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It really doesn't matter what you're doing. If you're doing a good thing at a bad time, ultimately you may be getting a bad result. Almost all strategies have times when they work, and times when they don't. You always have to pay close attention to timing, to get the best results possible.
One can argue that the primary disparity between the highly successful, and unsuccessful people, is getting your timing right. Let me give you this example - buying properties is good. But we've seen people that buy good properties, at the wrong time, and losses may be incurred.
This is also very much seen in the trading world. It's like a common problem of newbie traders, they just are so eager to get into the market. They somehow feel that their required setup has not appeared, but they can't wait any longer for the right time to come. Hence, without controlling themselves they get into the markets, and lose their money.
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Some businesses have started experiences a decline in profitability, perhaps because a better competition has taken over the market, and they've been beaten to a corner. While starting up a business is a good thing, it's a very wrong time to start such a business that is slowly fading away.
Waiting is one of the easiest things to tell someone to do. But I've come to realize that most people prefer to do unprofitable things than to simply wait, and do nothing. Our primary instinct is to always act, but in technical situations when waiting and doing nothing serves you better - you have to control yourself to wait, regardless of your core instincts.
