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Firstly, spending eight hours per day sitting in front of a computer is not necessarily part of being a professional trader. Many professional traders do spend their day trading (and making a lot of money by doing do), but there are also professional traders who only spend a few minutes trading each morning (or evening).

Secondly (and the odd part), many of the new traders that use the excuse that they cannot spend eight hours per day in front of a computer, are doing exactly that anyway, but they are doing so in an office, while they are working for someone else.

So, if you are one of the traders that is content to spend the same eight hours per day working for someone else, but not trading for yourself, consider what an odd excuse that is, and recognize that it is actually fear that is holding you back, and nothing to do with how you can or can't spend your day.

There are a variety of excuses that are used, including blaming their charts (e.g. they should have looked at a two minute chart instead of a one minute chart), blaming someone else (e.g. a larger trader looked for their stop loss on purpose), and even blaming the day of the week (e.g. they shouldn't have traded on the day before (or the day after) a holiday), and the list goes on and on.

Professional traders do not use excuses (they do not need to because they are trading correctly), so if you are a trader that does use excuses to explain your trading, you need to recognize that it is your trading that is the problem, not something or someone else.

Using the excuses mentioned above (which are some of the most popular excuses) as examples, if your trading is not profitable on every chart time frame then your trading is not based upon market dynamics, if your stop loss was reached just before the market moved in the direction of your trade then you placed your stop loss incorrectly, and if your trading is not profitable around holidays then you are not trading correctly.

This week the series continues, and my article about calculating the size of a stock market trade provides the formulae for calculating the number of shares that can (or should) be traded for a trade on a stock market (i.e. an individual stock).

To start with, my article about calculating the size of a futures market trade provides the formulae for calculating the number of contracts that can (or should) be traded for a trade on a futures market.

The US, European, and Asian news releases for this week are as follows (all times are Greenwich Mean Time, which is two hours behind Central European Time, and four hours ahead of US Eastern Time) :

There are several news releases from all three regions (the US, Europe, and Asia) this week. The US and Asia have five high volatility news releases each, while Europe has four high volatility news releases. Markets from all three regions will probably experience significant volatility and price movement throughout this week.

The US, European, and Asian news releases for this week are as follows (all times are Greenwich Mean Time, which is one hour behind Central European Time, and five hours ahead of US Eastern Time) :

Monday: FOMC News Conference at 2:10 AM
Tuesday: Trade Balance at 1:30 PM, and Economic Optimism at 3:00 PM
Wednesday: Oil Inventories at 3:30 PM, and Beige Book, and Budget Balance at 7:00 PM
Thursday: Retail Sales, Unemployment Claims, and Import Prices at 1:30 PM, Business Inventories at 3:00 PM, and Natural Gas Storage at 3:30 PM
Friday: CPI, and Manufacturing Index at 1:30 PM, Capacity Utilization Rate, and Industrial Production at 2:15 PM, and Consumer Sentiment, and Inflation Expectations at 2:55 PM

This week's US news releases that should cause high volatility are shown in bold type. There are several US news releases this week, and five high volatility news releases. The US markets will probably experience significant volatility and price movement throughout this week.

Europe

Monday : France Industrial Production at 7:45 AM, and Switzerland Retail Sales at 8:15 AM
Tuesday : UK Retail Sales, and House Price Balance at 12:01 AM, France Budget Balance at 7:45 AM, and UK Trade Balance, and HPI at 9:30 AM
Wednesday : France CPI at 7:45 AM, Italy Industrial Production at 9:00 AM, UK Manufacturing Production, and Industrial Production at 9:30 AM, and UK GDP at ??:?? ?? (Unknown Time)
Thursday : Germany CPI at 7:00 AM, EU Industrial Production at 10:00 AM, EU Minimum Bid Rate at 12:45 PM, and EU Central Bank News Conference at 1:30 PM
Friday : Germany WPI at 7:00 AM, Switzerland PPI at 8:15 AM, and EU CPI, and Trade Balance, and UK Leading Index at 10:00 AM

This week's European news releases that should cause high volatility are shown in bold type. There are several European news releases this week, and four high volatility news releases. The European markets will probably experience significant volatility and price movement throughout this week.

Asia

Monday : Australia Job Advertisements at 12:30 AM, China New Loans, and Money Supply at ??:?? ?? (Unknown Time), New Zealand Business Confidence at 9:00 PM, and Japan Bank Lending, Current Account, and Money Stock at 11:50 PM
Tuesday : Australia Home Loans at 12:30 AM, and Japan Economy Watchers' Sentiment at 5:00 AM
Wednesday : New Zealand Commodity Prices at 2:00 AM, Japan Machine Tool Orders at 6:00 AM, New Zealand Building Consents at 9:45 PM, and Japan Machinery Orders, and CGPI at 11:50 PM
Thursday : Australia Employment Change, and Unemployment Rate at 12:30 AM, Australia Business Confidence at ??:?? ?? (Unknown Time), and China Foreign Direct Investment at ??:?? ?? (Unknown Time)
Friday : No News Releases

This week's Asian news releases that should cause high volatility are shown in bold type. There are several Asian news releases this week, and five high volatility news releases. The Asian markets will probably experience significant volatility and price movement throughout this week.