Entry is THE most important variable of the trade & sets the table… it dictates defined risk, RR, targets, ability to ride the winner, etc.. it basically dictates the entire trade from concept to completion… sloppy entry equates to a sloppy trade, IMO. My mantra is stubborn on entry.. flexible on exit! Master your entry and the rest is a cake walk as the remainder will follow! even excellent entry’s will result in a losing trade that will go against you from time to time.. does not mean it was a sloppy entry… Accurate, patient entry will result in a winning trade 9 out of 10x… patient, accurate entry will enhance your discipline and your craft/ Methodology!
That's interesting. Most people in this thread seem to hold a different opinion: How do you like trading this volatility?
If one really wants to obtain high winrates, he has to master his entry techniques for different setups since they aren't the same. I bet most traders can't make money consistently due to this factor. There is little room for errors when it comes to scalping well. It's almost the same for daytrading, except it's somewhat ok to have poor entries as long as he gets the big picture right.
1. Why do you believe that day trading will be more net profitable than proper swing trading? 2. Position management is, in my own personal opinion, incredibly neglected by most and is just about as important as an entry.