I'm posting this question in the rookie section of this forum because I'm guessing its one of those noob mistakes.
I've been trading for a little over a year and I've developed my system to a point where I can "predict" the market accurately enough to be profitable over the long term. However, if I think the market is going up, for example, I would buy at market with a 50pip SL with no TP. I've tried many alternatives, like setting a limit order at the nearest S/R level or putting a 100pip TP but I always seem to enter too early when i enter at market, the LE rarely gets hit or the stop gets hit often because I'm too early, or the TP is too close/far.
This problem becomes really frustrating because I'll watch huge winners become losses/BE or get stopped out and watch the market go exactly where I expected after it picks up my stop or I'll close a position early and watch the market go where I expected.
So my question to who ever can answer it is:
What would you advise as the best method to set entries, stops and TPs?
If you have any articles or posts or any info like that can you please post a link so I can read them?
Other info:
I trade PA, S&R and ICH cloud so if you have links to articles about those systems I'd really appreciate it.
Thanks in advance.
I've been trading for a little over a year and I've developed my system to a point where I can "predict" the market accurately enough to be profitable over the long term. However, if I think the market is going up, for example, I would buy at market with a 50pip SL with no TP. I've tried many alternatives, like setting a limit order at the nearest S/R level or putting a 100pip TP but I always seem to enter too early when i enter at market, the LE rarely gets hit or the stop gets hit often because I'm too early, or the TP is too close/far.
This problem becomes really frustrating because I'll watch huge winners become losses/BE or get stopped out and watch the market go exactly where I expected after it picks up my stop or I'll close a position early and watch the market go where I expected.
So my question to who ever can answer it is:
What would you advise as the best method to set entries, stops and TPs?
If you have any articles or posts or any info like that can you please post a link so I can read them?
Other info:
I trade PA, S&R and ICH cloud so if you have links to articles about those systems I'd really appreciate it.
Thanks in advance.