i would say it is dependent on what type of trading you are doing. if you are scalping size for nickels, then both are equally important as you don't want slippage on either execution's end. if you are looking to hold for longer periods and price moves, then having the discipline to your planned exits is more important as a few pennies here or there on entry don't matter as much. however, if it is a matter of deciding to go long or short, then the entry direction is just as important as the exit.
I focus more on my entries than my exits. The majority of my trades are intraday trades, so the less precise that my entry is, the less attractive the trade is. Focusing on entries is a lot different than worrying about entries. I don't disagree that trade management is important, but trade management seems to be more important the longer that your timeframe is. In the near future, I will find out as I begin to execute more multiday holding periods. BTW, I consider myself a rookie and I've been at this day-in and day-out since December 2006. I wonder how the "experts" here determine whether someone is a rookie or a veteran.
As previously stated, BOTH are important. However, I would definately say that exits are more important. I have general criteria that must be fulfilled before I enter a trade, but the real challenge is trying to figure out when to exit. For example, after entry, if price moves slightly against me, should I wait it out a bit, get out immediately before a stronger move against me, look to get out at breakeven, or wait for a surge in my direction. All things are possible, but price action usually gives clues as to what might happen next. Therefore, I would say that the biggest challenge in trading is trying to figure what you should do next once you are already in the trade, which means focussing on exits is most important. I would also like to point out that developing exit strategies in general are more challenging because you're already IN the trade, so keeping emotions in check can be quite challenging in making the logical trading desicions to initiate the correct exit. I seem to kick myself much more for getting out of a good trade early rather than missing a good trade all together.
You may have a good point here. Let's say one times his entries and the exits are fixed at 4 ticks profit and X ticks stop. This type of trading will only be based on timing the entries. It could work as long as the win% covers the X ticks stop.
Some intraday traders time their entries and exit at the end of the day. Here entries are more important than exits. It depends on the trading style.
Yep, in the really small timeframes there is little to no time for managing a trade by price action. An exit strategy that relies on a statistical average optimal exit would be preferable (in my opion).
nothing is more important than anything else... entry and exit are equally important.. A good entry will allow u to gain the advantage of that "NATURAL POP" into a profitable position.. a good entry with the right timing will put u in the money in seconds to a few minutes. Using that pop by moving a stop up to protect... so in this instance if the pop moves against you your protected and ur loss is nil. a good entry will give u space for the trade to work. the exit allow for the point that is most often hit statistically like DR. said.. a good exit will get you out at the highest probable point. a good entrance has another trading point thats rarely discussed and thats TACTIC with is important its not only the best entry point but also the best way to enter at that point