In this area on Method, we focus a fair amount on your entry decision.
Your entry decision is an important decision, however in the scheme of things, it is one of the least important.
Did you read that correctly? Yes – your entry decision is one of your least important decisions that you make.
This section has much more material to be added to it … however at this point in time, consider the following.
There is no perfect entry signal – the signal which will pick the direction right every time. It doesn’t exist and never will.
Don’t do what a lot of people do and undertake a determined search to look for the perfect entry signal – you are going to be sorely disappointed.
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Whichever form(s) of analysis you use to consider your entry, it boils down to only assisting you in entering a high probability trade – the trade that has a high probability of being profitable. There are simply no certainties in trading. The best advice with your entry signal is to keep it simple!
This section will, in due course, consider further items such as, but not limited to:
- technical indicators,
- fundamental data,
- sector analysis,
- trade initiation,
- weight of evidence,
- managing information,
- what financial products you will trade,
- your time frame for trading, and
- using a checklist.
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Please check back again soon for updates.