Hey Folks,
I just stumble about different entry technics after a trend trading signal.
Here is what I have. Please add more if you have.
I differentiate between static signals (e.g. support, Resistance) and dynamic signals (trends, oscillators etc.)
1)static Signal occur > Direct Jumping into the trade
2)static Signal occur > Wait for retrace (e.g. 10 pips) from signal, example: Signal at 1.3500 for long, entry only if 1.3490 is hit
3)static Signal occur > Wait for extra 10 pips in favored direction after signal occured and enter on original signal if market comes back (e.g. Signal at 1.3500 for long, wait till 1.3510 and wait till back till 1.3500, only than enter
4)Process of 3) and than you wait again until 1.3510 is hit, so you have confirmation that 1.3500 long signal was holding.
1b) dynamic Signal occur > Direct Jumping into the trade
2b) dynamic Signal occur > Wait for retrace (e.g. 10 pips) from signal, example: Signal at 1.3500 for long, entry only if 1.3490 is hit but ONLY if dynamic Signal is still valid
3b) dynamic Signal occur > Wait for extra 10 pips in favored direction after signal occured and enter on dynamic signal retrace (e.g. Signal at 1.3500 for long, wait till 1.3510 and wait till back to dynamic signal, e.g. 1.3504 (because the dynamic signal like RSI will rise due time elapsing)
4b) Process of 3b) and than you wait again until 1.3510 is hit, so you have confirmation that 1.3500 (or 1.3504 dynamic RSI for example= signal was holding.
I know lots of pro traders use 3 or 3b, some even wait for confirmation of these and use 4 and 4b.
Do you have any other entry technics? Thanks in advance.
I just stumble about different entry technics after a trend trading signal.
Here is what I have. Please add more if you have.
I differentiate between static signals (e.g. support, Resistance) and dynamic signals (trends, oscillators etc.)
1)static Signal occur > Direct Jumping into the trade
2)static Signal occur > Wait for retrace (e.g. 10 pips) from signal, example: Signal at 1.3500 for long, entry only if 1.3490 is hit
3)static Signal occur > Wait for extra 10 pips in favored direction after signal occured and enter on original signal if market comes back (e.g. Signal at 1.3500 for long, wait till 1.3510 and wait till back till 1.3500, only than enter
4)Process of 3) and than you wait again until 1.3510 is hit, so you have confirmation that 1.3500 long signal was holding.
1b) dynamic Signal occur > Direct Jumping into the trade
2b) dynamic Signal occur > Wait for retrace (e.g. 10 pips) from signal, example: Signal at 1.3500 for long, entry only if 1.3490 is hit but ONLY if dynamic Signal is still valid
3b) dynamic Signal occur > Wait for extra 10 pips in favored direction after signal occured and enter on dynamic signal retrace (e.g. Signal at 1.3500 for long, wait till 1.3510 and wait till back to dynamic signal, e.g. 1.3504 (because the dynamic signal like RSI will rise due time elapsing)
4b) Process of 3b) and than you wait again until 1.3510 is hit, so you have confirmation that 1.3500 (or 1.3504 dynamic RSI for example= signal was holding.
I know lots of pro traders use 3 or 3b, some even wait for confirmation of these and use 4 and 4b.
Do you have any other entry technics? Thanks in advance.