Let us understand the Trade journey in practical way. I’m using the journey word because you need to go to your desired destination. Sometime because of some reason, you may close your journey in between. Let us assume you have decided a road AB and direction A to B mean you have started the journey at junction A and wanted to reach junction B. You have studied all relevant route and time frame to take it. The aim is to start journey as soon as you take bus, if you take seat and it is not moving in your desired direction within satisfaction time, mean there is something wrong with your study/journey plan.
What are parameters which decide that your journey has started. After you plan the journey, you are checking certain parameter to confirm like
Has driver taken its seat,
has he started the engine,
did bus crossed the defined barrier,
After these confirmations, it is to be said that yes, it is now started? Initially, the speed may be less due to city road, once it is on highway, the speed is much faster.
Now think below points in relation to your journey.
If it’s long journey (long term), you should not plan a day or week before, you should decide month or long before. Mind it, to reach to destination will take time, if some disturbance/break downs (short term) comes on the way; they should not hamper your journey. (Positional trading)
If it is not so long journey, you should plan in days before only. Mind it the destination should not take too long to reach, if disturbance is coming, depending on time length, you need to decide to quit or hold the journey. If the journey is for one week, you cannot afford disturbance for more than one day or max 2 days, otherwise you cannot reach your destination. (Swing Trading)
If journey is short, say you are going for local travel, then you need to decide say an hour before, you cannot plan days before the journey. Now suppose the journey is of just 4 hour or 3 hours, let us assume the bus have some problem, you may wait for 15 mins, 30 mins not more that, otherwise you may miss the destination, your psychology will make you restless as the time passes, you need to close the journey or you will lose time and money. (Intraday Trading)
In all above cases, where you end your journey of trade, it depends on proper study of facts and psychology, you might have historical data so that you can judge at junction of disturbance, where you should close the trade (Journey). Be the driver of your journey of Trade. There is nothing wrong with any style be it positional, Swing or Intraday.
Thanks 🙂 and have a profitable and happy journey