Definitely agree on this one. I think it’s one of the different advice I have read on the forum so far. Obviously we have to have proper timing and proper judgmental thought when we invest into crypto space. The market in here is way way different than what we experience in the share market. Here the timing plays crucial role no matter what because crypto is all about volatility. It’s changing the course all the time and hence you need to be very very picky when you are making the entry point.
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.
Topic: Understanding "When" to trade. - page 6. (Read 849 times)
actually i am an holder i don’t like daily trading . but some time i take entry when i see a major news about any token or coins. like new product launch , blockchain upgrade, partnership, new top exchange listing, token buran etc .
Holders feel more calm and less panicked about temporary increases and decreases. Especially when the negative news in the market started milling about. Holders tend not to want to know all the time market movements. That's what makes us psychologically safer, rather than being daily traders who have to accept some invalid market information.
if in forex, indeed in short-term trading, many avoid the hours of news that have a high impact, and also holidays. in cryptocurrency there doesn't seem to be a well-organized news schedule. therefore many traders are not greedy to open transactions at that time. they prefer to trade on normal days, with the hope that the market will move according to the analysis, maybe on Monday the traders' analysis doesn't work
Knowing when to trade is something important that every trader must know because they will have their own time when to trade. Some choose Monday to trade but they have analyzed the market since Sunday and checked the market movement a week ago. There are different methods for every trader so I think there is no right method about when to trade because that is based on how a trader will determine their time to trade.
Some traders will start to analyze and trade when the market is downtrend because that could be a good time to enter the market. But the other traders will search for other ways to enter the market. But never try to trade when your emotion is unstable because you will find it difficult to determine when to trade.
Some traders will start to analyze and trade when the market is downtrend because that could be a good time to enter the market. But the other traders will search for other ways to enter the market. But never try to trade when your emotion is unstable because you will find it difficult to determine when to trade.
I agree every trader has different trading strategies and methods, so surely every trader should know the best time to trade. We also need to look at
the market situation, the news circulating regarding crypto, our financial situation and also our emotional state. There are many things to consider
when is the best time for us to trade, sometimes everyone has a different time. So don't be influenced by other people, because Monday is not
necessarily bad for other people, but bad for us too. Only we ourselves know when is the best trading time, so try to ask yourself, because only
we ourselves know the answer when to trade. Even though crypto trading is open 24/7, does not mean we can trade arbitrarily at any time,
there are certain times that we should not trade. We ourselves have to learn from our trading experience so far, try to analyze when we usually
can make a lot of profit from trading.
Some other times not to trade as well are;
- On holidays.
- During Major news events.
- When you are emotional unstable.
- On holidays.
- During Major news events.
- When you are emotional unstable.
Very valid points on the timing of our trades. I agree with you that the When is most of the time more important than the How. If we buy right before the Dip than it doesn't matter how good our research was and if we picked the best coin, all prices are likely to fall. Having a general strategy for the current market position is good way to avoid such missteps.
Not trading during major news events is wrong though. In my opinion trading during big events can return very decent profits. In behavioural finance there is a whole subbranch that focuses on overreaction during crisis. In most cases traders will give too much weight to the current crisis and think everything is over, there is no tomorrow. Buying against the herd during such times can bring good returns. Of course not trading at all and waiting for the dust to settle is also better than panic selling.
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Knowing when to trade is something important that every trader must know because they will have their own time when to trade. Some choose Monday to trade but they have analyzed the market since Sunday and checked the market movement a week ago. There are different methods for every trader so I think there is no right method about when to trade because that is based on how a trader will determine their time to trade.
Some traders will start to analyze and trade when the market is downtrend because that could be a good time to enter the market. But the other traders will search for other ways to enter the market. But never try to trade when your emotion is unstable because you will find it difficult to determine when to trade.
Some traders will start to analyze and trade when the market is downtrend because that could be a good time to enter the market. But the other traders will search for other ways to enter the market. But never try to trade when your emotion is unstable because you will find it difficult to determine when to trade.
actually i am an holder i don’t like daily trading . but some time i take entry when i see a major news about any token or coins. like new product launch , blockchain upgrade, partnership, new top exchange listing, token buran etc .
Knowing the HOW to trade is one thing, another is knowing the WHEN.
(....)
This is one of the many lessons I learned when I started to trade. Know when to trade or not all the times are good to trade.(....)
It's not mean when you close your short position, you can open a long position immediately. This is one of the many mistakes of some traders, it's like they are always thinking that the market will always go by their side and they thought they are already missing an entry.
The simple answer for your question is now.Because the market had changed the lot.The correct way to trade is, dump market. When ever the price of certain things was reduced, it wil be enough to buy at the less price. Don't buy bulk some amount, because it also had 20% of bitcoin price back fire. When the price further reduced,you maybe the loser.
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.
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.
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.
Your stand only applies to what you have experienced, your situation, and could never be applied to all or even the most of traders. Some people prefer trading and having positions on Mondays especially on crypto as mondays often is the momentum of the market to recover from downtrend every weekends - as most whales also plays on weekdays and sells as Saturday approaches. Tuesdays and Wednesdays are often days before peak price in a week - which can also be an upward peak, or a bottom line peak.
Though, I still agree that everyone must take their emotional problems as a primary reason not to trade as it drags down how you think and perform. But all should also know that you shouldn't trade without a plan. Only trade WHEN you already made a solid plan -- a plan where you already know what to do when you encounter situations such as loss in trading.
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.
this situation only favours you when you're probably shorting then will the market move to your calls.
It isn't necessary in scalpers tho. Regardless of having a negative news, scalpers especially in Futures market only tends to technical trade.
- On holidays.
Commonly during the holidays and also weekends, I commonly will also avoid this time. The market is commonly very volatile and there are many surprises 
- When you are emotional unstable.
This is like a basic of trading. Emotional control is very important in trading. Whenever we are not ready or cannot control the emotion, better to calm down and take a rest for a while. Btw, actually, the term f "when" we are better to trade will also depend on what kind of trading we are on. The SPot market and future may be also different.
And if in the future, we can use hedging mode to be implemented for a certain market situation.
But exactly, it is difficult for me, especially because of not a professional trader
It is not that a trader will always trade because trading all the time will not bring anything profitable. However, a successful trader understands the condition of the market and then wants to trade. In particular, before going to trade, he must determine the right coins and budget for the investment.
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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.
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.
Well there is no time frame for me in trading, as long as I am in a condition to trade it is good to go.
When to trade when you are in a good condition --emotional is the most common factor to consider before you will start trading.
Regarding what day it is, perhaps every day as long as you feel it conveniently in trading.
However, the [WHEN] and [HOW] factors will depend on you.
When to trade when you are in a good condition --emotional is the most common factor to consider before you will start trading.
Regarding what day it is, perhaps every day as long as you feel it conveniently in trading.
However, the [WHEN] and [HOW] factors will depend on you.
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.
It basically comes back to the fact that not everyone trades the same and each person has their own strengths and weaknesses, and this may be one of them regardless how obvious it is for you.
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.
On forex then the market opens every Monday and here's some major events that you should look upon for whether you do trade or not.
Central Bank Rate Decision. Each month the world's various Central Banks meet to decide over the interest rates they are responsible for. ...
Gross Domestic Product (GDP) ...
Consumer Price Index (CPI) ...
Employment Indicators. ...
FOMC Meeting.
Source: https://www.equiti.com/blog/posts/2017/september/top-5-economic-news-events-for-forex-trading/
This is similar on crypto when it comes to news but the difference is that everything would really be on random.
Timing is very important in trading, it may not be easy but its possible to timing the market.
Analyze well, and you should not get distracted by any events just focused on your strategy. Knowing when to buy is the hardest part, the chart can tell this if you able to execute your analysis properly. Events can only be your guide and doesn’t mean you need act right away, you still have time to analyze.
Analyze well, and you should not get distracted by any events just focused on your strategy. Knowing when to buy is the hardest part, the chart can tell this if you able to execute your analysis properly. Events can only be your guide and doesn’t mean you need act right away, you still have time to analyze.
Both time and price are parts of chart, we traders have to consider both variables before deciding which direction we gonna trade and how long it will take. Limit orders are time-friendly, traders can choose the specific timeframe and set target price instead of staring screen in low level minute charts. Entry and exit price points can be based on time btw, you just have to feel the timing correctly rather than rate. The timing of the market can be wrong but you can compensate the potential loss with buying at the advantaged price levels. If you can't it will be a double loss in the long term since time ticks not in your favor. Just my 2 cents.
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.
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 somewhat agree with you regarding with trading on holidays but that of Monday I don't think I go with you on that because most of my profitable trading days has been that of Monday ,So I don't think that this is the major issues that most traders are faced with , someone with a good trading plan can tape into any trading market day except that of holidays you made metion and still come out profitability.
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