Young Financier

Damn good breakdown. Since making this thread, I've switched to a much similar strategy. I was too concerned with the intricate details of entry instead of just getting in when the environment was right.

I've spoken with a few traders on this s ubject but I'd like to see how many of you go about entering a trade. For myself, I trade swings (1-4 day moves) for the most part off of the daily chart. I've used a method where I analyze a probable turning point and will place a buy stop above a strong bull bar (candle), one that finishes near it's high and the reverse for selling/short resistance. That way, I'm entering on momentum and increasing the chance that I'm right. I also don't like for the market to pull back too much against me. I like quick conformation. At the same time, it's sort of like paying an insurance premium to increase the likelihood of being right. However, to do this, you enter further away from a danger point (swing high or low). There are others who simply buy or sell in an area of supply/demand or support/resistance and wait it out to see if they're right. IE: Selling really close to the top of a resistance level and placing a stop at a swing high. This method sounds good and highly profitable if you're right especially since you'd increase your risk reward. These guys don't enter blindly at these points, of course, They'd usually wait until there's a sign of strength at the bottom or a sign of weakness at the top and get in as close as they can to the bottom or top with a market order or maybe on a lower timeframe. What method(s) do you use?