There are a number of time demands every day for day traders, putting a significant strain on both their work and home lives. PsychCentral reports many may be well-served by looking to clear some things away from their plate.
As author Laura Vanderkam writes, there are only 168 hours in every seven-day week, so it's necessary for business owners to prioritize their time and stop wasting time on unnecessary tasks, according to the report.
The first step, the source says, is to physically write down how they spend their day, so they can see how long each task takes them on a regular basis.
After that, business owners can review that list and single out things they enjoy or are good at, and those they would prefer not to do, such as keeping track of their daily accounting and bookkeeping numbers. To ease their time demands and spend more time with enjoyable activities, it may make sense to find a qualified outside resource to handle them.
Once the plan is in place, traders can revisit their schedules to see if there are other ways to arrange their daily activities to slot in more time for positive tasks.
Time is a valuable commodity to all small businesses, particularly day trading companies. A recent survey by U.S. Bank found two-thirds of small business owners felt their time demands were a strain, and roughly half don't think they will be able to take more than two weeks of vacation.
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