Bad entries - daytrading

[Spooz Top 2]

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!

 

[Spooz Top 2]

This past 4 weeks has been fucking terrible with whipsaw, news of war, inflation, hopes of Fed Put, Put hopes dashed, etc etc etc. Couldn't get any better than the last 4 to 6 weeks.

Whipsaws = Vol = great trading opportunities!
Keep it coming ….

 

[Spooz Top 2]

I suppose I fit the definition of a discretionary trader. So if you are asking how I avoid losses the answer is that I don't. I can't tell you my worst loosing streak because I don't keep records. I would guess it would be four or five trades. My rule is three losses means I don't know what the market is doing so I stop trading until I figure it out. Sometimes I resume trading and still have a loss or two. If you are batting less than 50 you need to look at your methodology. I should add that I have no trading plan. I make it up as I go based on what I see. Most of the traders I know do the same thing.

Great user name ….

 

[spooz]

Oops, you were first:if you think mine is too close to yours I'll change it. Let me know.

 

[Laissez Faire]

I find it much better to observe and see where the orders are likely to be, including the stop orders. Then formulate my tactics around that and it's going to be different everyday.

Kind of sounds like a plan.

 

[Laissez Faire]

This past 4 weeks has been fucking terrible with whipsaw, news of war, inflation, hopes of Fed Put, Put hopes dashed, etc etc etc. Couldn't get any better than the last 4 to 6 weeks.

That's interesting.

Most people in this thread seem to hold a different opinion:

How do you like trading this volatility?

 

[Spooz Top 2]

Oops, you were first:if you think mine is too close to yours I'll change it. Let me know.

Nah, all good brother!

 

[QTrader20]

Entry is THE most important variable of the trade & sets the table…

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.

 

[bone]

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.

For the futures daytraders in here - would you mind sharing some of your days where you had the most (in numbers) bad entries in the last 2 years? I don't need to know the entries or details / pnl, just the date + instrument

Context: I want to do some advanced sim trading, the more difficult, the better. I am a swing trader, stepping up to daytrading slowly.

 

[nooby_mcnoob]

A bad entry happens to everyone at some point.

Listen to this dufus analyze... it is clear he had no clue what he was doing..., what he called "support", broke. He did nothing about his trade.

... vid is 53secs


I day trade futures. "Bad entries" for me are about bad analysis. I'm human so it happens everyday. How many in a day is not important. It is about taking corrective action immediately. Yelling out "oh shit" is a clear indication the trade is (as opposed to might be) bad. Shouting "fuck", you are too late. btw, by default a "bad entry" doesn't mean a losing trade.

classic.

this guy had so much time to get out before he lost money.