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Welcome to the world of questions.
I say no its not. The entry is the most important, from there you have to manage it.
For me, Entrys are clear scenarios, there are just one entry situation on different strategies.
But the Exit strategy is different, becuz there are always ways how you have could do better with another exitstrategy.
You just have to decide for one exit strategy and do this, you have to find whats best for you.
But entrys are more important, once you are in a trade right,
you make money and can take the profit when you want.
When discussing entry and exit points a trader cant fight over the ticks or even the points but needs to catch and hold the ride for the full run. Focusing on your exact entry is going to mess up your whole process. If a trader wants to buy 1830.00 and its @ 1831.00 start buying.....
sorry i do not agree with you.
The entry point is not an exact price, it is a price level, where you have the correct risk/win probability to take the trade in the first line.
If you go in a trade with a bad risk/win probability, you are a sucker and a very bad trader. If price goes a little bit against you, you will be in loss, that sucks.
The right ENTRY Timepoint & Price Level Point is everyting (i know what i am talking about. it all depends on the timeframes you trade.)
doesnt matter if you are a daytrader or a swing trader or investor.
The Entry point is ONLY then, right then, when price STARTS moving in trade direction, NOT BEFORE or AFTER that.
THIS ist the ONLY one ENTRY Situation.
EXITS, are different, and can be managed in several ways, just so how the trader think its the best for him.
But of course there are also clear EXIT Situations, for example if you have an Entry Setups against you on the time frame you trade, than you should exit immediately and go in the other way.
But between that, exits are a definition of the traders style, depending on the answers for the questions: "When does it feel good to save profits or take profits? How does it feel for me, depending to my overall risk managment strategie and the risk/win ratio probability of the trade setups???
FAZIT
entrys are clear, written points in the market.
Exits are a definition of the traders strategy.
Have a NICE WEEKEND.
Oh i forgot something,
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The Entry point is ONLY then, right then, when price STARTS moving in trade direction, NOT BEFORE or AFTER that.
THIS ist the ONLY one ENTRY Situation.
"
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And when price have started moving, but didnt go too far away, and you still can say, "hey you price you, if you would come back now to my entry level price, i would still buy you, because i know the trend is up (for long situation) !!!
If then price comes back, what it does sometimes, entry is also ok.
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But especially in daytrading, to enter such an situation with an Entry Limit Order could be very stupid, for me it is very stupid.
Because, when price have gone up a little bit, and everything of your analysis tells you, "yes its an upmove, it will continue" and price come back strong and maybe fall more and more and everything in your analysis is changing.
So also when price comes back for another cycle in the overall started up move, you have to wait for your energies and little cycles that tells you, "yes, know we have support, now its right to enter".
Thats why i never use Limit Orders for Entry, never.
Because i only go in when its the right time, right then when price will move, and enter the war with an market order to fight my way to peace. If its not working immediately (depending on timeframe relation) i am out of that position, as quick as i can.
Have a nice weekend.
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"
The Entry point is ONLY then, right then, when price STARTS moving in trade direction, NOT BEFORE or AFTER that.
THIS ist the ONLY one ENTRY Situation.
"
------------
And when price have started moving, but didnt go too far away, and you still can say, "hey you price you, if you would come back now to my entry level price, i would still buy you, because i know the trend is up (for long situation)
!!!If then price comes back, what it does sometimes, entry is also ok.
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But especially in daytrading, to enter such an situation with an Entry Limit Order could be very stupid, for me it is very stupid.
Because, when price have gone up a little bit, and everything of your analysis tells you, "yes its an upmove, it will continue" and price come back strong and maybe fall more and more and everything in your analysis is changing.
So also when price comes back for another cycle in the overall started up move, you have to wait for your energies and little cycles that tells you, "yes, know we have support, now its right to enter".
Thats why i never use Limit Orders for Entry, never.
Because i only go in when its the right time, right then when price will move, and enter the war with an market order to fight my way to peace. If its not working immediately (depending on timeframe relation) i am out of that position, as quick as i can.
Have a nice weekend.