c02 JWBT016-Busby September 30, 2008 13:33 Printer: TBD
Time Is Money 35In addition to trading during trade zones, I also trade some news
events. Regularly scheduled news moves the markets, and those who know
how to use the news make money. I trade many regularly scheduled news
releases, including the Fed rate announcements that are scheduled eight
times a year. Every Wednesday morning, the U.S. government reports on
the status in crude oil inventories. This news is a trader’s dream, and I
am there ready to take advantage of it. I execute this trade every week live
on the web. You have an open invitation to log in and enjoy the show. Go
to http://www.dtitrader.com for the details.
As important as the times when I trade are the times when I stay clear
of the markets. One such time is the “Grim Reaper.” Each day the time
between 1:30 and 2:00PMis dangerous for me and my strategy. Bond pits
are getting ready to close and gauging prices is very difficult. Therefore, I
stay clear.
The big idea presented in this chapter is that timing is important to
many things in life, and it is especially important to trading. To become a
successful trader, pay close attention to time and use it wisely.