Financial Fiction Friday #5

The Secret is to Focus Less

The problem with making trading your side-hustle when you have a 9-5 job is that the market is 9:30-4 job. If you want to do it well its probably even a 8-6 job if you want to monitor earnings or pre/post market.

As any Sweet Home Alabama aficionados will know, "You can't ride two horses with one ass, Sugarbean." What this means is focus on doing one thing well so you don't screw up multiple things at once.

Your job takes focus and dedication and so does trading. People do this full time and it pays well on Wall Street because it is hard. If you want to make money in the market, consider investing for the medium-to-long-term where you can control your risk and smooth out daily/weekly/monthly swings.

When you do invest or trade do it with a plan! Read how to build an Financial Policy Statement.

Consider these for reference on how average traders have faired:

Day Traders Have Terrible Track Records (CNBC)
Day Traders’ Profits From ‘Meme Stock’ Frenzy Have Been Erased (NY Post)

All Fiction