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During the last month or so (Fall 2021), there was a stock market crash. A week later market was uncrashed, Defi got upgraded to Defi 2.0, which no one knew what was, but everyone was farming four-digit APYs, Bitcoin looks like it’s about to reach a new all-time high after ETF approval, Crude Oil is rushing towards god knows where only after a year and a half from trading at negative $30 and other maybe 50 things which I completely missed happened.

Trading is often promoted as something you can do for one or two hours a day.

Pick your phone, take few trades while sitting at the beach drinking cocktails with friends.

Ah yes, the average Monday for any trader. pic.twitter.com/aVUt4nUWJ9

— TTI (@TikTokInvestors) September 23, 2021

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Anyone who tried trading will very soon realize that this can be further from the truth.

People very often lean to trading because they want to be “their own boss”.

But what if the market is not favourable for your strategy, and you keep losing trade after trade?

As you are losing money and trading kind of sucks, you have only two choices.

Give up or show up the next day.

Isn’t that a description of a job?

Trading also has one awesome advantage compared to regular employment.

You can work for 10 hours a day and end up losing money.

Isn’t that awesome?

But in all honesty, trading is great and can bring amazing returns if done correctly and consistently.

But this article is not about what you can make from trading and why you should stick to it rather than choosing something less painful and emotionally draining.

This article is about how you should approach the markets with the most effectiveness.

There is so always so much going on.

New trading week starts, and before you know it, it’s Friday, and you are in many different positions you don’t even know how you got into and just shooting your shots without a proper plan.

Few months go by and you just end up like this guy.

Hi @tradingview is it possible to ask a developer to make it so if we close one notification, it will close the same notification on other monitors? I want to see them but it can be time consuming deleting them to see my charts. pic.twitter.com/CC2BQePw3D

— Wyckoff Mode (@ModeWyckoff) October 7, 2021

The first step to reclaim your sanity in the markets is to realize you won’t be able to catch everything and missing out on things is natural and will keep happening your whole trading career.

Sometimes that can be hard to stomach especially if you are active on any social media when those who were able to get in at the time will make 100% sure to brag about it so every sucker will see it.

But that’s just part of the game, so get used to it.

It is important to find something you are good at and pursue it without changing your decision after every losing trade.

It can be anything that suits you and your lifestyle.

Find a market that you like, find a trading approach that suits your schedule, but stick to this one thing first.

From my own experience and what I mostly cover on this blog, day trading can bring versatility in markets you decide to trade and choice of focusing on the most liquid trading sessions during the day.

It’s a lot of work, and you will spend countless hours in front of screens, but at least you pick your main hours to trade.

The problem with day trading is that we tend to miss out on long term trends as it is often a problem for someone who is in and out of positions quickly, to actually hold to the trade for a long time.

This of course goes vice versa as long term investors will have a hard time just go into positions for a “quick flip”.

That’s why you should be working on both, as we often try to differentiate markets, correlations, narratives, at the end of the day we just trade volatility and time.

If you decide to scalp/daytrade one or two markets and then swing trade 10 other markets on just a slightly higher timeframe you might find yourself in the situation of doing too much.

This intra-week approach to trading is often the most popular amongst retail traders as they can’t focus on markets full time and want to be active enough in the markets.

This is often technical trading using an H1, 30min chart with the premise to stick in trades for maybe a few days before hitting the profits.

This is in my opinion, one of the hardest paths you can choose as you are open to intra-week news and other volatility events that can easily shake you out since you are trading on higher leverage.

I am not saying this is not a profitable approach to trading, but you will quickly find out that it requires much more attention than you originally thought so.

You need to find a balance in things if you want to focus on intra-week or intra-day trading you might want to group it with something that is less time-consuming.

It can be anything from buying NFTs, trading leaps (options with long-term expirations), or building a long term portfolio with systematic trading rules.

If you don’t care about building any long-term positions you want to trade and leave flat at the end of each day, think about how much you can realistically handle during each trading day.

Focusing on 50 markets like that guy from a video I posted above is not realistic.

People don’t often realize, especially when they start with small trading accounts, that you can scale up in one market. It can be more than enough for you.

You might want to start as 1 lot trader in the E-mini S&P500 futures and before you know it you are trading 10 lots and then 100 lots.

So if you don’t care about diversification, that’s completely fine, but you will find out that if you focus on slightly more things, they can weigh out the stress from each other.

Daytrading is not going so well? That’s not great, but the investment portfolio is steadily rising.

At the end of the day, it’s up to you.

There is no right or wrong way of approaching the markets and you can make a career in forex, crypto, stocks or futures.

You missed the recent rally in crypto? No need to worry, there will be another one.

On top of that, you will realize sooner or later that markets are not really worth the mental and psychical damage you can very easily experience by sitting in front of a screen for 14 hours a day.

Pick your niche, become very good at it.

Once you have an edge and you are comfortable in what you are doing, try to slowly add other things that won’t directly correlate with your main area of focus so you won’t lose sight.

If you don’t want to add another style of trading, that’s fine, maybe just try to add few more markets, or don’t add anything and just focus on scaling up of what you are doing the best.

Just bear in mind that you will always miss something and that’s completely fine, the market is not here to get you, people on social media who are bragging about their results are more often those that feel the most miserable, but you need to find balance before you lose your sanity.

If you like this article make sure to read the rest of the blog or eventually pick up the Trading Blueprint that covers my personal trading strategy. 

For those looking for crypto futures exchange, you can trade with me on Bybit.