How to get best entries point?

Beginner Questions
1

Hi guys,
Need advice on how to get best entries point so that we can ride along with the graph and optimize our profit. I have been using the MACD and EMA indicators to go for the best entries, but then again, i appreciate if there is any best methods for sharing.

Thanks.

4

Lots of variables involved in that question. I think it depends on you and your startegy.

My philosophy on entry:

  1. Entry is predetermined. I always enter on orders, never @ market

  2. I look for specific price action patterns

  3. I enter only around STRONG s/r levels

  4. I enter only if I can identify a STONGER s/l level in relation to my entry

  5. Market conditions have to be faborable to specific price action and levels used

  6. I dont trade on initial entry signal. I set my entry to an anticpated price retracement @ a better level AFTER the initial entry signal has been established. No retracement, no trade. Only 30% of my entries are triggered

5

Frankly in the past dew days, i have been using the MA crossover and stochastic indicators…but none of them seem profitable…so i change to look at D1 chart for my trends and observe M1 for my entry whenever the chart hit the lowest price…i will buy long position by hoping that tje trend will hit up…and so far seem promising.btw…thanks for sharing
…

6

Daily time frame is the best to get entries and risk reward ratio is very clear. Normally you get a ratio of 1:2 at least sometimes 1:5 and this is the thing is best entry to have minimum stop loss.

7

A different way of having an entry level is for waiting a break of a support, resistance or trend line. When the price penetrates the latter levels then you can enter the market for that direction.

8

I agree with you since the daily time frame is the best way to summarize or to get the primary direction of the market trending. But as I was to make understand that stop loss is a way of the market makers to get some profit from the traders, so I am not very fancy of setting a stop loss in my order. Please correct me if im wrong.

Thanks.

9

Thanks. I will look into the support and resistance. Frankly I havent learn how to determine the support and resistance yet. Looking forward for it…