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Discipline Equals Profits For Market Timers
The winning market timer is the disciplined market timer. That very simply
means he or she chooses a specific, dependable, market timing strategy
and follows it.
How Easily Discipline Can Fail
The volatile market swings we are now experiencing are a perfect example. While
certainly not typical, these huge up and down days can cause new market timers
to freeze up and not follow important buy or sell signals.
It is hard to BUY on a day when the market is down. It is hard to SELL
into a rally. But unless we want to be one of the losing masses, we must
execute the trades.
Yes, current volatility is high, but experienced market timers know
that such times usually occur right before a new (and often hugely profitable)
trend starts.
The point is... following your emotions will cost you money. Following
one or more of Fibtimer's timing strategies will make you money, and
importantly, will not allow you to take large losses in capital.
What Better Reason?
People differ greatly in terms of their ability to maintain self control and
discipline. Those differences are why we write this weekly report; to drive
home the fact that without following a timing strategy, most market timers
and traders will be doomed to failure.
Some market timers have no trouble whatsoever sticking to a plan. But others,
when it is decision time, will find a reason "not" to take the trade. After
some time passes, and they realize they have missed a profitable trade, they
take the trade but enter at a price that is much higher or lower than was available
had they followed the plan
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| "Some traders make
the mistake of assuming they can just "wing it" when the
buy or sell signal comes. But this approach presents an
excellent opportunity for the collapse of discipline" |
They may or may not make a profit, but the odds have certainly
turned against them.
And what happens if the trading plan then calls for a reversal? A reversal
that would have been profitable had they taken the initial trade?
You know the answer. What better reason could there be to... again... NOT
take the trade. This is when hope enters the picture, and hope is usually
the second to last emotion felt before fear, which is followed quickly
by losses.
Develop Trust
Let's consider a few ways that self-control and discipline can be maintained
when making trading decisions.
First, you must develop trust in your timing strategy. You should know
exactly what you are going to do when a signal tells you to enter a trade,
and what you are going to do when a signal tells you to exit.
One way to develop trust is to study the "Trade History" pages on our website
for each strategy. A link to the complete real-time trade history for each
strategy is on every FibTimer report. You will see that there are losing
trades, but these are kept very small. You will also see the large winning
trades which make the strategies successful over time. By looking at the
trading histories, you will develop trust for the strategy you plan on
following.
Be prepared, and be willing, to make the trades when the signals are issued!
| "A link to the complete
real-time trade history for each strategy is on every FibTimer
report." |
At Fibtimer, we provide the buy and sell signals. We will make
sure you know what to do well before the trade needs to be executed.
We will also explain why the trade needs to made, and often the
previous several weekly reports will have discussed the probability
of an imminent change.
Some traders make the mistake of assuming they can just "wing it" when
the buy or sell signal comes. But this approach presents an excellent opportunity
for the collapse of discipline. It often leads to "waiting" to see if the
trade is successful before taking it.
The problems with this logic are obvious, but they are not as
obvious when it is time to make the trade and you are looking for
a reason to delay making the decision.
Develop Confidence
Perhaps one of the best ways to maintain self-control, is to feel "confident" as
you execute the buy and sell signals that we issue. You "know" that over
time they will be successful. You "know" that during sideways markets the
signals will exercise good money management techniques and keep any losing
trades very small.
It's healthy to be skeptical, but if it interferes with your ability to
follow the trading plan, skepticism will cost you money. You must execute
the buys and sells with unwavering confidence. You can't second-guess.
You must follow the trading plan with absolute assurance that over time
you will succeed.
How do we post the excellent trading results that have been attained in
our various timing strategies? Because the reports follow a disciplined
plan. They follow the buy and sell signals without question. No if's, and's
or but's. Accordingly, over time, they show the profitable results of sticking
to the plan.
Over time, disciplined trading becomes easier. But be careful not to minimize
the importance of self-control and discipline. The more disciplined you
can be, the more profits you will realize
Recent articles from the Fibtimer market timing services;
© Copyright, Market Timing Strategies, Inc.,
All Rights Reserved.
Fibtimer reports may not be redistributed without
permission.
Disclaimer: The financial markets are risky. Investing is
risky. Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy or
sell any security. Opinions are based on historical research
and data believed reliable, but there is no guarantee that
future results will be profitable. |
