What trigger(s) do you use to get into a trade ?

This is a discussion on What trigger(s) do you use to get into a trade ? within the New to Trade2Win forums, part of the Reception category; Any method will answer basically two questions, 1) when to enter (trigger), 2) when to leave (target). So i guess ...

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Old Sep 11, 2010, 2:30pm   #33
 
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Re: What trigger(s) do you use to get into a trade ?

Any method will answer basically two questions, 1) when to enter (trigger), 2) when to leave (target).
So i guess you should define your method (best suitable for you) and you will find your triggers.
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Old Nov 4, 2010, 6:54am   #34
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Re: What trigger(s) do you use to get into a trade ?

Good ole Fibonacci levels and support and resistance!
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Old Nov 4, 2010, 4:19pm   #35
 
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Re: What trigger(s) do you use to get into a trade ?

Level 2/Time and Sales is my trigger. If the chart setup is good but momentum on level 2 isn't there, then I will not take it. If the chart is not too good, but the level 2 momentum is brilliant, I may take it, but being careful about my stop.

So, level 2 is my trigger.
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Old Nov 4, 2010, 5:07pm   #36
 
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Re: What trigger(s) do you use to get into a trade ?

Hmm, well just read through the thread and it seems most of the posters are swing traders. For swing trading, level 2 is much less useful. For intraday trading, however, here's what I meant:

Chart setups provide a visual explanation of what is happening to price. However, trading simply off charts will not provide an edge to anyone. This is because anyone and everyone can notice chart patterns and trade off them - there is so special skill required to do so. In order to have the edge, you need to bring something unique to the game - a skill that takes time to develop, and most importantly, a lot of effort.

My skill that I am constantly developing is the reading off the level 2 screen, which shows all the bids and offers in the market of a particular stock. By reading the level 2 screen, I am able to add another dimension to my trading and most often, I can see what is about to happen to a stock before it actually happens. So, I can get into a trade several cents before all the chart traders jump on board.

For example, prior to a breakout, if I observe strong bid pressure, I will usually jump on board before the breakout and be able to get a healthy profit out of it. In this respect, the level 2 screen is my trigger and also keeps me out of many a false breakouts.

I won't be right all the time, but with momentum trading, if the stock doesn't do what I expect it to do, I can be out with a small loss.

Hope this explanation was clear enough.
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Old Aug 9, 2015, 3:51pm   #37
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Find the niche that suits your trading style best as different markets have different behaviors.
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Old Aug 9, 2015, 4:00pm   #38
 
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Quote:
Originally Posted by cuotes View Post
Different markets, different criteria.

But always wait until volume confirms the move.

Rains or shines.
Within a wide spectrum you´re right, however markets follow a basic logic, of course you´re right if we consider as different markets 1) currencies, 2) indices and 3) comodities
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Old Aug 24, 2015, 7:35pm   #39
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turning points;

when higher highs and higher lows turn into lower highs and lower lows ( and vice versa)

pretty simple and applies to any timeframe, my favourite trades are turning points on the daily chart in line with the weekly
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Old Aug 24, 2015, 9:33pm   #40
 
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Quote:
Originally Posted by dgtrading View Post
turning points;

when higher highs and higher lows turn into lower highs and lower lows ( and vice versa)

pretty simple and applies to any timeframe, my favourite trades are turning points on the daily chart in line with the weekly
here here, an inverse head and shoulders reversal on the daily in line with the weekly trend..great set-up and happens all the time, on all timeframes (I just prefer higher TFs)
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