Okay let s make it more your language.....buy a share in 1998.... You want to trade time....so you will exit in 10 years.....now 2008 and it's time to exit but hey the PRICE has not moved.....but if you decided to exit at a certain price then you be smiling now! Same as your investment in GFI .....you reached a PRICE target and the investment turned into a profitable trade....time was not relevant. Anyway, we agree to disagree without hurling any insults........
Now you sound like fusion 5378...... But in TIME you will understand the uselessness of trading ( or investing) in TIME! try the Holy Grail of trading for just one month...intraday trading the ALSI futures and PRICE will dawn on you!
I think both of your'll r right. Timing is important - for instance if you a know a stock is going to appreciate by 5% over 10 years - forget about it. Too long a time frame. Time is ruling denominator in the this instance. Price is also important for obvious reasons - it determines when we buy and sell. There so your'll are both right - now play nice.
I also trade intraday using price action and time does play a factor in my humble opinion, but first i look at price action ( candle sticks) secondly i look at each hourly and 4 hour closes (time) if price does not close above or below a certain pre determined price (SUpport /resistance) on an hourly or 4 hourly close, then i sit on my hands, so in my intraday trading method time does matter, but more importantly price action is my primary focus.
You are only confirming what I said above. You are trading based on a particular pattern that has nothing to do with price, you are waiting to TIME the market. When that candle appears..Bingo ....You're in, irrespective if it was trading at a price of 2 or 5% above or below yesterday's close.
But that candle will only appear when a certain PRICE goes through the market...I agree , the same price may not be your price in a different time frame....so choosing a timeframe has got nothing to do with timing the market....once a time frame is chosen, trading does not happen until a certain price is reached and traded