Are you Day Trading alone?

One of the problems with day trading is that it is a pretty lonely occupation, unless of course you trade for a financial institution and are surrounded by other traders. Working at home on your own, it is sometimes difficult to escape certain mistakes that are then repeated throughout the day and the week.
Another issue, is that some traders feel that they have to trade all day long, similar to a job, where you are expected to be present for 8 hours a day even when there is little or nothing to do.
With trading, I have discovered that less is often more, what I mean is that I can trade for 30 minutes, make my daily target and then spend another 4 hours, either reducing it or making little impact on what I have already secured. Day trading, my friends is not a job, and has little in common with the familiar corporate structures that we know and love/hate so much.
That’s why I do like setting daily targets, because that means that once you’ve made your x points, you can go and do something else. It also means that you are not sitting there staring at the screen for hours on end and getting a back/neck ache and growing frustration.
Another thing to consider is that most of the moves happen around news announcements, both scheduled and unscheduled. You can always make a nice profit on an unscheduled news item, the entry is quick, you make a fast 2-25 points and the day is done. That means that you need a good news source, I use Forex Talk which I find pretty good, both voice and text and the news is timely and accurate.
For scheduled news, such as CPI, GDP, Non Farm Payrolls etc I use SNW from Fast Economic news and that makes up about 30% of my monthly profits (check out this video to see a live trade).
That leaves me with plenty of time to some do longer term analysis (by that I mean 4 hour charts) and for that I use the Forex Rebellion EA, which is pretty accurate, and adds a good chunk to my monthly profits.

However, all that done and dusted, I still have plenty of time on my hands t pursue other interests, I go to the Gym everyday and do Yoga a few times a week, plus of course the early morning 1 hour meditation.
And, then, there is still time left to dabble in Network marketing which I have been doing now for a few months and seeing some nice profits there too. I’ve even set up another blog to deal with Network Marketing and MLM companies, and the nice thing about it (other than meeting new people, making money and having a good laugh) is that I have reduced my trading time, so my hourly rate is much higher now.
Ok, that’s my sermon for today done, I have already hit my targets for today in the first 2 hours of the London open, so off to the gym and then develop some more income streams.
Have a great day.

To Your Mega Success,