Day Trading - Entry points

Beginner Questions
1

Hi, I was just wondering if you are day trading how important and essential is it to be able to identify accurate entry points?

Reason why I ask, my understanding is with day trading the main idea is to get into a trade, get some pips and get out before the market closes, so trying to get/identify a perfect entry point is a lot more difficult as opposed to swing trades. Wouldn’t it be sufficient to be able to see what is happening with price of a currency pair identify the trend and enter the trade?

What are your thoughts/suggestions?

Thanks :slight_smile:

Ravs

2

Entry points are crucial as you earn your profits (or face losses) when you enter your trade and not when you close your trade. Think about that sentence and if you understand it you will be much better off as a trader.

3

I think they are important in relation with your stoploss and profit target points.