Portal | Trade Time Duration Part 1 (Short-term)Patience is key. That's our saying. Whenever we enter a trade, patience is key. Whenever we buy, we must be patient. Waiting is absolutely necessary to achieve success in this game.
We have mainly three time horizons in mind; Short-term, mid-term and long-term.
We are talking exclusively about our trades, our charts and our system, because each individual or group uses different time durations for these terms.
When we see a "fast" or "short-term" trade, we are referring to a time period of at least 30 days (1 month). This is the minimum ever that we would have to wait to see at least some action with our calls.
➖ If you bought yesterday, the pair cannot move today.
➖ If you bought yesterday and the pair moves today, nothing changes because it is still highly probable that you will have to wait. It doesn't matter what you like, how impatient you are or how anxious you can get, waiting is essential to achieve success.
Now, when we see a chart setup that looks good and it can move within weeks or days, or short-term, prepare to wait longer because the market has its tricks and a two weeks wait can turn into eight weeks or more.
When you are ready to wait patiently for an entire month, your target can hit but instead of one month it takes three months. We might give up and at the wrong time. Say you buy a pair hoping to reach 150%. It goes up 70% after 1 month, short-term, and then a correction takes place. The correction lasts three weeks and right when the bottom of the correction hits you sell, but we have a higher low. The trick is to wait, wait patiently focusing on the long-term.
Regardless of the price swings or anything the market does, a spot trader can do one thing and one thing only, and that is to buy and hold. After buying, hold. Holding you wait. Wait for everything to unravel. Your pair can move in a day, in a week or in a month, but the truth is that we cannot predict time because the bots adapt live to everything that is happening behind the scenes.
If too many people buy a pair because it looks good or because it is rising strong, the exchanges bots will sell and thus stop the growth. The process will continue to repeat.
Those without patience will tend to buy at the high of the wave and sell at the low, incurring loses each time. Those that read this trade-idea will know to wait patiently because it will move, but it takes time.
First comes the short-term. Within 1 month (30 days).
We will look at the mid-term in the next trade-idea.
Learn to wait.
Thank you for reading.
Namaste.
