Page 1 of 2 12 LastLast
Results 1 to 10 of 17
  1. #1
    Administrator Martin Kay's Avatar

    Efficient Time Management - How to produce more from you Time. !!!

    Hi guys. I wanted to start this new discussion especially for beginners, as it seems like most newbies today just do not understand the connection between efficient time management and successful trading. I've already published one article on time management; the second and more practical article will be published in one week. Until than, let's talk about time management - how to extract more from your time? When to trade? How long should I trade on a single trading session? When to stop??

    Looking forward for your replays, I truly believe that the time is key when it comes to trading, psychologically and practically.

    Originally posted by Martin Kay. For the Full review click here.

    There’s a big different between what we do as a hobby and what we do for living. The lucky ones among us are those who work in what they like, most of us would just have to keep doing their hobbies on the evening or on weekend. Unfortunately for us trades, there’s no trading on weekend, so all the time we have for trading is early morning or on evenings, some of us even wait until late night time to trade. Professional traders, when they wake up, they start trading and trading until the day is done. Then they trade again. They trade out of instinct, just like a doctor treads a patient or a Chef makes his dish. We part time traders only have a certain limited time frame to try and fulfill our dreams of getting rich, yet it seems like we try too hard. Instead of generating profits on our spare time, lots of newbie/ part time traders suffer losses. It’s not the quality or potential of the new trader, it’s the uneven equation between expectations (=profits) and resources (=time)...


  2. #2
    Master Member Bogdan G's Avatar
    Quote Originally Posted by Martin Kay View Post
    Hi guys. I wanted to start this new discussion especially for beginners, as it seems like most newbies today just do not understand the connection between efficient time management and successful trading. I've already published one article on time management; the second and more practical article will be published in one week. Until than, let's talk about time management - how to extract more from your time? When to trade? How long should I trade on a single trading session? When to stop??

    Looking forward for your replays, I truly believe that the time is key when it comes to trading, psychologically and practically.
    I've just finished reading it and I really enjoyed it. Although I like the whole article and I'm looking forward to the Time Management Guide, this is my favorite part: "If you’re a part time trader and you’re trading with your rent money, you’re in the wrong business mate. Stop now before you lose it all." Best piece of advice you could ever give to newbies. Lol, I'm considering using it as my signature.

  3. #3
    Rookie Member
    Time Management is important as especially in case of Options, the more time the trade remains active the more premier it absorbs but at the same time it should be kept in mind that a certain substantial amount is required for each trade.

  4. #4
    Rookie Member
    The article is really good and gives a good insight of the relationship between time and trade management.

  5. #5
    Master Member Bogdan G's Avatar
    Quote Originally Posted by Zee579 View Post
    Time Management is important as especially in case of Options, the more time the trade remains active the more premier it absorbs but at the same time it should be kept in mind that a certain substantial amount is required for each trade.
    Erm...Binary Options do NOT absorb premiums. Vanilla do! If you state that Binaries absorb premiums, you state that Binaries are somehow affected by the Theta Greek??? Can you please explain how Binaries are affected by the time value decay Greek - Theta???
    Thanks.

  6. #6
    Master Member vinayakm's Avatar

    Cool Read the whole thing !!!

    Quote Originally Posted by Martin Kay View Post
    Hi guys. I wanted to start this new discussion especially for beginners, as it seems like most newbies today just do not understand the connection between efficient time management and successful trading. I've already published one article on time management; the second and more practical article will be published in one week. Until than, let's talk about time management - how to extract more from your time? When to trade? How long should I trade on a single trading session? When to stop??

    Looking forward for your replays, I truly believe that the time is key when it comes to trading, psychologically and practically.
    It was an enjoyable read to help me better manage time. I actually come from the angle that money is more important than time. But then again, I am relatively younger and have had much less trading experience.
    I do agree it is pretty tough for part time traders in the US as opposed to say Asia. If you were a part time trader in South Asia, after getting your 9-5 clocked in, you could just sit back and wait for the US markets to open while trading in the European markets that have already been open for some time.
    But one thing I can say with certainty is that this forum has really stepped up not just my binary options trading, but also my general stock trading ability.

  7. #7
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Management in anything leads to better results. For example we talk about risk management. If u r not good in managing ur risk, u would probably be loosing more than u earn. Similarly some people r bad money managers.
    Time Management is more important than money and risk management. If u r good in time management, it means u r well organized, focused to ur objective, u dont misuse the time and u r an effective planner. There r many other qualities u can have if u r good in time management.
    In forex trading or binary options, market is not worth trading all the time. For example if u r mainly dealing with currencies then overlap European and North american session is best for u. So even if u have limited time, u can utilize it better than full day sleepy-traders.

  8. #8
    Senior Member Grae's Avatar
    Quote Originally Posted by M.J View Post
    Management in anything leads to better results. For example we talk about risk management. If u r not good in managing ur risk, u would probably be loosing more than u earn. Similarly some people r bad money managers.
    Time Management is more important than money and risk management. If u r good in time management, it means u r well organized, focused to ur objective, u dont misuse the time and u r an effective planner. There r many other qualities u can have if u r good in time management.
    In forex trading or binary options, market is not worth trading all the time. For example if u r mainly dealing with currencies then overlap European and North american session is best for u. So even if u have limited time, u can utilize it better than full day sleepy-traders.
    True point M.J- important thing to look at is time vis-a-vis market volatility. You should also look at the volatility based on the different markets. London,HongKong,Newyork. A lot of volatility occurs during market hours overlaps.

  9. #9
    Veteran Member Ammeo's Avatar
    how to extract more from your time?--------> giving more time dont mean u'll make more .....give less time bt that shd be effective ,u shd know wt u r doing
    When to trade?-----> When u r almost sure the trade would go in your favour
    How long should I trade on a single trading session?------> Never overtime or overtrade ...believe me it never goes in ur favour
    When to stop??------>When u are in +ive and not fully sure on next trade ,just dont trade (also when u make a big loss ,dont open another position just by thinking it'll wash away ur losses ,take some time and come back with better strategy and setups)

  10. #10
    Veteran Member uj.forex's Avatar
    The easiest way of making consistent and profitable trades is to follow the following rules.... You must embed them in your mind....

    1 - Give more time to do analysis... Read charts, graphs, and indicators...

    2 - Decide what session and time the market moves in a relatively smoother way... And enter only then...

    3 - Never trade before the release of critical data, speeches, or press conferences... High volatility might ruin your trades...

    4 - Always harvest your profit once you are happy with what you see... Greed is an evil.... You can enter again in the market the next day and make profit...

    5 - Profitable trading is necessary even if it's a small amount of profit.... always better than bearing loss....

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
3