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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 Trading FAQ forums, part of the First Steps category; I thought this may be a useful thread for newbies, or anyone designing there own system/strategy. My system is divergence ...
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May 22, 2008, 1:48am
| #1 |
| Veteran Member  Join Date: Nov 2006 Posts: 860
 |  What trigger(s) do you use to get into a trade ?
I thought this may be a useful thread for newbies, or anyone designing there own system/strategy. My system is divergence based, but, as we all know - you will need a 2nd confirming trigger once the divergence pattern shows a possible long or short. What do other members think/use ?
__________________ Success is the ability to go from one failure to another with no loss of enthusiasm. Sir Winnie Churchill Success in trading is the ability to go from one losing trade to the next without changing your strategy..... Winnie the Pooh |
 
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May 22, 2008, 2:50am
| #2 |
| Legendary Member  Join Date: Jun 2007 Location: Krung Thep Mahanakhon Posts: 2,799
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we've just entered the rainy season, so if it's pishing down I go Short, if it's sunny I go Long Cloudy weather is consolidation, waiting for a breakout either way |
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May 22, 2008, 6:27am
| #3 |
| Senior Member Join Date: Feb 2007 Posts: 402
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sounds like a good idea to me  one thing which can be overlooked by newbies like me is a clear trade strategy/plan and pulling the trigger is an issue in itself.developing firm rules or at least guide lines on WHEN and WHY to pull the trigger once your setup is identified is,imo, VITAL to long term profits. i hope people will contribute. personally i look for a number of signals to say the same thing and together point to confluence and the reliability of the trade.these signals can differ from setup to set up but mainly i look for confirming candlestick patterns with confluence,e.g.divergencies,stoch crosses etc. for me indicator signals are SECONDARY and serve as confluence only. the chart attached shows what i would look for.all the bullish signals give me confidence in pulling the trigger on the break. i hope this helps,happy hunting |
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 The post above is recommended by: nkruger |
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May 22, 2008, 6:32am
| #4 | |
| Veteran Member Join Date: Nov 2006 Posts: 860
|  Quote:
__________________ Success is the ability to go from one failure to another with no loss of enthusiasm. Sir Winnie Churchill Success in trading is the ability to go from one losing trade to the next without changing your strategy..... Winnie the Pooh | |
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May 22, 2008, 6:34am
| #5 |
| Veteran Member  Join Date: Jan 2006 Posts: 970
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instinct.
__________________ Is life so dear that we should blame men for dying in adventure? Is there a better way to die? |
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May 22, 2008, 7:12am
| #6 | |
| Legendary Member Join Date: Jun 2007 Location: Krung Thep Mahanakhon Posts: 2,799
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 seriously, good post above though, garry | |
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May 22, 2008, 7:15am
| #7 | |
| Legendary Member Join Date: Jun 2007 Location: Krung Thep Mahanakhon Posts: 2,799
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you're suddenly starting to make a lot of sense now that you're maturing as a trader. good work ! garry | |
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May 22, 2008, 7:19am
| #8 | |
| Veteran Member Join Date: Nov 2006 Posts: 860
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Brilliant piece of prose mate, well done  Now back to the thread. I also use ~ Pivots, Candlestick Patterns, ParaSAR. And finger, licked, then poked out of the study window....
__________________ Success is the ability to go from one failure to another with no loss of enthusiasm. Sir Winnie Churchill Success in trading is the ability to go from one losing trade to the next without changing your strategy..... Winnie the Pooh | |
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