Saturday, May 12, 2007

How to make perfect entry point on Forex

If you find out that you make trades to early and before price starts moving in your direction the stop loss is already hit. The source of this problem is you are probably using to big timeframe. Don’t get me wrong on this one it is not that you need to change it, but you need to focus more on last candles, you are to concentrated on overall picture.


Anyway if you find yourself doing such trades then do not worry, this is easy to handle I had the same issue when I started trading.


Let’s break it down.


First of all your chart interpretations are ok. You make good trades but to early. So next time try this simple strategy.


After selection of new trade, find smaller trend in opposite direction and wait for reversal, when you will be sure that smaller trend is reversed make your trade. Sure you will loose some pips by getting late in to trend, but trust me there is no better point of entering the trade.


But what is the trend reversal confirmation?


Basically it is when you have more evidences that trend is reversed I won’t talk more about it now because this is covered in my other article, besides you probably have some techniques to determine trend reversal on Forex.

15 comments:

Vancouver Freedomrocks forex system said...

Thanks for you information. I am a newbie in forex trading so it will be difficult for me to find a perfect entry point. Fortunlately, i found out how to have a good trade even thought i am newbie in forex. Please visit the website www.thesimpletrade.com
it show you how to buy low and sell high. I made a lot of money last month by using this system.

fxtraders65 said...

Forex is the best way on the web to make money easy I advise you try a practice account first but after a month or so trust yourself and your eye ball techincal analysis aint your friend the eyball is better!!

robinkipson said...

I have been trade the demo account for a three month and I have learn a lot the only thing that I am having problem with cant get it consistent. So, I don’t know how to look for entry and exit singles can someone please help me out.

Forex Entry

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Digital Equity said...

To make perfect entry on Forex we should understand when the market is retracing and when the market is trending. We should always enter on retrace so that we get more favorable trading RR. Now a days a big obstacle is proper charting which most brokers fail to provide for which understanding the market behavior and acting on it is quite difficult. So for proper chart and trading facility i support and suggest lxmarkets.com. So far in my trading career they are the best broker i have ever traded with. Simply a 7 star broker indeed.

Rahim Sterling said...

As a forex trader we know, for us, how much important trade entries. Because we know this can be determining our success or failure. It can make or break your month in the market. Also exit is equal valuable for forex trader. That why order in limit, so, you can get better price. This can give you the power to get into a trade choosing of your price. With the help of ECNCAPITAL my entry and exits are perfect.

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shahriar mahmud said...

As we know trade entries are very important in determining whether you succeed or fail as a trader. A good trade entry can make or break your month in the forex market. No amount of successful analysis will be useful if we can’t determine good trigger points for our trades. My broker trade24 make my trading way very easy. I made lot of money with their all kind of supports.

Mustakin Raja said...

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David law said...

Nice information you shared . I would like to thank you for the efforts you have made in writing this post. Thanks again & Keep it up.
Saar Pilosof

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