Do you have different entry methods? | Forex Factory

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Do you have different entry methods?

  • #1
  • First Post: Jul 31, 2013 4:50am Jul 31, 2013 4:50am
I've been using the same method to enter the market, but now i do not have the same amount of time to dedicate to trading, and more often than not i end up in front of the screen too late or too early.
I know i could trade the higher time frames but that would mean larger SLes that i would not be comfortable with.

I know there are many ways to skin a cat....but i was wondering if any of you use only one method (like me) or if you have several different ways to enter the market.
thanks for the imput
  • #2
  • Jul 31, 2013 5:28am Jul 31, 2013 5:28am
I dont quite understand what you mean. Different ways of entering the market? You mean like strategies? You could go for breakouts, consolidations, pull backs, lots of stuff.

re: the higher timeframes, I think that even though you don't feel comfortable with it yet, this might be your best bet. If you don't have the time to actively trade, that's your best option.
  • #3
  • Jul 31, 2013 7:19am Jul 31, 2013 7:19am
Hi,

Will u please clarify your question more properly as I can't get you exactly what you are looking for.

And what I understand, If you asking for something like you want to trade in short time frames and don't have time to stay on terminal all the time, I would suggest you to avail mobile trading technologies. Almost Forex brokers provide mobile version of meta trader.

Sometimes, trade management tools are also useful to automatically enter or exit at your desired level.. you can get them too..

Hope, this is useful information for you or you may please clarify your query more briefly..
  • #4
  • Jul 31, 2013 7:56am Jul 31, 2013 7:56am
Yes, I meant profitable strategies. Do you use more than one?
regarding mobile solutions, because of my job it's not possible...the markets still need to be watched and If i cannot dedicate my full attention I don't believe I can trade well.
I already trade the small time frames, but my entry criteria is selective and the trading opportunities that arise in the day can be counted on one hand.

I wanted to know:
Do you use multiple strategies to enter the market or do you stick to one entry method?
  • #5
  • Jul 31, 2013 8:23am Jul 31, 2013 8:23am
Quoting primaguardia
Yes, I meant profitable strategies. Do you use more than one? I wanted to know: Do you use multiple strategies to enter the market or do you stick to one entry method?
Your question (or thought process) is confusing. If you knew only one method and one entry technique, and you've proven it works, then of course you should only trade this setup. Why take trades in unfamiliar/unproven strategies that you knew nothing about? But if you learned several other strategies and proof-tested their entry techniques, then why not trade the many different setups? Why stick to one when you knew that those others worked as well?

If people responded to you to say that they have several strategies, what does this answer do for you? Since you only have one entry method that you think is insufficient, then obviously you should go investigate and implement a second or third entry methods. Is there a point to ask?

One method alone can have several entry setups, for example the below "method" has 5 entry types to cover the different market price actions.

Definitions:
TST - a test of support or resistance which is expected to hold.
BOF - a breakout failure, as price breaches an area of support or resistance and then reverses.
BPB - a breakout pullback, as price breaches an area of support or resistance and it holds.
PB - a simple (single-leg) pullback within a trend.
CPB - a complex (multi-swing or extended duration) pullback within a trend.
Attached Image (click to enlarge)
Click to Enlarge Name: setups.png Size: 212 KB
  • #6
  • Jul 31, 2013 8:37am Jul 31, 2013 8:37am
I guess I have 3

1) involves buying dips and selling rallies on a pull back (my favorite)
2) involves riding momentum, usually on news (quickest profit, but less profit, worst prices)
3) involves fading momentum, (most subjective, least reliable, but offers best R/ and best price)

All revolve around taking the entry from support/resistance demand/ supply places (horizontal lines/ prices/ trend lines)

I think that about covers it
Time hides Nothing
  • #7
  • Jul 31, 2013 8:47am Jul 31, 2013 8:47am
I really though the question was pretty straight forward. there are not hidden motives or questions

If the majority of people reply that they use multiple strategies, MAYBE it would mean that I'm behind the learning curse and should keep on learning and looking for other possible ways...

It was a question out of curiosity on how others trade.
  • #8
  • Jul 31, 2013 8:48am Jul 31, 2013 8:48am
Quoting CindyXXXX
I guess I have 3 1) involves buying dips and selling rallies on a pull back (my favorite) 2) involves riding momentum, usually on news (quickest profit, but less profit, worst prices) 3) involves fading momentum, (most subjective, least reliable, but offers best R/ and best price) All revolve around taking the entry from support/resistance demand/ supply places (horizontal lines/ prices/ trend lines) I think that about covers it

Thanks Cindy...this is what i was looking for.
thank you for the reply.
  • #9
  • Jul 31, 2013 8:59am Jul 31, 2013 8:59am
Quoting primaguardia
{quote} Thanks Cindy...this is what i was looking for. thank you for the reply.
No problem, I thought it was a pretty straight forward question also
Time hides Nothing
  • #10
  • Jul 31, 2013 9:05am Jul 31, 2013 9:05am
Quoting CindyXXXX
{quote} No problem, I thought it was a pretty straight forward question also

thanks. I didn't have a drink yet and people already don't understand me.
I was getting worried. hahahaha.

I pretty much buy or sell on pullbacks...but that's all I know how to do...i tried fading the momentum but that did not work for me. (maybe I need more practice)
thanks again.
  • #11
  • Jul 31, 2013 9:16am Jul 31, 2013 9:16am
Quoting primaguardia
I really though the question was pretty straight forward. there are not hidden motives or questions If the majority of people reply that they use multiple strategies, MAYBE it would mean that I'm behind the learning curse and should keep on learning and looking for other possible ways... It was a question out of curiosity on how others trade.
Don't worry it was a very simple question, not sure why people are confused.

I use only one, if I can't enter that way then I don't enter at all even if I think I know the trend/direction.
"Don't Panic..."
  • #12
  • Jul 31, 2013 11:17am Jul 31, 2013 11:17am
Quoting mmaker
{quote} The way you asked, it sounded like another redundant troll thread. Like if I started a new thread, "Hi all, I type with two fingers. But I found that my typing is very slow. Should I learn to type with all ten fingers? Do any of you type with two fingers or you actually type with more fingers?" Threads like these just waste everybody's time responding. When the answer is simply: "Yes".
I understand what you mean...of course that was not my intention....next time i will be more direct in the answers i expect. CindyXXXX and Alifax gave me the type of reply I was looking for.
thanks you all.
  • #13
  • Jul 31, 2013 12:11pm Jul 31, 2013 12:11pm
Quoting primaguardia
I know there are many ways to skin a cat....but i was wondering if any of you use only one method (like me) or if you have several different ways to enter the market. thanks for the imput
I always enter the same way. I click the buy button to go long and click on the sell button to short.
  • #14
  • Jul 31, 2013 12:22pm Jul 31, 2013 12:22pm
Quoting 2+2=4ex
{quote} I always enter the same way. I click the buy button to go long and click on the sell button to short.
see...this is what i mean...everyone has a different style....i place pending orders.
  • #15
  • Jul 31, 2013 1:03pm Jul 31, 2013 1:03pm
I have 3 types of entry criteria. Mostly I place limit orders. You don't need to stare at charts. I place alerts in my phone and PC at home.I only look at the charts whenever I get an alert when price has retraced a certain amount.with tradeinterceptor its damn easy to place a pending order by just dragging a line on the chart.
Before I used to watch the charts at hourly intervals and it wasn't so stressful .BTW this was done at job under a hawk eyed supervisor without raising alarm.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #16
  • Aug 1, 2013 3:35am Aug 1, 2013 3:35am
Quoting pemully
I have 3 types of entry criteria. Mostly I place limit orders. You don't need to stare at charts. I place alerts in my phone and PC at home.I only look at the charts whenever I get an alert when price has retraced a certain amount.with tradeinterceptor its damn easy to place a pending order by just dragging a line on the chart. Before I used to watch the charts at hourly intervals and it wasn't so stressful .BTW this was done at job under a hawk eyed supervisor without raising alarm.
thanks for the input.
I'm not familiar with trade interceptor but I'm looking at the site now.
  • #17
  • Last Post: Aug 1, 2013 4:24am Aug 1, 2013 4:24am
If you are just trading pullbacks, why would you not be able to do the exact same thing on higher timeframes? I do this on daily charts with 50 pip stops (sometimes even smaller). Higher TFs give better levels anyway so you will probably find you will have better success on daily charts even using tight stops than you do on smaller timeframes (I did).
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