How to make perfect entry point

Hello
How to make perfect entry point?
"Make trades to early and before price starts moving in your direction the stop loss is already hit. The source of this problem is you are probably using to big timeframe"

What do u think?
Should the entry point at next starting candle not middel of the candle?

All comment and suggestion r welcome

in the world of stocks, ever common advice is to start with a wide stop and close up the percentage as you enter profit ---- always remembering that you should be pretty danged certain youve set your trade in the right direction (LOL)

works for any and all trading

trade well and enjoy

m p

Hello man from what my teachers have taught, you should never make an entry in the middle of a candle. No matter what time frame the candle is in you should always wait until the end of the candle also watch out for the trend that is established.

unfortunately, because of many reasons (mostly based on the many timeframes) your teachers are only partly correct, although being aware of trend, and the time of day you are in that trend is very right on.

entering in the middle of a longer timeframe candle should be verified by the shorter timeframe candles to see short term direction, BUT if looking for profit, it is of no matter really as long as one prepares for a possible drawdown by using some decent form of money management.

In this case above, I would venture the OP is simply setting his/her stops too tightly (if not, and the trend direction is correct, they simply would NOT be hit !)

now i have to admit i never set stops, relying more on experience in the markets and ability to know trends and support and resistance --- what i WILL do is let a loss accumulate for a while and if i cant convince myself it will come back within a week, I will close the loss and set either a buy or sell stop at the point i exited and wait for the market to come back to my position.

and i must grant that the above is NOT for the newb, faint of heart or in-experienced trader --- but does extremely well for the intermediate and experienced trader (who probably is already using some version of what I do anyway !)

enjoy and trade well

mp

Breakout entries with entry-stops are perfect IMO.

Choosing an entry and exit point makes 50% of a successful trade. Here are the tips you need to consider while entering a trade.

Thank you for the detailed advice!

If you want to become perfect in this platform, you have to make a good and profitable plan.

Hi, Newbie question,

What difference does it make if you enter on the centre of a candle? Surely if you watched the 5 minute chart the entered on that when the candle changed, it may be in the middle of the 1 hour chart?

That’s a good advice. Don’t trade without proper confirmation. Otherwise leave the trade.

Quite an interesting topic

One can get obsessed about the perfect entry... however the perfect entry is something that only can be judged in hindsight....

I was quite obsessed with perfect entries in my earlier years trading now I couldn't care less.. because really for me the part that matters is after the entry

Technically i trade levels of a daily chart and i do not wait for confirmations so once a level is hit i'm selling even 5 pips before its no real issue so for example if i see a level on the eurusd at 1.1850 for example and i want to short ill probably short anywhere from 1.1840-1.1850
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Other than a good entry one needs a good exit too - that one is just as important as the good entry.

making perfect every point i think its not completely possible at all times , because there is no 100% anything in this market place.

How do I find weekly direction? what are some pointers?

I use finiz for strength, but this can change during the day

I use larger time frame with trend lines top and bottom, but I think the most consistent is the higher high and low etc on a 1 hour chart? can someone suggest something else?

I have good money management and entry and exit, but the weekly trend is keeping my win rate still too low

thanks

you kind of have answered your own question.

The answer is it changes at any time. News events can change sentiment, change market direction etc.

Paying attentions to fundamental news and market themes is best way for direction ...

You have to learn all the basics of forex perfectly if you want to become successful in this market. Without proper knowledge, you can not survive in this market for long.

Close to support and resistance on a range bound market. For a trending market it got to be ideally after a counter trend.