Emotional Control
The hardest thing in trading is actually keeping it together. Since we are emotional creatures we feel first and run the intellect later which means mostly we learn through experiences and only bad ones makes us wiser.
So it is obvious that sooner or later along the line we will have at least one bad experience that is going to burn our tongue and hopefully we won’t do it again.
So how can we use time and price to overcome emotional ups and downs while trading.
The more known variables we have in an equation the more secure we will feel and accordingly more in control.
Lack of planning and risk management is obviously the prequel to Part 3, however is there a way or something additional we can do to increase our success and reduce the uncertainty?
Yes. This is where time price trading comes in to play.
If I know the highly likely swing days coming up, the swing hours in the days that I am trading and have a good pricing strategy or calculation I can reduce uncertainty, stabilize my trading approach and have a higher level of success without the emotional baggage.
Swing days calculated in advance with the swing hours will give you the days to trade or to plan towards and the specific hours to trade at.
In addition to that if we know the monthly, weekly and daily price levels we can trade specifically at a time when these price levels are matched.
The important thing here is to match time and technical analysis price. If you are doing your own technical analysis and you are good with that, that is absolutely great! Then all you have to do is to match time to your technical analysis and trade then and do not trade in any other setup.
This approach has several advantages to just technical analysis:
- No fear of missing out (FOMO).
- No over trading.
- No news worries.
- No information overload.
- No analysis paraliysis.
- No compulsive trading.
- No decision fatigue.
- No overthinking.
- No need for constant updates.
- No burning out in front of the monitor.
Traders go through many emotional states because we are human and as humans we are always having to deal with the things life throws at us. So keeping trading simple but accurate, consistent and smooth is more possible than with any other approach.
Link to the YouTube Video of the blog post: https://www.youtube.com/watch?v=KwBymjmYkxo&t=1s
