Here is how I define it: A good entry allows you to get out at break-even when you are wrong about the immediate direction of the trade. *immediate: depends on what time frame you are trading on, but I would say within the next 5-7 candles. How would you define a good entry? Build good relationships with others.
More interesting: How do you define good exit? A good entry allows you to get out at break-even when you are wrong about the immediate direction of the trade. So how is that supposed to work? Do you have negative spread?
my entry is exactly that,if my timing is perfect then my ideal entry will have no drawdown apart from the opening spread,the momentum would immediately take me positive .allowing a b/e trade if the lead candle does not come.my maximum risk is always 7.5 pips but my exit is unless trapped 4 pips,2 pips for drift and the spread.the remaining 3.5 pips are only used if my entry is imperfect and im in late.once price breaks any of these conditions my trade is not valid and im wrong.
A good entry is where you put in a position and the market doesn''t come back to question that position for a very long time (days or even weeks
Quoting More interesting: How do you define good exit? {quote} So how is that supposed to work? Do you have negative spread? Coming from the perspective where, as long as you take care of the losses, the profits will take care of themselves. I think fading moves is the closest you can get to trading like an institution. And I don''t mean just fade any move without prior research - fade the moves according to the context, or more specifically fade the counter-trend moves (which depends on what time frame you are trading on
Quoting Rhodie A good entry is where you put in a position and the market doesn''t come back to question that position for a very long time (days or even weeks
Quoting my entry is exactly that,if my timing is perfect then my ideal entry will have no drawdown apart from the opening spread,the momentum would immediately take me positive .allowing a b/e trade if the lead candle does not come.my maximum risk is always 7.5 pips but my exit is unless trapped 4 pips,2 pips for drift and the spread.the remaining 3.5 pips are only used if my entry is imperfect and im in late.once price breaks any of these conditions my trade is not valid and im wrong. Depends on how you look at it, I think our trading methods/ styles are different but our premises are similar. You are more of a momentum trader whereas I focus on exhaustion type of moves to get into the market. Another caveat: Getting into a good entry should be frustrating most of the times because you will see price approach your entry numerous times and then fail somewhere around it, look like it is turning BUT then eventually hit your entry. Once you sense that frustration and impatience coming in, you are on your way to getting a good entry. Build good relationships with others.
For example a recent entry on GBP/USD: I would consider this a good entry because if price moves beyond my entry and proves me wrong, I can very likely get out at breakeven. Build good relationships with others.
What is a good entry? ..is when for some given SL and TP you have positive expectancy. How do you define good exit? You have already paid spread+commission so a good (or perfect
In my opinion, a mediocre entry allows you to get out at breakeven. Of course, we always prefer a breakeven trade to a losing trade, but the way most traders view breakeven trading isn''t beneficial to their accounts - it''s harmful. Allow me to explain using the following situations: 1. trade initially goes in your favor. A trader enters the market following his/her system rules. Price moves in our favor... look at those profits! At this point, we think it''s a great idea (for some reason that will never make sense to me
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