Timing Timing Timing

Timing is everything. We've all heard of the phrase "being in the right place, at the right time" and it is specifically true to investing. Knowing when to get in, and when to get out is a lot more important than the actual price of an underlying commodity. As a speculator you should be interested in trading price movement, and not its relevance to what you think or perceive the price of a commodity will be. Ultimately, the markets sentiment decides what the price will be, and focusing on direction rather than actual prices will help in your success.

Nobody can pick a top or a bottom, and if they do, its shear luck. Most novices will enter a market too early, and exit too late. What does this tell us? Novices are too anxious to try and make a profit, and typically exit too late because they don't like to admit they're wrong. You have to get in the mindset, that there is no mind-SET. You have to be willing to switch your thinking and ideology as quick as the market changes direction.

A trading motto that I like to practice is "I'd rather be late to the party, than the one paying for it." It is prudent to wait for confirmation of a change in direction, or continuance of a trend before establishing or adding to a position. A retest of support or resistance, will provide you the best entry point, with the least possible risk just above/below the support or resistance.

As a beginner you most likely will not have the knowledge to utilize certain indicators to pinpoint support and resistance and for this very reason we provide technical analysis free to all of our clients. Research is updated daily and can be accessed via our web-based trading platform under the 'Quotes & Research' menu.

Feel free to contact any one of our qualified brokers for a tutorial of all the services we offer and how they may benefit you.