Greetings, how many of you traders, put "Entry Limit Orders" in to the market at certaing support/resistance levels, where you think price will test it and turn back at exact that point ??? that happens all the time ?? for example, you trade a pattern right now, and you know there is a high percentage that at your exit, the price starts a new pattern in the opposite direction, - will you then put an Entry limit order above/under your Exit limit order of the current trade, so that you be right back in the market after you`ve took profit of trade 1. How to get the selfconfidence that price turns exact at such an point. Is this bad trading ??? thanks for replies
Hi, just to make clear what i want to ask !!! I just want to know if here are any winning trader who, put Entry Limit Orders in the market at a certain price, a long time before price will be there ??? Together with the knowledge, that at exact that price, the move will turn ??? OK, i just want to know, it someone does this. I know there are traders who trade this way, i can see it in the market behaviour. Thanks
Playing with support / resistance levels in testing and retesting. action and reaction, within the major energy cycle. I know there is 70% probability price will turn back after tested this price level to continue in the major trend. Shall i put an entry limit order in or shall i wait for better clearer signals and maybe getting worse price ?????????
Yo, thanx for the heavy talk....... I found the answer for my self...... Trading Range and the bigger pictures is the answer. Thank you for nothing.
i trade that way after i was prohibited to enter on momentum by brokers. All sorts of excuses. Of course every time would be winning trade. Win rate 80+%. Missed couple entries in a row now for peanuts, and made some minor adjustment to entry level formula. Have not made yet 100 trades that way so may have been lucky so far.
it's the best we could do given the circumstances... let us know if anything else is bothering you, no really, let us know, ok?