It's always good to take time off during these little breaks. Its best to completely go off charts and do something else.Its proven that it works wonders, no matter what field you're in. e.g. I might take a break and play football but those who play football for a living will take a break from football and do something else.
During the Trading Day:
I usually finish trading session around 10 am and head to the gym. I usually make it between 10-11 am. I know it sounds like I'm not really working much going to gym in the morning. But that's not true. The type of work I do allows me to do it plus it helps me take that essential break away from charts. Its really important to go away from charts. And there is a reason behind it. Let me explain.
There is another reason why I hit the gym after 10 am is that it's the quietest time in the gym. (or so I thought). The gym has almost three times less number of people (or so I thought). So today I thought why not do some objective research.
So I was looking at my local gym's website and found average user count chart. I wanted to see if my usual gym time really was what I think it was or "should be". Or does it have to do with crow mentality. Am I thinking like what "the majority" now thinks is quiet time. Which would make it NOT a Quiet Time. Everyone in the gym says to me, "I like the 10 am time, its very quiet most people are at work".
The Figures say otherwise. You see human perception is not accurate. I used to think gym is busiest around 6 pm. I was right about that. But wrong about how much busier it was compared to what I perceived as Quiet Time. The chart below shows that.
I was also wrong about 10 am in numbers as it's almost the same as 5 pm or 7 pm.
In fact its the PEAK of Wave 3.
Do you see the pattern. It appears that human activities usually create the so called Elliott Wave patterns everywhere.
Is it by chance or something?I don't know. But looking at this chart it certainly seems that way. Lets dive in more and see what's going on.
Wave 1: 3am-5am [2-10 people]
All I see is wave 1 that starts around 3am, (its a 24hr gym) and it peaks around 6-7am.
Wave 2: 6am-7am [40-46 People]
Takes a dive down around 7am. Perhaps those who workout before work begin to leave getting ready.
Wave 3: 7am-10am [40-81 people]
and it starts to pick up sharply (wave 3 of 3) from 8am and peaks around 10am. (I thought 10 was the quietest time). In fact, there are 81 people in the gym around 9am and 10am.
Wave 4: 11am-3pm [51-76 people]
So most people have done their workouts and now comes the late comers. the closer to lunch period is quite. the trend goes down. 11am, there are less people but still pretty high, 76 people still in the gym. But that's the start of wave 4. The Decline begins here. 3pm is the quietest time. (school run time nobody can workout now) lol
This is now the busiest time of gym. But whenever I trained at 6pm, my perception was that there must have been 4 times more people compared to 10am. I was wrong. its only a 20% increase on 10am.
The Markets also move in this fashion. This is for some reason, how stuff happens in the universe. WAVES is the Structure of the Universe. (Not Elliott Wave but WAVES). The Crowd behaves, mostly, within the "mean" of the bell curve.