Understanding "When" to trade. - page 5.

Strongkored

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Quote from: Rruchi man on March 26, 2022, 11:07:46 AM

- During Major news events.
- When you are emotional unstable.

These 2 things are interconnected usually when we read the news that is very likely to affect the market will make us become in a hurry to open a trade and make emotions become unstable, these two things should be avoided if do not want to experience losses because of taking positions in a hurry and the result is a mistake.

Mpamaegbu

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You're right, OP. People don't get to be called traders because they're always in trades every day and time. There are days professional traders stay off trades. Monday (in Forex Trading) is said to be a day the market wakes up from its weekend slumbers while Friday gets it into the weekend mood. The market is majorly slow on these two days. Also, traders should learn not to trade every pair. Pick only ones you can read and analyse their body language. I know of a trader who trades only a pair and he's very profitable at it. Back to the crypto market that doesn't sleep 🤔, it's enough temptation to make traders think they can always be in the market because of that. That's a wrong approach. One should mark days of high chances to get profit, when the market is very active and with nice trading volume. From my observation, Sunday and Monday aren't the best of days to be in the crypto market, trading.

worle1bm

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There is difference in the crypto market and traditional stock market as the later one is closed on weekdays and some holidays also so no trading is done at all but the crypto exchanges have online business and active all the weekdays.So it you say about this then only for me Sunday is the free day where no trading is done and only market analysis is the work on that day.I usually make my next decisions on free day and study the past patterns.But usually have to relax our mind once a while so for me it's Sunday.But we all can have different approach in trading as it suits us.

ibuddy122505

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Quote from: Viscore on March 28, 2022, 04:40:02 PM

Quote from: Sterbens on March 26, 2022, 01:25:51 PM

Because a person's trading preferences certainly have different angles and readings of conditions. As for me, there is no exact time benchmark and can really determine when and what days to avoid. Because for most other traders, while their analysis says that prices are open to entry in a short time span, then they definitely will. The market runs 24 hours non-stop, but it's only about volume at any given time that makes the difference. It is also always adjusted to the condition of the news that is obtained.

They say the best time to trade is when the market is stable and has no negative news currently happening. I think this is very true as we need the right timing to trade and the best entry is when the market is not crashing, not totally pumping, but more on a stable condition. You will only recognize this if you are a frequent trader as you can create differences based on the results of your trades. Although no trades can be perfectly done, but they can be perfectly right if you always trade with its right timing.

It could be complicated for individuals, as when to trade totally dependent individual activity. Bitcoin block chain isn't owned by institution that could be regulated even if they want to. Complete industry as an idea or design to uncertainties and volatility. It's hard to come up with certain decision, so recognize the right time to trade pure difficult thing, only luck and enough knowing on this market can help you. Taking out my profits is all about my concern then jump in later once goes back down. Unless do nothing and wait until the right time.

strunberg

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Quote from: Viscore on March 28, 2022, 04:40:02 PM

They say the best time to trade is when the market is stable and has no negative news currently happening. I think this is very true as we need the right timing to trade and the best entry is when the market is not crashing, not totally pumping, but more on a stable condition. You will only recognize this if you are a frequent trader as you can create differences based on the results of your trades. Although no trades can be perfectly done, but they can be perfectly right if you always trade with its right timing.

its give us steady growth and less volatility, trade in this condition was very ideal to gain maximum profit with less risk. negative news creating high volatility in market so we often to see alot trade liquidate in market , but for expert traders actually this condition was good to enter market to take swing posiiton.

Viscore

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Quote from: Sterbens on March 26, 2022, 01:25:51 PM

Because a person's trading preferences certainly have different angles and readings of conditions. As for me, there is no exact time benchmark and can really determine when and what days to avoid. Because for most other traders, while their analysis says that prices are open to entry in a short time span, then they definitely will. The market runs 24 hours non-stop, but it's only about volume at any given time that makes the difference. It is also always adjusted to the condition of the news that is obtained.

They say the best time to trade is when the market is stable and has no negative news currently happening. I think this is very true as we need the right timing to trade and the best entry is when the market is not crashing, not totally pumping, but more on a stable condition. You will only recognize this if you are a frequent trader as you can create differences based on the results of your trades. Although no trades can be perfectly done, but they can be perfectly right if you always trade with its right timing.

Finestream

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Quote from: CryptopreneurBrainboss on March 26, 2022, 06:35:11 PM

For those thinking timing isn't a necessity for having a successful trade they should have a rethink. You don't go trading when the news is out there of some negative directives been issued towards the industry. You can only end up losing as the market will be moving in an opposite direction to your calls
this situation only favours you when you're probably shorting then will the market move to your calls.

As a trader you must not follow all the guidelines given by the OP and by others on thread as you have to look for what best works in your favor and those suggestions mightn't. Trading is about developing a strategy that suits you and trade consistently until your perfect those strategy and become a professional yourself. One common mistake the average traders do in this industry is trading hype/new coins especially on the day of listing.

There's always the right timing to trade, and you should have known it before you start trading. But you can't expect for a perfect trade, your trade will only be successful if you trade with the good analysis of the market and you trade with your own proven strategies. Otherwise, you will only lose in trading because you insist to trade despite of the negative market condition, or you end up trading with the wrong coins or the hyped coins.

nurilham

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It's a important thing, a trader has to understand good comments to trade because that's how they can make a profit on trading. it is true to say that on certain days it would be good to trade. This is an important thing before trading, namely understanding the market so that we can see the right moment to sell or buy coins. That's why a trader must be able to read charts and analyze the market so that we can follow the crypto market and start trading. If you are asked when is the exact time to sell or buy coins, as said, it depends on the moment, so you have to be more patient and careful.

tvplus006

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Quote from: Rruchi man on March 26, 2022, 11:07:46 AM

Knowing the HOW to trade is one thing, another is knowing the WHEN.

It all depends on how much time you can devote to trading. And if this is the main source of income for you, then you will not pay attention to what day of the week it is, you will constantly monitor the market and open orders accordingly. If you have an office job and trading is an additional income for you, then it is enough for you to focus your efforts on medium-term trading.

pragna

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Quote from: Rruchi man on March 26, 2022, 11:07:46 AM

Knowing the HOW to trade is one thing, another is knowing the WHEN.
As a trader (crypto & forex), it is bad to trade every time the market opens up. The best and most profiting traders are not those that trade everyday, but take a targeted approach to trading.

For me, I know for sure that i do not like to trade on Mondays because that's when i take analysis to know which way the market will go for the week. Trading days for me are usually on Tuesdays and Wednesdays, the market moves better on those days for me.

Some other times not to trade as well are;
- On holidays.
- During Major news events.
- When you are emotional unstable.

I think it does not work on internationally. Because internationally holidays are not same and specific days also can not match. Actually i think trade fully depends on update news from team, roadmap work from team, crypto news also around us. as for example when covid season, maximum people invested their money from home in crypto market so that market was high instead of down. So situation is main fact it think.

Alisha-k

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Quote from: teosanru on March 26, 2022, 12:07:47 PM

Are you serious about not taking a trade when market opens up? In stock markets i have seen 80% of traders taking trades when market open up, that is the best phase because you get the most volume and can easily play on the momentum of any stock, after half an hour the volume stabilizes and then it's difficult to expect big movements in any stock without volumes many patterns are also difficult to validate. Rest all i agree that you shouldn't trade in certain times but surprised to see you don't trade when market opens up.

That's why it's best to run a personal analysis of the market and not to work with other people's analysis all the time.
This is just OP's observation from his own analysis, I for one trade on Monday's too, it may not be the most favourable day in the week but it usually yield increase mosr of the time.

Reid

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We have our own "holidays" when we take the day off and calculate the things we made either weekly, biweekly, or others takes it as monthly basis like they are employed. Day trades takes a lot of work, I don't recommend it for those who are in a starting phase.
The "when" is such a complicated issue. There are times the market moves when you least expected it and when you have the traditional belief of the time when traders take their rest, that's old school.
There are new traders now and it could also affect the market by a great number and they don't have such a rule for their routine.

Ahli38

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I will trade when my psychological state is healthy or calm. not having a problem.
because in analyzing the market in need of clear thinking and calm.

and I usually analyze on Saturday and Sunday. and start trading on monday. but sometimes i start buying assets on the last sunday or on monday night. because like there is a price discount. ie decrease. but not always like that every week.

And of course don't enter the market every time you see the market. but many beginners lose because they always want to trade and earn every day. so that their minds in analyzing market conditions are not careful because they are done in a hurry and with an uneasy mind. because they feel every day must make a profit from the results of trading. it also happened to me at the beginning of the world of crypto trading.

NicNacCoin

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For those who trade professionally, the trading market is always the same for those who trade all the time.Because they have enough knowledge about the market.They never trade roughly like us. They do market analysis and then trade.But we should all realize that when the market is dumping the most, we should buy and then trade.The emerald market will rise a little above the maximum dropping and then you must have a profit.

Alisha-k

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Quote from: Rruchi man on March 26, 2022, 11:07:46 AM

- On holidays.
- During Major news events.
- When you are emotional unstable.

When trades are on holiday for forex then you can switch completely to crypto trading. During major news events for me its a swift time to take good advantage of the high volatility because in cases like this we experience very high spikes. The only time i will avoid trading is when my emotions go soar. i will avoid trading completely

palle11

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Quote from: Scripture on March 27, 2022, 04:48:26 PM

Medium to long term trader are more successful compare to a day trader,

This is not verifiable. I have read traders who doesn't agree also with this. Long term, medium or day trading are all strategy to trade for profit. In fact, day trading is suppose to be more profitable because it is faster and you can go in again after a trade ends but the fact is that no one trading strategy is better comparing it with the other type of trading but we have the choice to use the one that we prefer base on our experience.

Scripture

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Quote from: palle11 on March 27, 2022, 04:39:12 PM

Quote from: Qikiye on March 26, 2022, 06:47:19 PM

A successful trader basically does not want to trade all the time. He wants to set any specific day of the week by doing market analysis. However, if the market conditions are favorable, it can be traded any day of the week.

Apart from days to trade, successful traders too have been able to understand that it is not profitable to be in market all day as the news can hit your order and change the direction of market. They have also attached themselves to some pairs which they usually make profit from and in such trade strategy, you can see very few pairs being traded and not too many pairs that will look confusing.

Medium to long term trader are more successful compare to a day trader, so i agree that we should not always in the market and better to understand the good timing when you buy and sell. There’s a lot of analysis needed for you to understand on when to buy and sell, at first you need the strategy so you can have your target price the next thing to do is to wait for that price to happen so you can sell next.

palle11

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Quote from: Qikiye on March 26, 2022, 06:47:19 PM

A successful trader basically does not want to trade all the time. He wants to set any specific day of the week by doing market analysis. However, if the market conditions are favorable, it can be traded any day of the week.

Apart from days to trade, successful traders too have been able to understand that it is not profitable to be in market all day as the news can hit your order and change the direction of market. They have also attached themselves to some pairs which they usually make profit from and in such trade strategy, you can see very few pairs being traded and not too many pairs that will look confusing.

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Quote from: rhomelmabini on March 26, 2022, 03:17:13 PM

I don't think there's a perfect timing when to trade, it's always not perfect. I mean you can't find a perfect timing when to trade, crypto is too volatile and it fluctuates too often. You may think as if always has no timing when to trade in the crypto market, no idea on the forex as I'm not familiar with it.

Knowing how unpredictable the trading market is, you will never know when is the perfect timing to trade, but you will know for sure it's the best time to trade. Knowing when to trade is a very vital part since you are not risking your own money, but also your time and effort. So as much as possible, you will only trade if you see the timing is right, not perfect. And trading with stable emotions and having a good market analysis is always the best time to trade as you become more positive to gain good profits than losses.

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Quote from: Flexystar on March 27, 2022, 03:01:49 PM

These all thoughts came to mind when I read the OP. So yes definitely I’m going to work on the proper entry and exit strategies to reduce the losses.

Yes, traders wanted to make everything be in perfect timing, aiming to buy at a lower price and then perfectly sold it at the peak price. However, it was just very unfortunate that we can't make things be in good timing, we really missis more often due to the unpredictable trend of the market. So, what we gonna do by now is only to find a way to minimize our losses that is why we have to study the market so well. We use trading tools and indicators to help it out. This reminds us how important to have deep knowledge in the market and never think trading is so easy.

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