One of my fellow trader asked this. Is it possible to time the market??
I thought for a while. I used my creteria to find the answer. When to enter a trade is big thing in trading even in investing journey. But how??
First I defined my time frame. Let's say I am intraday trader and so I would be more dependent on 5 min and 30 mins time frame. I opened chart and zoomed in my window. Then I marked levels of support and resistance with 30 mins. Now with 5 mins I started finding the movement of stock. Obviously there would be buyers and sellers so there is much likely of swing.
So using the swing I have to find the right point where I can enter a trade. With that being said, what I did was I waited till it reached to that level or nearby. Most likely I found that the price reach to the level we expect or even better than that. Only the patience might reward better than anything.
Conclusion
you have to wait to time the the market. How to track them?? Easy, after every good move it takes time. So when it have given you a move. Wait at least for a day or two or sometime 3 days. Keep in watchlist.
Mark S&R-wait-enter-given move- wait for 1-2-3 day- enter and repeat.
Guys hope this would make some sense.
Any suggestions welcome??
Note: I am not an expert. Just my view.
I thought for a while. I used my creteria to find the answer. When to enter a trade is big thing in trading even in investing journey. But how??
First I defined my time frame. Let's say I am intraday trader and so I would be more dependent on 5 min and 30 mins time frame. I opened chart and zoomed in my window. Then I marked levels of support and resistance with 30 mins. Now with 5 mins I started finding the movement of stock. Obviously there would be buyers and sellers so there is much likely of swing.
So using the swing I have to find the right point where I can enter a trade. With that being said, what I did was I waited till it reached to that level or nearby. Most likely I found that the price reach to the level we expect or even better than that. Only the patience might reward better than anything.
Conclusion
you have to wait to time the the market. How to track them?? Easy, after every good move it takes time. So when it have given you a move. Wait at least for a day or two or sometime 3 days. Keep in watchlist.
Mark S&R-wait-enter-given move- wait for 1-2-3 day- enter and repeat.
Guys hope this would make some sense.
Any suggestions welcome??
Note: I am not an expert. Just my view.
Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.
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