When it comes to trading, TIME is something that is a key factor for several reasons:
- When learning to trade you need to put in the TIME to gain experience in the markets for which there is no substitute.
- When looking for trades you need to put in the TIME in terms of the planning and preparation in order to prevent poor performance.
- Each candlestick is measured in a period of TIME.
- Trading Platform Charts have different TIME frames available
- There are days and times during the day when it may not be the best TIME to trade and others when it may be the best TIME to trade.
- There are times in your life when it may no be the best TIME to trade.
- Sitting on your hands waiting for the right trade setup to come to you rather than forcing the market requires waiting TIME.
- TIMING your trade entries with precision requires planning and patience.
- Gauging whether to stay in a particular trade that is not moving, may come down to a period of TIME elapsing.
- To get the best out of a Swing Trade may take a considerble TIME.
- Your availabiity to trade and how much TIME you can spend trading maybe a considerable restraint.
- Giving a longer term trade enough TIME to get going can test your patience.
- When looking at your charts TIME can fly by without you noticing.
So you can see that TIME has to be utilised and managed appropriately when it comes to trading.
Top Trading Tip: Develop an awareness of TIME and how it relates and affects your trading. Master your TIME and don’t let TIME master you when it comes to trading.