Author: John Forman

I'm going to tell you a little story.

In March of this year I was looking at the markets, reviewing the
price charts to see if there was anything worth trading. In this
particular instance it was the foreign exchange (forex) market I
was scanning and I did come across an interesting development.

You see, the Euro was setting up to making what looked to be a big
break higher against the Dollar. Based on my analysis, which took
all of about two minutes, I saw a pattern forming which told me to
prepare for an uptrend. Now I don't want to imply that in two
minutes I found a great trade. It probably took me 30 minutes to go
through all the charts that day. Oh, and since I actually wrote up
the analysis of the trading strategy for my report subscribers, you
can add on maybe another 30 minutes. That makes an hour.

The strategy I devised that day had me buying the Euro against the
Dollar at about .21 (meaning each Euro was worth .21). That was
mid-March. About two months later I exited the position at around
.28. If you are familiar with forex trading, you will know that's
a nice profit. If you don't have forex experience, let me explain.

Let's say that I bought 100,000 Euros against the Dollar. That's a
position size of about 1,000. Because forex is a leverage
market, I would only need a margin deposit of maybe 00 to put on
that trade - potentially less. At the time I exited the trade, the
100,000 Euros had increased in value to approximately 8,000.
That's a gain of 00, which is not a bad return at all on the
initial 00 deposit.

Now let's say I checked on the trade once per day during the time
I held it. That's about eight weeks, which is forty trading days.
If I spent five minutes each day looking at that trade - which is
probably quite a generous figure - then I accumulated 200 minutes
of trade monitoring time. Add that to the sixty minutes I used
identifying the trade and creating a strategy and you have 260
minutes. Rounding that up, we'll call it 4 1/2 hours.

So if I had put on a 100,000 Euro position I would have spent 4
1/2 hours to make 00 - more than 00 per hour. That's one heck
of a part-time job!

This story isn't about telling you how great a trader I am.
Rather, the point is that I was able to make those kinds of profits
in the market without having to spend hour upon hour in front of
the computer screen watching the charts and trying to interpret
news events. This is something you can do as well.

Let's face it. There are a heck of a lot more people who trade
part-time than full-time. The day traders, though, account for more
of the noise and they have a great many people convinced that one
has to be dedicated heart and soul to the markets to make good
returns. That just simply isn't true.

Part-time traders are at least as capable of doing well in the
markets and making a positive contribution to their financial
well-being as those who spend long days focused on the market. It
is just a question of managing their time well and finding an
approach which suits their situation.

Article Source:
http://www.articlesbase.com/advice-articles/parttime-trading-the-best-paying-side-job-you-could-have-38826.html

About the Author:
John Forman is a near 20-year veteran of analyzing and trading the
markets. He is author of the Amazon.com Top Selling book The
Essentials of Trading , and the soon to be released Time Crunch
Trading .