How is the current stock market monthly stock trading strategy
A etoro crypto copyfund breaking into high frequency trading priority for active traders will be low commissions and fast order execution for time-sensitive trades. Of course I will describe how we develop the plan, but all we do is place one conditional order per week, and almost every brokerage firm will allow you to use conditional orders. The statistics above apply whether you trade stocks, forex or forex host vps first citizens bank trinidad forex the main day trading markets. Key Takeaways How is the current stock market monthly stock trading strategy trading is a strategy that involves 'beating the market' through identifying and timing profitable trades, often for short holding periods. Usually the company splits the stock to bring the share price down and make it more affordable for investors to purchase blocks of shares. The concept behind this anomaly is that a company with low levels of accruals in their earnings has more real cash flow coming in and therefore more certain earnings. Academic research is usually not geared towards the needs of traders and sometimes the analysis leaves can i buy bitcoin like a stock selling crypto on ebay crucial details such as transaction costs and market impact. As unwitting investors load up es emini day trading forex trading course forex market shares and drive the price up, the crooks take their profits, dump their shares and send the stock careening back to earth. Like momentum, numerous research has been done into the subject of reversals and mean reversion. If you make trades in a demo account and win 53 of them, your win-rate is 53 percent. Also, a number of mean reversion strategies have been detailed on this blog and in our research program. Not everyone who buys and sells stocks is a stock trader, at least in the nuanced language of investing terms. There are many subtleties to the closed-end fund discount and numerous explanations have been put forward for its existence. One explanation for the size effect is that small cap stocks are simply more risky than large cap stocks. There is no specific number of trades you should, or need, to take each day. Set a stock trading budget. Trades can be held for up to 15 days after the budget is announced. In other words, you can increase the probability of success with this strategy by incorporating more stocks into the portfolio : Strategy:. The following chart taken from a paper called Persistence of the Accruals Anomaly shows the abnormal returns associated with the anomaly going back to Day trading is perhaps the most well-known active trading style. Day Trading. In recent years there has also been a trend of lower interest rates and accommodative monetary policy. Note that some days produce no trades because conditions aren't favorable, while other days may produce 10 trades.
Best Time(s) of Day, Week & Month to Trade Stocks
Win more than 50 with a reward to risk of 1. Active traders can employ one or many of the aforementioned strategies. Measure your returns against an appropriate benchmark. And of course, day trading, as the name implies, has the shortest time frame of all. Trend traders look for successive higher highs or lower highs to determine the trend of a security. Investors, on the other hand, are typically in it for the long haul, buying at regular intervals and selling much less frequently — or not at gms stock dividend aristocrat stocks with best growth chart, at least until retirement. Stock traders buy and sell stocks to capitalize on daily price fluctuations. You can also construct a market neutral portfolio by going long high book-to-market stocks and going short low book-to-market stocks. However, this could also bond market trading days if you trade using cash ate you day trading a case of HARKing hypothesising after results are known which should be avoided. You increase your account capital by 25 percent over those shares. It's called the Monday Effect. Alternatively, you could try to reduce risk not permissioned for study filters thinkorswim cadchf tradingview or increase your reward slightly to improve your reward:risk. In the next chart from Stern School of Businessyou can see how Monday provided net negative returns in stocks between The following chart from the Financial Analysts Journal clearly shows how stock returns have clustered around the end of the previous month and beginning of the next month:. Part Of. Since a primary goal of the Federal Reserve is to maintain market stability, FOMC policy announcements often act to suppress market volatility or give assurance to market participants. Finally, the lack of liquidity during this period might also be a contributor to an upward drift in prices:. Leave a Reply Cancel reply Your email address will not be published. Position refers to the amount of a particular stock or fund you .
Forex Scalping Definition Forex scalping is a method of trading where the trader typically makes multiple trades each day, trying to profit off small price movements. Trades can be held for up to 15 days after the budget is announced. For most people who start day trading, the ultimate goal is to quit their job and be able to make a living off of the markets. This is a simple method to define momentum and we have also demonstrated several moving average systems on this website and in our research program. Day trading, position trading, swing trading, and scalping are four popular active trading methodologies. The conclusion for day traders is to focus on momentum strategies in the morning and reversal strategies in the afternoon. Active trading is what an investor who places 10 or more trades per month does. Choose your broker wisely. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Only risking one percent also means that even if you hit a losing streak of five to 10 trades, you haven't lost much capital. Scalpers attempt to hold their positions for a short period, thus decreasing the risk associated with the strategy. You can buy stock index futures or baskets of stocks on the close of trading before a market holiday. Our opinions are our own. In the U. The value effect is commonly referred to as the book-to-market effect and dates back to famed value investor Benjamin Graham. There are many subtleties to the closed-end fund discount and numerous explanations have been put forward for its existence.
Stock Market Strategies – Price Based
Of course, as with all the market anomalies we are discussing, there is also the possibility of data mining or natural variance. A possible criticism of this anomaly is that it shows strongest performance between — , roughly the same amount of time that interest rates have been declining in the US. How about a best month to buy stocks, or to unload them? This is essential advice for all types of investors — not just active ones. Swing traders utilize various tactics to find and take advantage of these opportunities. Part Of. No results found. Investor mood can be affected by sports events and there happens to be more than one Super Bowl pattern related to the stock market. Eastern time on non-holiday weekdays. It is possible, and you can do it. Search Search this website.
This anomaly has also been discussed by numerous well-known researchers including Basu, Titman and Fama and French. The only way to know if a strategy can produce the numbers above or better is to test that strategy out in a demo account. Position refers to the amount of a particular stock or fund you. Trading outside of these busy hours is usually a dangerous idea for day traders. So if you're a novice, you may want to avoid trading during these volatile hours—or at least, within the first hour. Create or follow a strategy that allows you to keep these french dividend stocks how to watch tastytrade on apple tv in the target zones, and you will be a profitable trader. He has provided education to individual traders and investors for over 20 years. Not everyone who buys and sells stocks is a stock trader, at least in the nuanced language of investing terms. Comments Great article! The more capital you have, though, the harder it becomes to maintain those returns. However, investors may still outperform by selecting small caps with higher quality earnings as discussed in this paper by AQR. Try this strategy: One stock per week Published: Oct. Except the days of the week effect. The value effect is commonly referred to as the book-to-market effect and dates back how is the current stock market monthly stock trading strategy famed value investor Benjamin Graham. See this thinkorswim set default zoom settings download replay data multiple days on Blair Hull for more information about combining factors. However, position trading, when done by an advanced trader, can be a form of active trading. Extend it out to a. The distressed securities anomaly holds that some distressed securities become undervalued through forced selling and investor psychology. This tendency is mostly related to periodic new money flows directed toward mutual funds at the beginning of every month. Nevertheless, if you're planning on buying stocks, perhaps you're better off doing it on a Monday than any other day of the week, and potentially snapping up some bargains in the process. Related Terms Witching Hour Definition Witching hour is the final hour of trading on the days that options and futures expire. Securities and Exchange Commission. The following chart from the Financial Analysts Journal clearly shows how stock returns have clustered around the end of the previous month and beginning of the next month:. Investing in distressed securities involves a bet that a company experiencing severe financial difficulties is essentially not as distressed as the market believes.
Try this strategy: One stock per week
Win more than 50 with a reward to risk of 1. Still, academic evidence suggests that any patterns in market timing where one is able to consistently generate abnormal returns are generally short-lived, as these opportunities are quickly arbitraged away and markets become more efficient as traders and investors increasingly learn about the patterns. The buybacks anomaly suggests that companies that buy back repurchase more of their own shares tend to outperform. Understanding these four numbers can you buy mutual funds in a brokerage account day trading rooms futures help you reach your goal of day trading for a living. Search Search this website. An explanation for the overnight anomaly is that companies release more of their important information after the market is closed and this is what moves markets. Unlike traditional investing, trading has a short-term focus. Note that some days produce no trades because conditions aren't favorable, while other days may produce 10 trades. The way to trade PEAD is to buy stocks with the strongest positive earnings surprises and short stocks with the strongest how is the current stock market monthly stock trading strategy earnings surprises. Other features to consider are the quality and availability of screening and stock analysis tools, on-the-go alerts, easy order entry and customer service. Some authors argue that issuers voluntarily leave money on the table in order to create a nice start footprint chart for ninjatrader 7 scrolling ticker thinkorswim good feeling among new investors in the stock and therefore allowing issuers to have more successful Seasoned Equity Offerings in the future. For a buy order, bid or ask prices power etrade price series provider tradestation limit price will be the most you're willing to pay and the order will go through only if the stock's price falls to or below that. This anomaly refers to the tendency for stocks to rise during a small window between the end of the month and beginning of the next month. Taking your time to buy via dollar-cost averaging or buying in thirds helps reduce investor exposure to price volatility. The distressed securities anomaly holds that some distressed securities become undervalued through forced selling and investor psychology. The explanation for this is that morning trades are more likely to be information driven while afternoon trades are based on liquidity and dominated by institutional trading. Partner Links. The Dogs of the Dow strategy has been around since at least the early 90s and exists in a couple of different forms. This anomaly has a few things going for it since it is also the combination of several other known effects. It is infrastructure stocks that pay dividends best stock earnings website shown to be effective in international markets.
Such companies typically implement the reverse split not as a sign of quality but because they need to trade over a certain price level to maintain exchange listing requirements. Others argue that IPO underpricing can act as risk compensation for the underwriter. This time the researchers looked at 19, seasoned equity offerings not IPOs between — and found the opposite effect. Investor mood can be affected by sports events and there happens to be more than one Super Bowl pattern related to the stock market. There is also documented mean reversion in fundamental data like earnings and accruals, intraday data, volatility and in the aftermath of short selling. Keeping your risk to one percent or less is up to you and should be employed no matter which strategy you use. According to this analysis from Steve Auger , the Dogs of the Dow strategy has been an effective one, outpacing the Dow index by a decent margin since Damodaran shows the effect very clearly:. You can short stocks that announce equity offerings two days before earnings announcements and hold for up to 30 days. There is only so much buying and selling volume at any given moment; the more capital you have, the less likely it is that you will be able to utilize it all when you want to.
Long-Term Stock Market Timing Since 1871
If any of these statistics get out of whack, it will hurt your results. A stock market anomaly is a rate of return or investment strategy that seems to defy the efficient market hypothesis. Related Articles. Bull Market Definition A bull market is a financial market of a group of securities in which prices are rising or are expected to rise. Investopedia is part of the Dotdash publishing family. Our clients can get regT margin on their IRAs, which means they can have immediate access to the funds after they sell a position, so yet another restriction, excuse, reason for not controlling risk and empowering your competitive advantage, is lifted. The closest thing to a hard and fast rule is that the where could i buy bitcoin how to buy pillar cryptocurrency and last hour of a trading day is the busiest, offering the most opportunities—but even so, many traders are profitable permissions to sell bitcoins in usa chainlink market cap the off-times, as. You can use mean reversion strategies to go long a CEF when its discount is significantly below its usual level and look to profit when the gap closes. You may win or lose several trades in a row. Think again! There are a number of online resources you can use to track insider trading such as Insider Monkey and SEC filings. Ending every week in cash serves multiple purposes; the most important may be that it can help you live a happier life. Ending every week in cash is extremely important. You can then go long small cap stocks with strong insider purchases. Limit order: Buys or sells nadex crude oil spreads fxcm trading station apk download stock only at or better than a specific price you set. Paper trading lets customers test their trading acumen and build up a track record before putting real dollars on the line.
If any of these statistics get out of whack, it will hurt your results. Continue Reading. While a swing-trading algorithm does not have to be exact and predict the peak or valley of a price move, it does need a market that moves in one direction or another. Please help us keep our site clean and safe by following our posting guidelines , and avoid disclosing personal or sensitive information such as bank account or phone numbers. But again, as information about such potential anomalies makes their way through the market, the effects tend to disappear. Of course there is work that needs to be done in order to become truly proactive, to remove the burdens that weigh heavily on other investors, and to empower your competitive advantages, but once the framework is built I have provided that here it becomes mechanical, and that is what separates good investors from everyone else. The markets tend to have strong returns around the turn of the year as well as during the summer months, while September is traditionally a down month. While a win from the NFC will lead to a rally. The equity issuance anomaly is a similar effect and was discussed in the same paper mentioned above. Typical of individual investors, I can anticipate excuses, so let me tackle another one before I continue. The idea is that when a stock releases earnings that are a big surprise to the market, the stock tends to drift in the direction of that surprise positive or negative for up to 60 days after the announcement. Risking too much on each trade can decimate your account quickly if you hit a losing streak. Stock trading requires funding a brokerage account — a specific type of account designed to hold investments. As unwitting investors load up on shares and drive the price up, the crooks take their profits, dump their shares and send the stock careening back to earth. Due to generally positive feelings prior to a long holiday weekend, the stock markets tend to rise ahead of these observed holidays. Related Terms Swing Trading Definition Swing trading is an attempt to capture gains in an asset over a few days to several weeks. A higher priority for active traders will be low commissions and fast order execution for time-sensitive trades. We also reference original research from other reputable publishers where appropriate.
Most Popular Videos
Article Sources. The value effect is commonly referred to as the book-to-market effect and dates back to famed value investor Benjamin Graham. Personal Finance. Stock Trader A stock trader is an individual or other entity that engages in the buying and selling of stocks. One possible explanation is that investors become more optimistic as the weekend approaches and are more pessimistic on Mondays. Trading off inside information can be illegal but directors are allowed to purchase and sell shares in their companies provided they do so in a timely manner and disclose their transactions with the SEC. Day trading, position trading, swing trading, and scalping are four popular active trading methodologies. Other explanations include portfolio window dressing and rebalancing on day -1, pension fund investment moves and brokerage firms that implement sales pushes towards the end of month in order to meet sales targets. There is evidence that the small firm effect has weakened. Compare Accounts. Disclaimer: Performance as of Friday, Oct. However, momentum factors were frequently mentioned as among the most significant of those tested. Momentum also referred to as trend following has been described as one of the most persistent stock market strategies. Further, momentum trades should be preferred in the morning and reversals in the afternoon.
Price markets spread forex how to recover intraday loss Accruals anomaly is quite a robust anomaly with a lot of research behind it and it seems to make rational sense. You should be aware that markets behave differently at different times of the day and you can use this information to construct filters for intraday trading or timing entries. Make hundreds of day trades in demo how is the current stock market monthly stock trading strategy using the same strategy to see the win-rate, reward:risk and number of trades per day it produces. You can buy baskets of small cap stocks and simultaneously short large cap stocks if looking for a market neutral approach. Use your evaluation of the market to determine a bias. Position refers to the amount of a particular stock or fund you. Investopedia requires writers to use primary sources to support their work. Since the level of profits per trade is small, scalpers look for more liquid markets to increase the frequency of their trades. It is possible, and you can do it. Partner Links. There are various methods used to accomplish an active trading strategy, each with appropriate market environments and risks inherent in the strategy. This is an old trading cliche and calendar effect anomaly that forex host vps first citizens bank trinidad forex the tendency for stocks to do worse during the period between May to October. Slight adjustments could push this break-even or losing strategy toward being a profitable interactive brokers new customer is interactive brokers an ecn. The opening hours represent the window in which the market bittrex to coinbase trueusd coin news in all of the events and news releases since the previous closing bellwhich contributes to price volatility. Gordon Scott, CMT, is a licensed broker, active investor, and proprietary day trader. Short trades must be managed closely but long trades can be held for up to 50 days. Other profitable momentum strategies have trade momentum picks up at us southern border iq binary options wiki published which include closeness to the week high and entries using moving averages. The chance of making a great living is much smaller. Please help us keep our site clean and safe by following our posting guidelinesand avoid disclosing personal or sensitive information such as bank account or phone numbers. From to p. However, investors may still outperform by selecting small caps with higher quality earnings as discussed in this paper by AQR. National Bureau of Economic Research. Because prices are relatively stable during this period, it's a good time for a beginner to place trades, as the action is slower and the returns might be more predictable. Most people who attempt day trading will lose most, or all, of the money they deposit into their trading account. Often, the best anomalies are those that can easily be backed up with a rational explanation such as the behavioural biases of human investors.
A new study describes the phenomenon and suggests a recipe to profit
Often, the best anomalies are those that can easily be backed up with a rational explanation such as the behavioural biases of human investors. This anomaly has a few things going for it since it is also the combination of several other known effects. This may influence which products we write about and where and how the product appears on a page. Day trading is the strategy employed by investors who play hot potato with stocks — buying, selling and closing their positions of the same stock in a single trading day, caring little about the inner workings of the underlying businesses. In the following chart you can clearly see the relationship:. From there, simply take the plan and input that into your trading platform, then go to work, or do whatever it is that you prefer, and let the plan work for you while you go about your life. According to data from Quantpedia , the accrual anomaly can be used to pursue annual returns of around 7. There are many subtleties to the closed-end fund discount and numerous explanations have been put forward for its existence. The following chart from Bespoke Investment Group shows how stock returns are concentrated in the final hour of trading and overnight. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. If any of these statistics get out of whack, it will hurt your results. The win-rate is how many trades you win, expressed as a percentage. Sullivan who suggest that the anomaly is not significant and is probably the outcome of data mining.
Key Takeaways Active trading is price action day trading strategy renko trend with slope strategy that involves 'beating the market' through identifying and timing profitable trades, often for short holding periods. I hope, at least, that these stock market anomalies have given you new ideas and inspiration for your next investing strategy. The following chart from Stern NYU shows how average returns for the first trading day after a holiday have been net positive for all holidays except the Fourth of July. In one study, researchers Amini and Singal looked at 15, buyback announcements between and Each year the portfolio is rebalanced so that you always hold the 10 stocks with the highest yield the dogs. Day Trading. The expiration of these contracts forces many investors to roll can you become a millionaire by day trading cme binary options positions which essentially means they sell their positions in the current contract and buy it back in the. Less than 4. Understanding these four numbers will help you reach your goal of day trading for a living. If you were to strip the company and liquidate all the assets you would end up with more cash than the current market value that is assuming the assets are valued correctly. A range-bound or sideways market is a risk for swing traders. The basic premise is that a stock in motion tends to stay in motion and investors can capitalise on this phenomenon to earn above average market returns. Which market you choose shouldn't be based on return potential, as they all offer similar returns. Reward:risk is interlinked with the win-rate. Therefore, the stock split effect is tied in to the momentum anomaly. Position refers to the amount of a particular stock or fund you. The following chart from the Financial Analysts Journal clearly shows how stock returns have clustered around the end of the previous month and beginning of the next month:. Typically, trend traders jump on the trend after it has established itself, and when the trend breaks, they usually exit the position. A skilled trader may be able to recognize the appropriate patterns and make a quick profit, but how is the current stock market monthly stock trading strategy less skilled trader could suffer serious losses as a result. Since a what is power etrade 3.00 tech stock goal of the Federal Reserve is to maintain market stability, FOMC policy announcements often act to suppress market volatility or give assurance to market participants. In many cases, they are part of a pump-and-dump racket where shady folks purchase buckets of shares in a little-known, thinly traded company often a penny stock and hit the internet to hype it up. The bottom-line goal for picking stocks is to be ahead of a benchmark index.
Momentum systems can be based on moving averages, breakouts and monthly returns and there are plenty of strategies documented on this website and in academic journals. I will explain how everyone can do this themselves, but for my clients I provide a plan, and hsi intraday data morning star forex vs evening star forex they need to do is place a conditional order based on the plan I give. Still, people believe that the first day of the work week is best. Day trading lures throngs of people, yet most of these people won't make a profit, let alone a living. For decades, the stock market has had a tendency to drop on Mondays, on average. These include white papers, government data, original reporting, and interviews with industry experts. For example, using Sell In May as one ranking factor in a market timing strategy. Risk more than one percent though, and a losing streak can decimate your account. This means that in periods of high market volatility, trend trading is more difficult and its positions are generally reduced. Short trades must be managed closely but long trades can be held for up to 50 days. Practice with a virtual trading account. Many or all of the products featured here are from our partners who compensate us. More research may be needed but the general strategy is to go long IPO stocks on their first trading day. Investopedia requires writers to use primary sources to support their work. ET By Thomas H. It is possible, and you can do it. Typically, trend traders jump on the trend best penny stocks to buy in usa ameritrade bank atm it has established itself, and when the trend breaks, they usually exit the position. A higher priority for active traders will be low commissions and fast order execution for time-sensitive trades.
The aim of the day trader is to make a few bucks in the next few minutes, hours or days based on daily price fluctuations. Here's how:. Short trades must be managed closely but long trades can be held for up to 50 days. It is possible, and you can do it. The buybacks anomaly suggests that companies that buy back repurchase more of their own shares tend to outperform. The markets tend to have strong returns around the turn of the year as well as during the summer months, while September is traditionally a down month. Lower risk by building positions gradually. Investopedia requires writers to use primary sources to support their work. Related Terms Swing Trading Definition Swing trading is an attempt to capture gains in an asset over a few days to several weeks. You can implement a portfolio that consists of going long stocks after stock splits and going short stocks after reverse stock splits. Alternatively, you could try to reduce risk slightly or increase your reward slightly to improve your reward:risk. Bull Market Definition A bull market is a financial market of a group of securities in which prices are rising or are expected to rise. University of California, Davis. A few winning trades and you have made that loss back. Take a look at a website like SSRN. The middle of the day tends to be the calmest and stable period of most trading days. This effect was shown to go back to and has increased over time. First, practice with a virtual trading account, then start by investing low amounts to avoid unnecessary risk.
Day Trading Trading Strategies. Investopedia uses cookies to provide you with a great user experience. Thompson reports that the best way to implement this strategy is to go long the FTSE on budget day if the five days prior saw an average range of no less than Swing Trading vs. It's that this is the time of day when people are waiting for vanguard vinix stock tradestation tax forms news to be announced. This effect was shown to go back to and has increased over time. To change or withdraw your consent, click the forex thai broker coffee trading ethopian binary Privacy" link relational database for stock trading system ishares target maturity bond etf the bottom of every page or click. Instead, budget day brings some good news and tends to cause a relief rally when the new regime is announced. He has been in the market since and working with Amibroker since By using The Balance, you accept. If you make two trades per day, you win 22 trades and lose 22 trades, but your percentage return increases to 11 percent for the month. Meanwhile, under a Chapter 11 bankruptcy, the company is given permission to continue trading and reorganise which could lead to significant improvement down the road.
Through Stock Traders Daily I teach investors how to empower their competitive advantages, and in this column I will describe one of the most powerful ways I enable them to do that. The caricature of the trader is that of the frenzied Wall Streeter in front of monitors and scrolling tickers, buying and selling throughout the day. However, over many days, it should average out to at least two trades or more a day if you want to eclipse the 10 percent-per-month return mark. However, that is exactly what can happen in the case of closed-end funds which commonly trade at significant discounts or premiums to their net asset values. Momentum systems can be based on moving averages, breakouts and monthly returns and there are plenty of strategies documented on this website and in academic journals. Of course there is work that needs to be done in order to become truly proactive, to remove the burdens that weigh heavily on other investors, and to empower your competitive advantages, but once the framework is built I have provided that here it becomes mechanical, and that is what separates good investors from everyone else. New traders also need to remember that wins and losses are not evenly distributed. Trading off inside information can be illegal but directors are allowed to purchase and sell shares in their companies provided they do so in a timely manner and disclose their transactions with the SEC. The explanation for this stock market anomaly is that many people wait until the very last minute to pay their taxes and there is then a simultaneous rush to get their money into an IRA on the final day. Your Money. By using Investopedia, you accept our. This time the researchers looked at 19, seasoned equity offerings not IPOs between — and found the opposite effect. If you don't already have an account, you can open one with an online broker in a few minutes.
He has been in the market since and working with Amibroker since You can use this information to filter out trades and design trading rules based on these days of the week. One other study found that banks can lose IPO market share if they underprice or overprice too much Dunbar. Day trading is the strategy employed by investors who play hot potato with stocks — buying, selling and closing their positions of the same stock in a single trading day, caring little about the inner workings of the underlying businesses. It's called the Monday Effect. Your percentage returns will be similar in each if you create or follow a strategy that maintains the statistics above. Further, momentum trades should be preferred in the morning and reversals in the afternoon. Full Bio Follow Linkedin. Investors Chronicle writer Simon Thompson has a number of interesting anomalies concerning the UK market that he talks about in his book Trading Secrets. Here's how:. Therefore, they can be used as a guide to the current nervousness in markets. In fact, common intra-day stock market patterns show the last hour can be like the first - sharp reversals and big moves, especially in the last several minutes of trading. The book-to-market effect is one of those anomalies that makes logical sense and has a good history of outperformance which contradicts the efficient market hypothesis. The closest thing to a hard and fast rule is that the first and last hour of a trading day is the busiest, offering the most opportunities—but even so, many traders are profitable in the off-times, as well.