In my opinion, the “entry” is one of the least crucial elements in trading. What’s more important is making the proper prediction in terms of
1 — Where the market is likely to reverse. (Killzone)
2 — Where price is likely to go if you’re right. (Profit Targets)
3 — Where price needs to go in order to show you that you’re wrong. (Stop Loss)
With that being said, the entry still holds some importance because it tells you WHEN to involve yourself in the trade & in many cases it can also provide you with extra confirmation that the market is more likely to follow through with your prediction than not.
The next common question that I get when speaking to traders about entry techniques is “what type of entry is the best?” Like in most cases when it comes to trading my response is “there is no best, only what’s best for you.”
I say what’s “best for you” because as traders (and people) we all have different philosophies & personalities when it comes to trading. Meaning, some of us are aggressive & some of us are conservative. Some of us put power in price action, while others value indicators. Some of us desire a high win rate while others could care less about it.
This list of differences could go on and on forever. The point is WE ARE ALL DIFFERENT and our trading style should reflect that.
For more information on the differences in entry techniques, check out this YouTube video
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