Advice wanted on entry into a trade

I am looking for some more advice on Entries other than on news or breaks can anyone help ?

Price action is my preferred method of entry. I look at price action and I analyse on the higher time frames - daily and weekly. Then I time my entries when that price action takes effect on a lower time frame, e.g. H4, hourly or M15. With skill this achieves two objectives: 1. It lowers risk because stop levels are smaller on the lower time frames. 2. We are well positioned for a trade on a higher time frame.

There are several threads which deal with price action off support and resistance levels, notably the James 16 thread, but there are other good resources here and on the net generally.

I will read up and get cracking

This entry method has helped me quite a bit, it’s kinda of like going fishing to me. Where you would normally enter, lets just say you are about to place an order for a short on a 4hr time frame. Look above at the resistance level maybe 40-100plus pips away. Place your limit order -5 pips away and just wait till 24 hours later. If any order has been triggered then the fish took the bait. Most of the time the limit orders will still be sitting in the queue. Your risk will be reduced greatly, try it


You must grasp the 5 concept below

Fibs – took me a good while to learn it

Support + Resistance – every body know this one- try using daily, weekly, and monthly

Trend Lines- took me about 6 months

Price Action- almost got it down - best one is double top at 50% or 61.8 fib +trend line

ema – moving averages just to let you know how the condition of the market

Also, to enter the market when there is momentum will help you identify very quickly if the market goes in your direction or not. This way, it won't take you very long before you either close your position (if it is a loser) or move it to BE (if it is a winner). This is one of the best way to minimize drawdown.

If you want to start forex trading, you need to gather all the basic knowledge of forex perfectly. a demo account will be the best option to learn forex properly.

That’s true. Trend is important in trading. Trader should not trade against trend.

That’s true. Demo practice is the best way to develop skill without losing any money.

If you want to become a Forex trader, you need to make a solid plan. Without a good plan you can not make money from this market.

If you want to start trading you have to be very careful. Because a wrong decision can put your investment in great danger.

Yeah, one of the few things crucial for making a profit in this business. I also concede with the relevance of a demo account.