their mind. However, if you work full-time or run a business, the lunch hour is time that you can use to your advantage. Instead of wasting time on Facebook, open a demo account on Oanda and start boosting your income.
Mohammad Islam, a 17-year-old from New York, began trading penny stocks when he was nine. By the time he reached High School in Queens, he was regularly trading in his lunch hour. He made millions of dollars trading in gold and oil futures and speculating in mid-cap equities. Clearly, not everyone has the savvy to be as successful as Mohammad Islam, but anyone can have a go at forex trading on their lunch break.
Wait Until the Markets Open
The forex market never sleeps, which makes it perfect for part-time traders. The US stock market opens at midday, so if you are in the right time-zone, lunchtime trading is perfect. The key is to time your trading activities when a stock market opens, so pick your currency pairs accordingly.
Successful part-time day traders have a structure to their trading activities. This enables them to spot patterns and trends in currency movements. It takes some time to develop a successful trading strategy. For beginners, it is sensible to start trading using a demo account, at least until you understand how forex trading works.
Consistency is very important. Follow economic and political news and have an economic calendar to hand, so you are alive to major announcements in the financial sector. Use your spare time to follow forex trading tutorials and learn as much about the art of technical analysis. To be successful, you have to be comfortable with data, which is why anyone working in the fintech sector is a natural for online trading.
Once you have a trading strategy, set aside a small amount of cash and start your forex trading journey. It’s a far more productive way to spend your lunch hour.