Importance of Timing In Trading Forex
Online broker review and comparison site IndependentInvestor.co.uk has said that the importance of good timing in trading forex should not be underestimated, posing the potential for significantly increasing gains and limiting losses.
Online, June 26, 2013 (Newswire.com) - Forex broker comparison engine and review site Independent Investor has today urged traders to think about the importance of timing in successful forex trading, as a means of giving traders better odds of capitalising on market movements and prices corrections to their fullest extent.
Arguably one of the hardest forex trading skills to master, IndependentInvestor.co.uk said that by timing trades better, both at the point of entry and exit, traders could vastly improve their results and their success long term.
With markets moving in cycles, leveraged traders can capitalise on price movement most heavily at turning points, leading to many multiples better returns that those that make the same trade at a later stage in the price curve.
A spokesperson for IndependentInvestor.co.uk said that in general traders tended to have their timing all wrong on a natural, instinctive level, dithering for too long on entry and cutting out too soon on exit, creating a trading imbalance that detracts from the results.
"Timing can easily make the difference between a successful trader and a middle of the road trader. If you're in a position to be getting in on the best trades at the earliest possible moment, you're likely to perform far better in terms of the returns you can expect from your portfolio. Similarly, when it comes to exiting a trade, knowing when to call time and when to sit it out for that extra stretch can mean the difference between a success and a failure, and it's important that you strive for timing that delivers on both ends of the scale to achieve best results."
"Getting to grips with solid timing is all about having an in-depth understanding of how the markets work, the factors that drive their collective decision making and how you can read trading signals to capitalise on market sentiment. There isn't a rulebook for timing per se, but so long as you invest the time commitment going forward in getting up to speed with what's going on in the markets and countries in which you trade, you can hopefully develop a sense of when is best to strike in forex."
IndependentInvestor.co.uk provides free to access resources and reviews for forex traders at all ends of the experience spectrum, to help support trading knowledge, understanding and success.
About:
IndependentInvestor.co.uk is an online investment resource and broker comparison site, helping traders of all stages become more proficient and more successful in the financial markets. With materials ranging from how to open a trading account through to the fundamental commercial, economic and financial topics around trading, through to advanced forex strategies and analysis techniques, IndependentInvestor.co.uk goes all the way with a vast archive of resources authored and compiled by experienced traders.
The broker review section is amongst one of the most comprehensive online, giving independent traders the opportunity to compare different brokers across different instrument types at a glance to identify the optimum pricing and service levels for their trading needs - across contracts for difference, spread betting, forex, share dealing and a variety of other investment types.
