It’s interesting when you consider that now a days – I spend far more time “out of the market” than in.
For as much time and effort spent, you’d likely think the opposite but….as the years go by, and as you learn to “pick your spots” – you find yourself doing a lot more waiting around than anything else.
I know it’s difficult when you are first starting out. Every “blip” feels like an opportunity lost and every minute feels like eternity while you eagerly await the next chance to trade. You practically “jump” at every little move – envisioning yourself “hitting the next big one” time and time again.
That doesn’t happen to me anymore. In fact, I can’t remember the last time my heart raced – let alone picked up a few beats. Finally you come to a point where “you make your plan”, you “trade your plan” and the plan just works.
I’d say the amount of time “in the market” vs “out of the market” is likely 25% of the time.
I dig into smaller time frame charts for fun, and place little trades here and there, but for the most part I’m usually sitting near 85% cash – watching and waiting for the next “real opportunity” to come my way.
Granted….these days – they don’t come as often as I’d like either but…….you can’t “make it happen”. You need to learn to be patient.
Oh! Oh! What’s that I see? Is the Dollar rolling over? No! It can’t be! Oh and what’s that as well? Is the Nikkei even gonna “make it” to 16,000? Is that GBP still pushing higher, do I see a “touch of strength” in JPY?
You’ve really got to love it when a plan comes together.