As Q4 kicks off, it’s important to remember in both life and trading, time is our most precious resource. It’s really important to know where it’s going.
All Business Have Admin
When you really boil it down, your time in your trading falls into three main categories.
The first bucket is Admin.
It’s all the tasks you have to do just to be a trader. Setting up software, double-checking your data subscriptions, signing agreements every now and then, making sure you’re being charged correctly, and staying on top of research services or memberships like the ones I provide.
It’s a necessary part of managing your trading, whether you’re just getting started, whether it feels like a hobby, or whether it’s a full-fledged business.
Admin may not be the part anyone looks forward to, but it’s part of the job.
Trading is a Workflow, not an Event
The second category is your Live Trading Workflow.
I call it that specifically because live trading is a life cycle, not a singular event. Whether you’re trading in simulation or with real money, we all have a workflow, and that workflow has stages within it.
There’s preparation. There’s the actual time spent observing the market or entering trades. Then there’s a review afterward.
You really benefit from paying attention to where your time goes within this Live Trading Workflow.
Traders Never Stop Learning
The final bucket is education or training.
This is where you’re trying to refine your edge or learn a trading skill that can become your edge in the first place.
We all go through cycles of this. Even people who’ve been trading for a long time continue learning. Technology changes. New innovations come along. You don’t have to use everything in your trading, but you do need to stay aware of what’s out there.
Continued learning is simply part of being a trader.
Identify Your Time Buckets
Here’s a fun challenge for you. Every time you sit down to work on something related to your trading this month, think about which bucket it’s in.
If your buckets expand beyond the three I shared, no problem. Just jot that down.
Put it in the notes app on your phone. Add it to your digital calendar if that’s what you use. Or better yet, write it in a physical journal.
I actually do a combination of all three. I’m probably a little overboard when it comes to keeping track of my time, but it’s a habit I’ve developed over the past few years that’s really helped me dial in certain behaviors, become more efficient, and ultimately do more.
Freedom is one thing. But not knowing where your time is going—even your free time—can become a challenge.
So I invite you to know where your time is going.
It will improve your trading. It will improve your life.
And I can’t wait to hear what you discover from tracking and observing your time in this new way.
👉 PS — Where Is YOUR Trading Time Going?
For the next few days, pay attention to which bucket your trading time falls into: admin, your live trading workflow, or education.
You may be surprised by what you notice.
🗓️ Our next First 40 Trading Club Office Hours are Wednesday, October 7 at 4:30 PM ET.
Check out ALL of our events at himareddy.com/events
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