Timing is everything - time in forex strategy

Timing is everything - time in forex strategy

After having determined how much money exactly you can out on the line for the sake of trading you are to determine just how much time you are willing to spend in front of your computer or other gadget.

That is very important not only because of the dependency – the more time you spend trading, the more you can earn, but also because the amount of time that you are willing to spend trading is going to determine the type of trader that you are.

For example, to be a short trader requires more of your time spent in front of the chart and news.

If you are willing to become a long trader, then you are not going to have to pay that much time in your trading space.

And while these two types of traders are the most well-known, there is always a third. And the funny thing is that the most of us are falling under the definition of this third class of traders – scalpers.

Scalpers are those who are thinking that they spend 8 hours a day trading but in reality it Is roughly 5-6 hours, how so? Well, we spend a lot of time not reading the chart and looking for the news, but selecting the perfect song, making coffee, watching cat videos on YouTube and so on.

Get it?

You think you spend 100 percent of trading time and trading attention on the trade, but it is not true.

Plus, trade is not the only thing requiring your time in a situation like that.

There is:

  • looking for entry point
  • Entering the trade
  • Managing the trade
  • Exiting on the right note
  • Filling out trading journal
  • Checking your trading plan for the next goal
  • Repeating all the step.
It takes much more time than you would think, trust me.

And this is how the trading system work. So, before ever going into trading think – can you afford it time-wise? It is just as important as money after all.

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