entry and exit point?

This is a discussion on entry and exit point? within the Forex forums, part of the Markets category; hello guys,I'm a newbie,I have just traded in FX for a few month,so that I don't have experience in entry ...

Reply
 
LinkBack Thread Tools Search this Thread
Old May 31, 2008, 5:50am   #1
Joined May 2008
entry and exit point?

hello guys,I'm a newbie,I have just traded in FX for a few month,so that I don't have experience in entry and exit point,I'm a day trader so that my strategy is to look at chart 1h to find trend,but when I have a signal of trend,I don't know how to enter the market in right way,some bro tell me that I turn back to 5m chart to find the Support or Resistence,if it's near the Support or Resistence line,wait to cross this line and after that enter the market,is this strategy right?did I have to look at stoch indicator in 5m chart to kept away the overbough and oversold ? did you have any idea for entry and exit plz help me,thank so much!

Last edited by blueday; May 31, 2008 at 6:25am.
blueday is offline   Reply With Quote
Old May 31, 2008, 8:02am   #2
 
rathcoole_exile's Avatar
Joined Jun 2007
Have you ever looked at using Pivot Points as your entry points and Targets ?

Have you ever considered using resting Buy Stops and Sell Stops rather than Market or Limit orders, so that you know there is a good chance the market is moving (Momentum) in the direction that will be profitable?

Have you ever studied Captian Currency's 3 Ducks system ?

Have you ever applied a BB/Keltner Squeeze to a 5 minute or 512 tick chart so you can see instantly when markets move into and out of consolidation ?

Have you ever traded the closure of an Opening Gap ?

Have you ever studied Nkrugers work on Divergence patterns ?

Have you ever read "Mastering the Trade" by John F Carter ?

Maybe you should consider to do
a) all of the above, or
b) at least one of the above
__________________
my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E, is it because you shout?'
rathcoole_exile is offline   Reply With Quote
Old May 31, 2008, 8:56am   #3
Joined May 2008
blueday started this thread thank for reply me,I will try all of this,but what I mean is I have a trading system for chart 1h,I use 10SMA and 20EMA in my Trading System,when its cross,it will enter to market,but I don't know I will come in immediately when it cross in chart 1h or I have to check in chart 5m to advoid S/R ,Pivot point,overbough/sold....and get in in chart 5m?what I mean is that,thank so much
blueday is offline   Reply With Quote
Old May 31, 2008, 9:03am   #4
 
rathcoole_exile's Avatar
Joined Jun 2007
no, not sure what you mean. you seem to mixing your entries between 2 timeframes ?
It's fine to use 1 9or even 2) higher timeframes as your 'anchor" chart to guide you to the main interim trend, but you should enter on your lowest timeframe to finesse your entrance.

you seem (sorry if I am wrong in my understanding) to be saying you enter on 1h charts but use 5 min to check to S&R.
in my humble opinion, it should be the other way around. Enter on 5 minute charts but check first for any major S&R at 1h level or higher....
__________________
my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E, is it because you shout?'
rathcoole_exile is offline   Reply With Quote
Old May 31, 2008, 9:26am   #5
Joined May 2008
blueday started this thread yeah,what I mean is enter on chart 5m,but use chart 1h to catch the trend.Thank you for your help
blueday is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Entry? or Stop? or Exit? RUDEBOY Psychology, Risk & Money Management 6 Dec 16, 2010 2:28pm
Entry and exit efficiency Sharkfin Trading Systems 2 Nov 24, 2006 5:21pm
entry/exit points Altern8 First Steps 9 Dec 13, 2003 1:53pm
Entry and Exit points grubs50 Spread Betting & CFDs 17 Oct 9, 2003 7:54pm
Daytrading - entry exit signals kevin546 Discretionary Trading 54 Feb 28, 2003 2:19pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)