Good day friends, please i want to know the right time to enter a trade? I want to know more about trade entry. Which indicator can I use as my trade entry?
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This is a short question with about ten thousand answers. It is something I have spent a great deal of time wondering about for the past 15 years, but I think I have finally concluded the following:
First step - decide on what indicators show you that price action is presenting you with a profit opportunity set up
Second step - you are in the zone, and now decide which indicator you are going to use to determine your money at risk, and therefore to size up your stop loss
Third step - with the stop loss known (in PIPs) from second step, decide at what price you will enter, and whether your entry shall be long or short.
Fourth step - decide on the price that will be your entry point
Fifth step - manage your trade according to your strategy
Sixth step - exit the trade, write the trade journal entries, wait for the next setup opportunity and rinse and repeat from step 1.
I know that did not answer your question directly, but I think you will find your own answer to your question when you look at it in the context of the lifecycle of a trade from setup to exit.
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Depends on your strategy - what is your plan?
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Looks like you may be in need of a babypips lesson link:
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Thank you so much sir
I use the no nonsense trader algorithm but I am having issue with my trade entry.
We don’t use support and resistance level,
SO I think i need a good indicator for trade entry, can you help me with a good ones?
I know about macd but it’s doesn’t work too well
Yes for sure. How long have you spent learning from VP about NNFX. For me, it has exceeded 200 hours, and I have yet to do the backtesting. I have not entered a single Forex trade since about 24 months ago and will not do that until I am fully committed to that system, and know it inside out. You should not be having an issue with your trade entry. I will ask you two questions which if you can’t answer, it means you did not yet understand NNFX.
Q1. How many Forex pairs do you analyze when you are looking for a setup?
Q2. When you have found a potential trade entry, what indicator do you use to calculate your stop loss?
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Sorry for the late reply. I have been into forex trading for close to 2 years now. I have learnt from VP for about 4 months now. We use the ATR indicator to calculate stop loss.I can use the macd for trade entry but I need a better one, that’s what I want. What’s your idea?
There are hundreds of answers to this; it depends on strategy
Choosing your entries is really not about using indicators. This is down to candlestick behaviour and price action.
Alright I am glad you put context to this.
As someone who traded NNFX for a good a year, and still do at times, I hope my answer will help considering you have collected all the keys of the Algo.
So here we go
Once all the signals of the algorithm align, your
entry is the close of the candle after the candle has crossed the baseline. It’s as simple as that. Word for word what he said. And you can’t miss it.
But the fact that you ask the question tells me you are not trading his algo on the Daily Chart as he strongly advised. And you probably trying it on smaller timeframes right?
Nothing wrong with that. However this is where your knowledge of price action and time frame relationship adds up to the algo. And the rules change a lil bit.
For example: If you try his algo on a 10min chart, not only your indicators should be set to match the rhythm of that timeframe, But you have to make sure that your entry is the retest of the baseline after it has been crossed, once all the signals are aligned.
The reason he stresses that we should only use it on the daily it’s because the daily chart Filters out all of that noise. And it helps your entry indicator gives you very minimal to no false entry signals, compare to shorter timeframes. And that’s probably why you are confused about the entry, cuz it’s stopping you out too fast or it’s getting you in too early, or getting you too late. There is no consistency. It took me a while to figure this out as I wanted to trade it on the 15min, but once you recalibrate the algo to the smaller time frame, and apply price action, the algo is unstoppable.
If you do not trust your knowledge around the mechanics behind the indicators you’ve chosen for the algorithm just yet, or your knowledge of price action, I will strongly advise you to stick to the daily chart. And you will never miss the entry. The Daily is the best timeframe for a reason 
Side note: It is important for you to understand that you will not trade with his algorithm as well as he does. That’s why he stressed that everyone who follows him should only use it on the Daily chart.
As far as the indicator, the MacD was amongst the best for entries when I was trying to find my entry indicator … practice just a bit more 
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The simplest complete trading strategy (maybe not the best) basically involves buying on recovery from pull-backs during an uptrend.
On the daily chart find a stable uptrend: wait for 2 consecutive days which have lower highs and lower lows: set a buy order above the second day’s high with a stop-loss below the day’s low: adjust position size to 1% of your account capital: set a take profit order at 1.5 times the stop-loss distance. If the third day has a lower high and a lower low the order will not be triggered, so lower the order price to the third day’s high. Etc. etc.
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Thank you so much. I really appreciate.
The answer to this question varies depending on many different factors. It is impossible to pinpoint a universal entry time that applies to all market players at all times. The more experienced you become as a trader, the more you will understand your personal style of trading, the more specific your entries will become.
As my Opinioun do not use any indicator work on S&R thats a best place to enter a trade to any direction
Sorry I don’t understand this. Are you saying that you place a long trade when the price reaches the support line (counter-trend) and place a short when the price reaches the resistance (counter-trend) or are you saying wait till the price breaks through the S or R level, and trade long when it breaks R and trade short when it breaks S?
Exactly, Draw Support and resistance and wait for break and retest or rejection. also us trend line with this statergy for confirming the trade .I reject Indicators because all indicators are lagging moves after the price moves so its good to know before .
Sorry I still do not understand.
Do you trade with trend or counter-trend?
And what is your success ratio and reward/risk ratio over all trades?
Trade with trend not counter trade . Look draw a Support and resistance level . and then find the trend on higher time frame and amd draw trend lime . now you know the trend is bullish so its easy for you to find a best long entry
my RR is 1:2 and some times 1:3 with 80% winning ratio