DislikedNow, what I want to stress to newer traders is that you can learn all of these things about picking a good entry point but the next part of the puzzle, and probably more importantly is identifying your FTA(First Trouble Area) and understanding the power of support and resistance....
Please just understand that it is not all about the entry and that managing the trades comes with hours of screen time. .
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All you have to do is look at charts and this is everywhere. A strong exit strategy can turn a poor entry into a good trade, or a great entry into a poor trade.
I know this is probably my biggest short coming right now and will be a big focus for the foreseeable future. I have been so focused on identifying S/R to enter trades that I haven't been giving that same focus to managing/exiting. I either don't see trouble and get a suprise...or to me even worse, see it but don't react when it gets there.
It took me several times of reading, but I now fully understand what Mike and others mean when they say "you simply can't take a full bar loss in this situation."