How to Find The Best Entry for Your Trade

These are the top 5 best entries in any day trading strategy. Weather you are trading forex, crypto or indices The best entry practices will help you keep you risk low and profits high. Most people struggle with their trade entries. They either get in a trade too soon or too late. Using the techniques from the video will help you not only get the best entry for every trade. It will also keep you win rate much higher overall.

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As day traders, we all strive to get perfect entries on our trades. You know, the entry where you are green on the trade right from the start. While it’s nice to catch the exact top or bottom on a trade, it’s much easier said than done. That said, your entries don’t need to be perfect for a trade to be profitable. If you follow a few basic trading rules, you can plan better entries and, consequently, better trades.

Patience
It’s very easy to get trigger-happy when you are sitting behind the screen hunting for trades. The mere act of “doing something” can seem more productive than doing nothing at all. As we discuss time and time again, it’s important to act intentionally and save your buying power for prime setups. When considering entering a trade, patience is key.

You don’t need to watch the stock like a ninja waiting to pounce on the perfect entry, BUT you do need to give yourself the best chance of executing a profitable trade. Your entry is key to the success of your trade and will heavily influence your exit.

Before entering a trade, make sure you are initiating a position for the right reasons. Many traders enter trades impulsively and have buyers’ remorse immediately after. Remember this: it’s better to wish you were in a trade than wish you weren’t. If you miss a trade, there will always be more trading opportunities. If you enter a bad trade, you can put yourself at risk of taking unnecessary losses or even blowing up your account.

Planning Better Entries
Reference the Daily Charts
After staring at a 1-minute chart for hours, it’s easy to get tunnel vision and forget that every stock has a history. This history is vibrantly illustrated on the daily chart and allows you to better understand the crowd you are trading with. Use the daily chart to pinpoint significant support and resistance levels.

Understanding important price levels can give you a better idea of where people plan to buy and sell. You don’t have to enter a trade AT those levels, but you should be aware of them. As of recent, many stocks tend to break these daily support/resistance levels before settling back over/under them, which makes for great trading opportunities.

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Видео How to Find The Best Entry for Your Trade канала The Moving Average