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

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Splitlink

Legendary member
10,850 1,231
#32
I use swing charts for set-ups, wait for a pull-back against the trend, then watch the daily bars. My entry trigger is the market going back in the direction of the main trend by breaking yesterday's bar. I got about one trade a week, on average, during 2007; less during 2008.
If you are happy with one trade per week, you need go no further. The pullback system is, IMO, the only way to go. I don't like the risk taken, via SL distances, that daily bars
entail. In fact, hourly bars are too risky for me, so I use a lower TF. That doesn't matter, though. Everyone has to trade with the character that each of us has and each TF has its pullbacks.
 

fayalac

Established member
560 14
#33
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.
 

amit1986

Experienced member
1,100 66
#35
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.
 

amit1986

Experienced member
1,100 66
#36
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. :)
 

fayalac

Established member
560 14
#38
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
 

dgtrading

Active member
205 16
#39
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
 

malaguti

Senior member
2,272 424
#40
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)
 

dgtrading

Active member
205 16
#41
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)
yep, so simple and obvious on the chart and highly consistent.

it's also very easy to spot when a trade is starting to turn against you using this principle
 

superfly

Established member
512 44
#43
LONG ANSWER



Timing
That said, ideally, a good entry trigger will have a failsafe facility that will, hopefully, keep you out of trades that you don’t want to be in.


This made me curious. what do you mean? Do you have an example of this?

The setup must be contextual and technical perfect , thanks for that nugget.
 

NVP

Legendary member
36,150 1,760
#44
Some great ideas here.....great thread

For me now as a scalper and using currency indexes to drive signals I am looking for,lead,currencies that are really driving the momentum on London session ......ideally either euro or gbp....

I adopt standard pa patterns on my currency indexes .....support and resistance plays......or simply playing them as they retrace back into the days trend .....that allows me to,bounce the Europeans off the usd as secondary currency ....or perhaps bounce the euro,off,the yen if it's more obliging.....

Usd is mostly always one of the currencies in my pairs traded.....I also,will take aud or the cad if they are volatile In the London session trading against the usd .....but only if the Europeans are flat and not giving me the momentum I need to make profitable scalps

N
 
Last edited:

arigoldman

Established member
626 10
#45
Some great ideas here.....great thread

For me now as a scalper and using currency indexes to drive signals I am looking for,lead,currencies that are really driving the momentum on London session ......ideally either euro or gbp....

I adopt standard pa patterns on my currency indexes .....support and resistance plays......or simply playing them as they retrace back into the days trend .....that allows me to,bounce the Europeans off the usd as secondary currency ....or perhaps bounce the euro,off,the yen if it's more obliging.....

Usd is mostly always one of the currencies in my pairs traded.....I also,will take aud or the cad if they are volatile In the London session trading against the usd .....but only if the Europeans are flat and not giving me the momentum I need to make profitable scalps

N
Sounds great!
 

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