Which is more important? Entry or Exit of a position? - page 2

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BRAINWASHING SYSTEM

newdigital, 2013.05.16 17:33

This is example of good entry (I am traduing this system manually today for few pairs) - USDJPY M15.

We can see iTrend color, and it was above level on the bar with big dot, besides - i moved stop loss on right place ... so - it is good example of good entry (+13 pips in profit for now):

 



 
Exit is more important 
 
chandra100:
Exit is more important 
Can you explain why please ?
 
doshur:

you mean reverse signal

conditions for buy = close sell

conditions for sell = close buy

right? 

Yes only if your trading signal is ideal. It is hard to get such a ideal signal. Such a signal means you have unbeatable strategy with zero draw down. I was aiming to achieve such a signal but still have not found one. However compared to 6 years ago my current signal is far better than my old signal.
 
doshur:
Or both important? 

Or none? Find the right price direction isn't much more important than entry/exit time?

Anyway, can you explain what is the practical use of your question?

Thanks. 

 
figurelli:

Or none? Find the right price direction isn't much more important than entry/exit time?

Anyway, can you explain what is the practical use of your question?

Thanks. 

Its harder to predict the direction VS a good entry with a good exit

I want to see which one people tends to be more focus on 

 
Both entry and exist or an order is very important.
 
newdigital:

Very interesting.

Thanks ! 

 

Hi Guys, I'm of the mind that the Entry is important, but its the EXIT that is by far the most important !

Down to brass Tacks: The entry is controlled by greed and the exit is controlled by fear ( That is what I have noticed over the years I'v been Trading)

 

There are many, many people here and "Out There" who get the right trading education before they start and others who learn while running.

With a mask on.

In a forest.

Fall of pot holes and Tigers AND SNAKES!!!!!!!!!!!      You get my drift 

That is OK, we all learn things differently and at our own pace 

That is why this site and some others exist 

 

Why am I talking like a salesman. Well, I am creating a "Trade manager, EA" to handle, exactly this problem. I'm looking at newbies and intermediate traders who want to manually trade " and are a little shy of handling all the balls in the air at the same time. As we tell our Kids. Take small bites of the apple and chew it well. Same applies.

The TM will have a "Stop Loss " and a " Dynamic Trailing stop" it will as the name states manage the trade after YOU ENTER (There is a lot more to this TM than just that)

PLEASE KEEP THIS NEXT PART IN MIND        (I  NEED  MORE  BRAINS)

I'm not here to sell it, I HAVE A QUESTION. I want to add to it a simple and easy to understand (We are dealing with learning here) Indicator that will help identify entry. I don't want heaps of indicators all over the screen. I have spent so much time trying so many different indicators over the last couple of weeks and they either repaint to much or lag too much. Support & Resistance is great, but try to find a good one! It's not easy

 

If you can help it will be greatly appreciated  

 

Exit of a position is more important than entry.Whatever we do will never exit a trade exactly at the point of the high on a buy or a low on a sell.it permit us to exit into strength when we are holding a long position or on short positions cover into weakness.

Normally a trailing stop is in used to realize this purpose. A trailing stop follows a price to secure profits as the trade shifts in the traders favor; a trailing stop should never be moved the wrong way. Trailing stops can be calculated exactly the same way as you calculate a stop loss. 

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