In trading, strategies and emotions play a significant role. Apart from this Entry and Exit also play a crucial part. The way you make your entry and exit determine whether the trade will end up in success or loss. Although, you can't expect the perfect trade entry all the time this doesn’t mean that it is not possible.
THE THREE PRIME KEYS TO ACHIEVE THE PERFECT TRADE ENTRY
- Have a daily chart time frame to tune yourself emotionally and look for evident price action signals. The chart time frame in a trading session that regularly befalls during the end of the day would be the best to analyse & plan the trading strategy because those traders who tend to trade all day long seems to be in a more disturbed state of mind. When you are continuously viewing the charts to carry on with trade and when you are anxiously waiting for a trade to emerge well, ends up in a low probability trade then the chances of you making impulsive decision up rises. So sit back and relax to earn the best in trade even if the market success opportunity evolves once in a while. As mentioned earlier never skip to look for signals and patterns that would turn the situation of the market from downtrend to uptrend, and vice versa.
- The Second thing to look for would be the meeting points of the trend line in a Chart known as confluent factors. Spot these kinds of signal and back trace the occurrence of such a pattern going through a historical chart.
- The Third key would be to reconfirm the occurrences of these confluent factors to justify your ideal trade entry point with maximum risk to reward ratio.
SO REVAMP YOUR DAILY ROUTINE AS BELOW
- Have a look on the charts
- Scan the signals
- Use the signal as a way to make perfect entry
Although there is no guaranteed method to get a perfect trade entry, still we have options to look for the trades with confluence. Maintain a regular checklist and plans so that it will enable you to derive and interpret the genuine signals alone. The plan must be prepared according to you and your personality in trading. The best entry can give you the best breakthrough for the month. The reason to have the best trade entry is to improve your influential risk reward.