What is your preferred moment to enter a trade? | Forex Factory

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What is your preferred moment to enter a trade?

  • #1
  • First Post: May 17, 2014 2:18pm May 17, 2014 2:18pm
Do you try to get in a trade early on before the big push happens or do you wait for a strong certain breakout below or above an areas high or low?Sometimes one situation might work and then it might not another time. For me the fear in waiting for a break of a level is that I've already missed most of the move and I'll get stuck getting involved in a pullback or sideways area that lasts for very long (plus if you were to use a last swing high or low as your stop loss, as i like to do, then this would be even farther)
  • #2
  • May 17, 2014 9:08pm May 17, 2014 9:08pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Personnaly, when I found a possible entry, I then wait for momentum confirmation. (I am not talking here about momentum indicator).
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • May 17, 2014 9:30pm May 17, 2014 9:30pm
Quoting FerruFx
Personnaly, when I found a possible entry, I then wait for momentum confirmation. (I am not talking here about momentum indicator).
yes i understand waiting for confirmation but you don't feel like you're going to possibly have missed out on most of the move or you might get caught up in a pullback as i said?
  • #4
  • May 17, 2014 9:42pm May 17, 2014 9:42pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting justin7
{quote} yes i understand waiting for confirmation but you don't feel like you're going to possibly have missed out on most of the move or you might get caught up in a pullback as i said?
That's trading. The deal is to find the right time ... not too early ... not too late!
MT4/MT5 EAs/Indicators/Alerts coder
  • #5
  • May 17, 2014 10:06pm May 17, 2014 10:06pm
Quoting FerruFx
{quote} That's trading. The deal is to find the right time ... not too early ... not too late!
Any tips to avoid this? Not trading during USA afternoon and Asia, only trading London and USA mornings?
  • #6
  • May 17, 2014 10:20pm May 17, 2014 10:20pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting justin7
{quote} Any tips to avoid this? Not trading during USA afternoon and Asia, only trading London and USA mornings?
By time I wasn't talking about sessions times ... but the entry moment. That is what you were referring in the title of the thread.

BTW, there's no session to avoid in my opinion. You can find great entries in any session ... including Asia.
MT4/MT5 EAs/Indicators/Alerts coder
  • #7
  • May 18, 2014 12:07am May 18, 2014 12:07am
Quoting FerruFx
{quote} By time I wasn't talking about sessions times ... but the entry moment. That is what you were referring in the title of the thread. BTW, there's no session to avoid in my opinion. You can find great entries in any session ... including Asia.
I understand, I believe that too, but most of the volatility and volume happens during London and USA so that's why I see that as a possibility.
  • #8
  • May 18, 2014 1:41am May 18, 2014 1:41am
Fear of missing out and fear of regret are the two biggest reasons that traders make the wrong decision.

Whatever approach you choose you will have to deal with these emotions.

Despite what anyone tells you, you will never time your entry perfectly all the time, so you will either have to plan for getting stopped out and re-enter, or accept some drawdown before price goes your way.

The worst thing you can do is try to find a way to avoid both, all you will achieve is strangling all your entries.

Successful traders find a way to deal with the pain because it is unavoidable.
tradewith60
  • #9
  • May 18, 2014 1:46am May 18, 2014 1:46am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting 60minuteman
Fear of missing out and fear of regret are the two biggest reasons that traders make the wrong decision. Whatever approach you choose you will have to deal with these emotions. Despite what anyone tells you, you will never time your entry perfectly all the time, so you will either have to plan for getting stopped out and re-enter, or accept some drawdown before price goes your way. The worst thing you can do is try to find a way to avoid both, all you will achieve is strangling all your entries. Successful traders find a way to deal with the pain...


BTW, if someone know about what I am talking about momentum, it's definitively 60m !
MT4/MT5 EAs/Indicators/Alerts coder
  • #10
  • May 18, 2014 2:29am May 18, 2014 2:29am
Quoting justin7
Do you try to get in a trade early on before the big push happens or do you wait for a strong certain breakout below or above an areas high or low?Sometimes one situation might work and then it might not another time. For me the fear in waiting for a break of a level is that I've already missed most of the move and I'll get stuck getting involved in a pullback or sideways area that lasts for very long (plus if you were to use a last swing high or low as your stop loss, as i like to do, then this would be even farther)
Either/ Or ... The only time I trade after the push is if I missed catching the turn due to not being at my screens or maybe I didn't initially notice the trade, or maybe it just didn't feel right at the time.

On the turn (catching the bot or top) I have a 50-100 pip SL, after the push my SL is 25-50 and I can buy more size anyway, so I'm not bothered too much either way.

It always looks better when you cut the turn though, so there is that
like totally failure brah
  • #11
  • Edited 4:15am May 18, 2014 3:28am | Edited 4:15am
Quoting justin7
Do you try to get in a trade early on before the big push happens or do you wait for a strong certain breakout below or above an areas high or low?Sometimes one situation might work and then it might not another time. For me the fear in waiting for a break of a level is that I've already missed most of the move and I'll get stuck getting involved in a pullback or sideways area that lasts for very long (plus if you were to use a last swing high or low as your stop loss, as i like to do, then this would be even farther)
... whatever the strategy, if it's obvious; it's obviously wrong. Therefore do the hard thing.
  • #12
  • May 18, 2014 5:07am May 18, 2014 5:07am
some data suggests buying the retrace has an advantage over buying the breakout, If I had to pick I would possibly agree

http://forums.babypips.com/newbie-is...agement-3.html
tradewith60
  • #13
  • May 19, 2014 5:26am May 19, 2014 5:26am
For trend trades, - On first corrective move

For range trades> on the second bar after price hits support/resistance
  • #14
  • May 20, 2014 11:32am May 20, 2014 11:32am
When i see best trading opportunity then immediately put my trading in.
  • #15
  • Last Post: May 20, 2014 11:39am May 20, 2014 11:39am
Quoting Danny Maina
For trend trades, - On first corrective move For range trades> on the second bar after price hits support/resistance
Good point! I'll be careful in this topic
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