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Timing your trade

Discussion in 'Beginners Forum' started by Daisy, Oct 3, 2013.

  1. Daisy

    Daisy

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    As a newbie, you will also need to know what market time you will be trading in. This is important cause you will make more profit if its during peak business market hours and less money when there is no market open or end of the day or off hours. You can trade NYC, London, or Tokyo hours. On the broker site, they will have those market hours for you. When there are more than one market open, you chances of profits is much higher.
     
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  3. Pettyeve

    Pettyeve

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    Just as you have stated. A newbie trader should be abl to know the best time for him or her to be trading so that he or she will also be taking care of other things. The newbie can start with The NYC or Tokyo session.
     
  4. kasual

    kasual

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    Require to determine the session of market if traders use intraday style of trading. Usually, intraday traders choose to trade in london and new york session since that is the time when market being volatile. But if traders choose to use long term approach in trading, entry timing not based on market session. But when trend momentum changed.
     
  5. Decub

    Decub

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    Requires also that the trader understands the factors that move the market. When trading with the news, there is always the need to time yourself to ensure you go in at the right time. Earning in Forex is all about timing. A good market timing gives you the best entry and exit point and for the trader to make profits from Forex, he must time well.
     
  6. sindarin

    sindarin

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    It is right, all traders that want to be a successful trader must know the right time to trade, there is no any excuse for this thing. For example: if a trader prefer to against the trend when the trend is strong go for the other side, i think that is not a wise decision and also isn't a good timing for trader.
     
  7. kasual

    kasual

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    Trade at the good timing explain that traders will get profit. However, difficult actually to define to good timing. Since its generated by assumption only. Though we cross check the fact with fundamental or technical analysis, doesn’t give guarantee that our good timing is market good timing.
     
  8. Bonyi

    Bonyi

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    Yes you're right. It is important that newbies know the best time to open trades as more profit is made when you trade in the appropriate time.
     
  9. UMOFX AIR

    UMOFX AIR

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    Knowing about right timing for trade is important for traders . People say that true entry is a main thing that leads towards profits if we enter at wrong time their is a difficulty to manage risk or go to profits.
     
  10. kasual

    kasual

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    Not every circumstances of market provide entry setup. Sometimes traders need to wait long enough to see the good entry setup appear. However, trade at the good timing give chance to traders to get profit. Than they are trade when the market give no opportunity. Require patient and discipline attitude to follow the strategy signal. If traders want to trade at the good timing.
     
  11. Decub

    Decub

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    What makes a good trade is also in the timing. Knowing the best time to enter or exit a trade helps you make it accessible to you in the sense that you stand a lesser chance of losing. The best trader is seen in the fact that he doesn't always enter the market because there is this point for him to, rather, because, he sees chances to.
     
  12. kasual

    kasual

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    Traders can trade whenever they want. However, does not mean that they should open position whenever they want. If traders trade with strategy guidelines, they’ll able to know when or where they should open positions. Market move uncertain, and if traders careful, they’ll able to make the risk of loss remain minimize.
     
  13. budado

    budado

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    That's right. I'm sure its just a matter of time. I can really make good amount of money each month. Slowly but surely I want to try to build my trading account and make so much profit without really getting any problem.
     
  14. Lee Mark

    Lee Mark

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    Hope for the best! But I thing I want to remind you, there is no guarantee so, please don’t try to avoid money management and risk management rules! Besides, for being a consistent trader you have to trade with a fixed trading strategy or system.
     
  15. sininfinity

    sininfinity

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    Well good entries can also be missed if price does not move according to your expectation. Like yesterday I missed an opportunity. Put a pending order at 1.23490 after price broke the support but price did not retrace that high and moved in a sideways manner. This happens when your approach is conservative. lol
     
  16. Tom Latham

    Tom Latham

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    Hello mate, I am really interested to know your current trade status. Are you available here?
     
  17. alina.marabar

    alina.marabar

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    thanks. Your advice is very logical. this will be the provision for me to trade.
     
  18. Svetlana Loboda

    Svetlana Loboda

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    I have similar experience; that’s why now I am not using the exact same levels of S/R! need to set my entry points with a buffer strategy!
     
  19. sininfinity

    sininfinity

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    My entry points does not use exact same levels. But it is a plus if they hit there. I usually decide my entry point based on candlesticks appears on the chart.
     
  20. Tom Latham

    Tom Latham

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    That’s really cool; no doubt, price action is one of the most effective way of understanding market context
     
  21. sininfinity

    sininfinity

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    Yes it is lol

    Some people who uses other methods may not like it but they can't deny it either. lol