Entry Point Analysis for intraday trading

Discussion in 'Technical Analysis' started by StillStanding, Jan 22, 2008.

  1. Hi

    I am looking for ideas on long (shorts should always be opposite so no need to mention again) entry points for intraday trading only.

    Would be nice if the points could be determined visually without technicals but am keeping an open mind.

    Ideas that don't work would also be useful so they can be ruled out definitively

    e.g. breakout of an x minute bar, x tick volume bar, new high of day, yesterday's close, last x days high or low, double bottoms, ascending triangle.

    Thanks in advance.
  2. forgot trendlines (slightly technical) and previous intraday isolated highs or lows, narrow range bar, inside bar, outside bar,
    candlesticks(needs more details) .
  3. Hi StillStanding,

    It's absolutely critical that you do the research into these topics because they have been heavily discussed here at EliteTrader.com


    Next, you've mentioned too many different topics.

    Simply, you are setting yourself to be confused, information overload et cetera because each top you've mention is a large subject all by itself.

    Thus, choose one topic only, learn what you can on your own and then start posting chart examples of what you've learn...

    That's when you are ready to ask questions.

    First thing first...what are you trading so that those trading the same instrument can be helpful.

    Secondly, its important you understand that if you don't understand the price action (your trading instrument and key markets that have impact on your trading instrument)...

    Your entry signals are already at a disadvantage.

    Some more useful information...

    Breakouts, double bottoms/tops, ascending triangle et cetera are price patterns.

    They are not signals to open a trade position.

    Therefore, your actual entry signal should be something in combo with a breakout, double bottom/top or whatever.

    I mention this because there's too many traders running around saying breakouts don't work when in fact what they meant to say is that their entry signal after seeing a breakout doesn't work.

    Simply, patterns are clues only that you should be preparing to trade if your entry signal appears.

    Speaking of breakouts, if you are going to trade them...

    Also learn how to fade them.

    Once again, choose one topic and concentrate on that only so that you aren't trying to absord too much information at once because it could set you up for bouncing from method to method without really learning anything.

    Last of all, patterns and entry signals are just part of the puzzle and arguably not the most important pieces of the puzzle.

    * Proper Capitalization

    * Money Management

    * Position Size Management

    * Trade Management after Entry

    * Discipline and Stress Management

    * Other Trader Psychology Concerns

    Many other topics that should be part of every trader's trading plan...

    Stuff you really are on your own about but its important you have them in place prior to your first trade or first drawdown.

    In my opinion, the above topics will have the most impact on your trading results which is arguable by those that spend most of their time on backtesting and tweaking entry signals.