Hi everyone, I’m Kurtic. Have been trading for 3 years. Glad to be a part of this community. Feel free to share with me any tips on finding the best reference points to enter a trade, that seems to be my main problem.
Welcooome! Are you following any particular strategy right now? It might be helpful test out a strategy that also has entry signals.
What is important is aiming to be on the right side of a trade. Focus on finding S & R or S & D zones where losing traders would either get stopped out or would close their trades to limit their losses.
This can be identified by looking for trends and using whatever chart suits your style. I start with the Daily and move down to the 4hr entry.
On an upward trend, I place my T/P several pips before the resistance level gets hit with a similar space below for the S/L to cater for a minor retracement This is critical placement that offers over 60% winning
The rationale is I’ve identified an area where the probability of a winning trade is positive. Which makes RRR redundant.
Today’s trade could be the USD/CAD which is testing a new high resistence level. If it marches through 1.3325 it could be profitable continuing with the trend.
best of luck.
Welcome to fine people
There is a strategy I’m studying but the entries are not as accurate as I want them to be
Hey, nice to meet you. Glad to know that you’re an experienced trader. Please share your trading experiences with us.
Which entry criteria have you looked into in the past 3 years that haven’t worked for you?