The importance of timing

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

The Importance of Timing

T

he market has three basic characteristics that a trader must take into consideration: level, direction, and timing. Trading is the art of being in the right place at the right time, that is, on the right side of the market.

I have already discussed how to determine the right place for entering the market and how to use the market fluctuations. Now, it’s time to talk about the timing factor. As the market events develop (not only in space, but also in time), it is necessary to take into account the entire picture at any mo- ment a position is opened or liquidated. Timing is an extremely important factor in trading, and a sense of timing is an essential component of a trader’s success in the market. The right choice of timing for position open- ing and liquidation is a very complicated task and demands a lot of atten- tion, patience, and (unfortunately) rather significant experience of a trader.

Thus, positions opened in the direction of particular market move- ment—at the moment when the market forms new high or low of the day— will give a trader some certain statistical advantage. This is especially true when the market simply doesn’t have enough time to complete its average daily range within the period of time left before the end of a trading day.

Normally, it wouldn’t be very difficult for an experienced technical trader to determine future market trading levels more or less precisely, but the forecast of the time frame of such an event is rather difficult if not impos- sible. Mistakes in precise forecasting are so great that they often compel a trader either to liquidate a potentially very promising position prematurely, or to keep a profitable position longer than necessary. An unprofitable posi- tion carried with a floating loss is often liquidated at the moment it has accu- mulated the greatest possible loss and right before a turn for the better.

However, the connection between amplitude of the market fluctua- tions and its direction also exists, and the knowledge of some common law related to timing could essentially help a trader in his choice of the right place at the right time. Besides, because the market is open 24 hours a day, it is quite natural that a trader is not capable of supervising it con- stantly. Hence, it is necessary to organize his working hours so that pres- ence in the market would coincide with periods of the best activity and would bring a maximum possible effect. For these purposes, it is impor- tant to have an idea of how time and market space are tied together.

The market has to complete its average trading range daily. So, the distance between high and low of each next day can be projected in ad- vance with certain accuracy.

This statement is one of the basic three postulates of my trading method. It is time to talk about it in more detail, because this fact has a di- rect relation to intraday speculative trade, and some of my trading tem- plates are constructed on its basis.

Really, this feature of the market rather rigidly connects space and time. If you take into the account the inertia of the market, such an approach will allow you to more effectively determine the levels of opening and liquidating your positions, and to make these transactions at the right time.

Thus, the positions opened in the direction of the current market move- ment at the moment when the market forms new High or Low of the day will give traders some certain statistical advantage. This is especially true when the market simply doesn’t have enough time to complete its average daily range within the period of time left before the end of a trading day.

To execute the order to open a new position, I typically use entry stops so as not to waste time on transaction execution while trying to place my order at a market price. Generally, such tactics works very well because, at the expense of stops accumulation, the market frequently ac- celerates at the moment of establishing a new daily High or Low.

This trading tactic is very effective when:

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

• Trading is made at a period of the best activity of the market.

• The currency chosen for trade has the largest average daily range.

• The position opens in a direction of the current intermediate trend.

• The establishment of new high or low coincides with a break of an im- portant technical level.

• There is not enough time left until the end of the trading day, and the average minimum range typical for the given currency hasn’t yet been formed.

The last item is especially interesting to traders, because it gives them a statistically advantageous position. The described situation hardly in-

creases chances for taking profit, but at the same time allows the trader to calculate a point of the position liquidation. The position may be closed at the moment when the market achieves the average range in which it can liquidate your position, or it may be saved until the end of the day and be liquidated directly before closing of the market. In the second case, the in- traday profit is frequently more significant, because the market often ex- ceeds the minimum of its daytime range.

CYCLIC CHANGES IN MARKET ACTIVITY PERIODS

I have witnessed many similar cycles when, almost every day, not only USD/JPY but also USD/CHF, USD/DEM, and Cable formed their daily trad- ing range during a single market session. Long-term supervision of the market has allowed me to determine some other laws having a direct rela- tion to timing. These laws are considerably more important for a short- term trade than for a positional one. The intraday trade is most subject to influence of timing, and requires application of various trading tactics, de- pending on the moment of opening or liquidating a position.

From the start, I would like you to pay attention to the periodically varying character of market behavior. Activity of the market and an intra- day trading range are not coordinated. Changes in market activity occur cyclically. They are characterized by displacement of periods of the in- creased and decreased activity on a 24-hour scale of a trading day during many consecutive days. For example, there have been cycles in which the daily trading range was completed in a period of one working session. For example, the daily range completion during the limited time is character- ized by forming the top and bottom of the whole day during one of three basic sessions: Asian, European, or New York. It means that the high and low of the trading day were formed in no more than eight hours, and, for the rest of the trading day, the market was moving inside the already formed range.

Sometimes, these cycles are highly visible, and sometimes they are less obvious. Their variety is huge. From that great number of various cy- cles that I had to observe while trading the basic currencies, the following were the most memorable:

• The market formed its daily range during a single session. See Figures

• Directly before the New York session (10 to 20 minutes prior to its be- ginning), the market formed the top or bottom of the daily range. For example, within the time left until the end of the day, the market traded inside the already formed range. See Figure 16.2.

Open Average daily range

Asian session European session NY session

The importance of timing

Time – one of those things working professionals can’t get enough of.

Whether you’re a newbie or veteran, you always need another hour to tick tasks off from your to-do list.

It’s difficult to take control of every single minute of your day especially when there are too many distractions around. Since childhood, our parents and teachers have advised us to spend time and money wisely. In this article, we are going to take you back to the importance of time management but with a little spinoff. Today, we would be talking about the importance of time management in the workplace .

Before delving straight to its importance, let’s first see what time management actually is:

Table of Contents

What is time management?

Time management is the process of planning and exercising conscious control of the time spent on specific activities to work smarter than harder. It is a juggling act of various things that help you increase efficiency and strike a better work-life balance .

Improving your time management at work allows you to enhance your performance and achieve your desired goals with less effort and more effective strategies. However, failing to manage time or poor time management skills at work can result in:

  • Missed deadlines and appointments
  • Procrastination and lack of focus
  • Lack of professionalism
  • Inefficient workflow and low work quality
  • Unwanted stress
  • Poor professional reputation
  • Strained workplace relationships
  • Financial penalties
  • Work and life imbalance
P.S.Time is an irreplaceable asset. It is more valuable than money, especially in today’s fast-paced, overly-competitive business world. You can get more money, but you cannot get more time. Be sure that you spend your time where it matters most to you.

Benefits of time management in a workplace

There are many advantages that come along with proper management of time. In your professional life, time management can benefit you in the following ways:

Deliver work on time

Allocating a finite time period to tasks help you complete them on time. It also helps you to manage your workload in the most effective way. When you have time-boxed tasks, your brain gets rewired to follow the structure and accomplish those activities within the desired time-frame. Thus, you can easily deliver work on time if you have managed your time well.

Provide a better quality of work

As a dedicated employee, you are expected to provide work of certain quality and standards. With the proper utilization of time and prioritization of activities, one can easily provide a better quality of work. Prioritization helps you focus on important tasks by keeping them in the highest priority which enables you to work on them with full attention and focus. Hence, the quality of the work is improved.

More productivity and efficiency

It is no secret that effective time management skills make you more productive and efficient as a working professional. These skills are helpful in helping you finish tasks as early as possible without compromising on the quality of work. Your overall productivity often goes for a toss when you’re working on unimportant tasks but effective time management skills let you tick off tasks that are both important and urgent on time.

Much less procrastination

“I will do it later” – This is an excuse that we all have made at some time. The meaning of time management is not just about doing more in less time but also to reduce the urge to delay and procrastinate over important tasks. Applying good time management tricks enable you as a founder, leader, or employee to work smarter rather than harder. It instantly eliminates procrastination by ensuring that you’re familiar with the tasks added in your to-do list and when it needs to be finished.

Less stress and anxiety

There are times when employees feel overwhelmed due to too much work on their plates. This can not only hamper your productivity but also take a toll on your overall health. Excessive stress and hypertension can lead to heart diseases, depression, obesity and more. Knowing what to do we can reduce unnecessary stress and tensions from your life.

Improved quality of life

Effective time management skills don’t just benefit your professional life but can also improve your life outside of the office. If you keep things under control on the professional front, you get more time to focus on your personal life and relationships. Knowing the fact that tasks and activities are on track will bring a sense of calmness in your personal life. As you feel calmer and less stressed out, your quality of life improves automatically.

More opportunities and career growth

Being punctual with your work will not only increase your effectiveness but will also help you earn a good reputation at work. When managers and seniors know that you always complete your tasks on time, it could lead the way for more promotional opportunities at work.

More time for leisure and recreation

When was the last time you had time for yourself doing things that you really enjoy? Can’t remember, right? Fortunately, with good time management, you get more free time in your day to do the leisure and recreational activities that make you happy. Ultimately this helps you to create the perfect balance by working smart all day and having a reward of your choice in return.

5 Steps for better time management at work

Time management is not rocket science. Frankly, anyone can learn this art with a little practice and learning. So here are a few steps that tell you how to become a time management expert:

Planning plays an important role in time management as both go hand-in-hand with each other. You can make the most of your time only when it is thoroughly planned. When we talk about planning, you don’t necessarily have to follow a strict routine, instead, it means making smarter decisions of knowing the right time to do a task or an activity. The idea behind time management is to work smarter than harder and make time to do other things as well. You can use project management software to plan your tasks and save time smartly. Best-seller author Brian Tracy once said, “Every minute you spend in planning saves 10 minutes in execution; this gives you a 1,000 percent Return on Energy.”

Prioritize

Prioritizing your daily tasks is the key to successful time management. That said, many employees start their day with unimportant tasks or something that can be easily done later. Prioritization helps you realize that not everything you do is important. It is important to focus on your priorities to achieve success at work. Figure out the most important tasks and the ones that are urgent. This categorization will help you focus on what actually needs to be done. You can use various project management tools that help you set your priorities straight from the day a project starts.

Don’t multitask

Multitasking is one of the biggest time-wasting activities. Instead of accomplishing too many things, you end up achieving nothing out of them. The best way to utilize your time is to take one thing at a time and accomplish it before jumping to the next thing. Make a list of tasks that need to be accomplished in terms of their priority. Not only you would be able to focus better but there would be lesser distractions as well. And no distractions mean less likelihood of mistakes.

Cut off distractions

In our everyday life, distractions cost us many valuable hours in a day. Mobile phones, chatty coworkers, social media are some of the common distractions at work that almost cost us three hours a day. To not let these distractions eat up your time, it’s better to cut them off completely from your schedule. Take a moment to learn about the things that distract you. If social media and mobile phones are halting your productivity, set a fixed time in a day where you can check your social media.

Use a time tracking software

No one understands the importance of time management in the workplace better than a project manager, especially when you have to handle too many tasks and team members simultaneously. Many effective project managers use a time tracking software to stay on top of everything. Such tools are helpful in managing and tracking the time being spent on each task. If you are looking for such a tool, you can try ProofHub . It helps you to keep a record of every minute so that you can manage your time efficiently at work.

Schedule your break time

Taking regular breaks while working is an effective way to stay productive all day. But it’s effectiveness is subject to management risk, especially when you start taking too many breaks. It’s obvious that you can’t power through a big project or task in one go, you need a break. What’s even better is having a well-scheduled break time. Take a walk, so some quick stretches, or plug in earphones and listen to your favorite music, do whatever helps you to relax and gets back to work with energy later – but don’t take more than 10 minutes.

Find your most productive hours

The next time management hack is to match your highest priority work to your highest productivity hours. The basic idea here is to check in with yourself frequently to track when, where, and how you’re the most productive. Research clearly shows that our day is driven by cycles that affect how alert and motivated we are. For example, you might be at your highest brain capacity, with your best focus and attention, before lunch hour, and slow down significantly in the evening. So, if you have a project that involves critical decisions and complex thoughts, the best case scenario is to manage it in your “golden hours”.

Accept your limitations

Even with 110% effort, there will be occasions where you simply cannot get things done within the specified time frame. This is the point where you accept that there are limits to how productively and efficiently you can manage your time . For example, if you have got twice the normal workload in a day, outsourcing and delegation are your best shots. Don’t just assume that you can get everything done that you wanted in any given time frame. Remember, doing this will only make it harder to manage your time effectively.

Effective time management skills can have a positive impact on your work and life in general. When you learn to take control of your time on a daily basis, you improve your ability to get things done, make better decisions and most importantly, gain ultimate control of your key priorities.

I hope this post will be helpful in learning about the importance of time management in the workplace.

Sandeep Kashyap is the Founder and CEO of ProofHub — a leading project management and collaboration software. He’s one person always on a lookout for innovative ideas about filling the communication gap between groups, teams, and organizations. You’ll find him saying, “Let’s go!” instead of “Go!” many times a day. That’s what makes him write about leadership in a way people are inspired to dream more, learn more, do more, and become more.

Get the latest posts delivered right to your inbox.

Time: Meaning, Importance and Value of Time

Category: Essays and Paragraphs, Important India On December 20, 2020 By Various Contributors

Meaning of time

Time means the progress of events, and also the way in which this progress of events is measured (using hours, days, years and so on).

Time can be measured objectively using clocks or the movement of the seasons, for instance. These concepts of time tell us when to get up to go to work, when to meet with friends when we have said that we will meet them at 5pm and when to start planting seeds or harvesting.

Thus, time can also mean the point in time to which a person is referring. For example, in the question ‘what’s the time?’, the speaker is asking about a specific point in time – a specific moment in the ongoing progress of events.

Time is a word with a Germanic origin. The old English and Germanic words ‘tide’ and ‘tima’ both mean time. However, they also mean tide (as in the tides of the sea). There is something significant about this definition. It encapsulates how, just as the tides of the sea continue moving in a way that is observable and measurable, so to do events continue progressing in a way that is observable and measurable. So, in sum, time refers to:

  • The progression of events.
  • The way of measuring the progression of events using hours, seconds, years and so on.
  • Specific moments in time, such as three o’clock or January 2nd.
  • Metaphorically, via etymologically cognate words, the tide like motion of history and life.
  • A specific space of time (for instance, a lifetime or the time allowed for an exam).

Importance and value of time

Time once past cannot be brought back by any means and it is important to understand the value of time. Time is money. There goes a proverb , “Time and tide wait for none“.

Time is invaluable. In-fact, time is more valuable than money. Time is very valuable partly for the reason that we are all only allotted a certain amount of time in our lives, and so we need to make sure that we use it wisely. Nothing can stop the flow of time. Time once past cannot be brought back by any means.

However, some people do not realize the value of time and spend it unwisely. Instead of focusing on important tasks at hand, they waste their time, thinking that they would make up the loss in the future. They should realize that many of the future troubles can be avoided by taking prompt action in a timely manner. The famous proverb, “a stitch in time saves nine“, also highlights the importance of sorting out problem at early stage.

Importance of Time-management for success: Time-management always remains the critical success factor. If anybody wastes his childhood, he will not be able to acquire and build up character in future and will suffer all consequences. Similarly, if a student neglects his studies from day-to-day, no amount of hard labor before the examination will get him through. Time-management is a good habit and lays the foundation of a success in future.

Punctuality and Timeliness: A person who understands the importance of time practices punctuality in life. A punctual person, who uses his time cautiously, becomes successful in life. If we look around we will see that the successful people in all spheres of life made proper use of every moment of their time. The most prosperous nations too are those that do not waste any moment.

A person who is not punctual finds it difficult to finish his own duties. If he is not able to perform his duties, then it may incurs the displeasure of others. In the military field delay by a few minutes may change the destiny of a nation.

Courtesy: Being on time, and being aware of what time it is, ensures that we will not turn up late for our appointments. This is very important if we want to treat other people with politeness and respect. Their time is valuable, just like ours is, and we should not cause them to waste it.

Future is unseen: It is true that nobody can accurately forecast the future. There are many things that are beyond the control of human-beings. The economy and financial situation of countries are fast changing.

Though the future is unseen, man can work hard today to increase the probability of a better future. People should use their time properly. We should try our best to avoid the habit of indolence and begin to do our jobs in time. It will surely brighten our future.

Value of time during emergency situations: The weather condition always remains uncertain. There remains the risk of natural calamities. To tackle the situation of natural calamities, the government and other organizations are coming up with “Disaster Management and Recovery Plans”. During the times of emergency, the disaster recovery teams are expected to act fast without wasting a single minute.

Money Value of Time

The “money value of time” means how much money we can make in a given time. Alternatively, it can mean the subjective monetary value that we place on our time.

These two things may not be equivalent. The money value of time can be set by an employer. Or, it can be set by another individual.

There is a common proverb used to express this idea. It is: time is money.

Reasons Why Time Has a Monetary Value.

  1. We would often exchange money to get more time.
  2. We often exchange our time for money (e.g. when we are at work).
  3. The more efficiently we work, the more money we can make.
  4. Interest on our savings will only accrue over time.
  5. On the stock market, shares can rise or fall in value in very short spaces of time.
  6. Many jobs are paid per hour or per year, thus assigning a clear monetary value to time.
  7. When we buy a watch or another timepiece, we may be said to be placing a monetary value on the ability to tell the time.

Conclusion: It is crucial to do as much good as we can in a lifetime. A person who understands the importance of time work in an efficient manner. The more efficiently we act, the more time we will have left over for future projects. If we look all around important events of history, we will see that all successful people of history made the best use of time. The prosperous people of the world are very conscious about the value of time. Hence, we should never waste our time and try to make the best use of it.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

Like this post? Please share to your friends:
Binary Options Trading, Strategies and Robots
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: