Patience

Day trading can be very exausting and time-consuming! Day trading is all about the right timing. And what sense does it make, when you are tied to your computer and your desk and can't leave the room?! Only a small minority wants to become a professional trader, most people just want to earn little extra money. So the best and healthiest trading is when you trade on special occasions.
In 2011 the stock market was mostly news-driven: Debt crisis, Greece, Italy, Spain, U.S. recession, SNB's intervention, Fukushima... And the markets were very volatile. There wery some good opportunities.


The right strategy for a part time trader is all about being patient and waiting for the long-term trend to make a u-turn. Let's take the German Market Index. Now on December 30th, 2012 the DAX stands at around 5'900 points. We should not forget its 52 week high in Summer at 7'600 and its 52 week low at around 5'000 points in September. The low espacially was a result of the european debt crisis and happened within few weeks! So it was not surprising that there were few good and long pullbacks and the certainty that this down trend would end at one characteristic resistence level.
A good once-in-a-while trader is not in a hurry does not necessarily have to make a living and therefore will wait for a record low or a high (of a certain index, currency or stock) which even the boulevard press would write about. With every new high or low record the chance for a trend change rises. But that logical thinking and the instincts are only one part of that successfull trading the other one is and remains the technical analysis. Never forget the resistence and supportive levels etc. Taking the technical analysis into account it is very likely to find an appropriate market entry than when the index or any stock is in the middle of nowhere. Consolidation phase in the forex market after a catastrophe or long rally can be considered as a good possible time for entry.
So it is advisable to trade (big) only in times after something big and extraordinary happened in the world.
After a financial catastrophy or incredible rally the financial world is shocked/careless for a moment but it will recover/fall after a while.