When I look around the internet,I see many people writing about the importance of perfect market timing as the key to FX trading success but in terms of overall Forex profits, its no where near as important as people think – lets look at why.

Lets first look at better Forex timing and what the losing 95% of traders see it as:

Forex Market Timing Myths

Joe public losses money and tends to buy into the idea, that you have to predict market turning points in advance and market timing must be right at the turn of the trend.

They also believe that, you can get good market timing by scalping or day trading and of course, all these traders learn a lesson from the market and lose. You can't time market tops or bottoms or predict them in advance and you can't trade with the odds on your side, in short term random volatility.

The myths about prediction and picking tops and bottoms is a myth which is fed by the numerous junk robots to the gullible trader, via sure fire trading systems sold online which say predicting tops and bottoms is possible, when it should be clear to anyone, you cannot predict what emotional people will do in advance.

One of the World's Best Traders Admits He is Terrible at Market Timing

I actually saw a market interview with one of the best traders of all time Jimmy Rogers (a former partner with Jim Soros trading the Quantum fund) who said - he was terrible at market timing but of course he made a lot of money and is one of the most successful traders of all time.

What Jimmy Rogers knows and most of the top traders in the world know is – that not only, is perfect market timing not possible, it makes no real odds in terms of making money with your trading signals longer term.

The Key to Making Money has Nothing to do With Predicting Tops and Bottoms

The key to making money is not trying to predict but getting your trade in, when the odds are at there best and this means, your trading strategy should be focused on getting into positions when moves have been confirmed by market action.

Its a fact that if you could make just 50% from the big trends in Forex, you would be extremely rich! When building your Forex trading strategy, don't ever trade short term volatility by day trading or scalping, focus on long term trends and don't worry about missing the exact top or bottom. A big trend, will give you a lot of pips in profit once your in it so be patient, you cant get it all so don't try.

Final Words

When trading look to make money and forget about perfection its not possible. Your aim is to make money while at the same time, keeping risk as manageable levels. If you miss a few pips at the top or the bottom of a big trend which makes several thousand do you really care? Of course not, don't follow the losing herd and look to beat the market instead focus on making money.