WHAT IS A SECOND ENTRY ?

[padutrader]

ES spends a lot of time range bound.

Plenty of second entries. Hehe.

you wanted me to swing so i am swinging.
you can see my entry and i have placed a limit order at my target and i am going to make coffee and enjoy it and after that i may go to sleep. This Es is putting me to sleep as is usual at this time
thank you for forcing me to learn to swing all me money was disappearing in scalping around this time in dead market.

 

[padutrader]

Good Evening padutrader,

I do not know sir. I do not know sir.

if you knew you would tell me ,no? you are an old young friend.
i mean you are a old friend who is young in years

 

[padutrader]

my first swing trade of my life .thanks to @laissezfaire. ah bien, bonjour et amusez-vous !
not very brilliant: buying low of trading range and hoping it will go to the high of range
my first swing trade of my life .thanks to @laissezfaire. ah bien, bonjour et amusez-vous !
not very brilliant: buying low of trading range and hoping it will go to the high of range

 

[padutrader]

i have tried to use second entry, but often, second entry became reversal. How can I be sure the second entry is a second entry?

my experience is that if you scalp for a point in Es, it does not matter if it reverses after I scalp out and ironically, that is the main reason i scalp out.

how can you be sure it a second entry is a second entry?

wrong question.

how can you be sure a second entry does not fail? you cant. but it always gives you 3 ticks 65% of time .

now if you want to know what is a good second entry then you have to understand context and for that unfortunately this space may not be enough. I cannot explain context in one line

 

[padutrader]

my first swing trade of my life .thanks to @laissezfaire. ah bien, bonjour et amusez-vous !
not very brilliant: buying low of trading range and hoping it will go to the high of range
my first swing trade of my life .thanks to @laissezfaire. ah bien, bonjour et amusez-vous !
not very brilliant: buying low of trading range and hoping it will go to the high of range
View attachment 327093

i have never earned d 162 usd in my life so i booked profit

 

[padutrader]

Al Brooks says, you should generally wait for a test of the old extreme after a trend line break, before going with the new Trend ie. a double bottom or second entry.

that is if you are trading a reversal.
if you get a trend line break -minor or major -and then you get a signal to enter WITH TREND then that is the first signal. the next with trend signal is the second entry and the next with trend signal is third entry and the next with trend signal is fourth entry.
now Al says if there is 5th entry, then it is not a pull back and something else is going on.

the logic is: if you get a trend line break of say, a bull and then you get a buy signal, then the move that broke the TL of the bull, was a correction, assuming the buy signal did not fail.

now if the buy signal did fail then it is a continuation of the correction. this is confirmed when the next buy signal succeeds.

now if there is NO NEXT signal then it is a reversal.

 

[padutrader]

When do you find time to eat and sleep?

to eat? are you kidding me. all the time. in fact my wife says i am forever eating.

i take power naps.

 

[padutrader]

Anyway, i have tried to use second entry, but often, second entry became reversal. How can I be sure the second entry is a second entry?

i can suggest something that is similar but happens more often double top/bottom. wait for it to trigger meaning the high /low of the bar which forms the DT/DB, should break and that will confirm the DB/DT

 

[ironchef]

my experience is that if you scalp for a point in Es, it does not matter if it reverses after I scalp out and ironically, that is the main reason i scalp out.

how can you be sure it a second entry is a second entry?

wrong question.

how can you be sure a second entry does not fail? you cant. but it always gives you 3 ticks 65% of time .

now if you want to know what is a good second entry then you have to understand context and for that unfortunately this space may not be enough. I cannot explain context in one line

I ask you what is context and you never give me an answer?

 

[SimpleMeLike]

if you knew you would tell me ,no? you are an old young friend.
i mean you are a old friend who is young in years

Good Evening padutrader,

Yes, I know everything about a trading. I am very smart and know it all about trading.

Full Disclaimer : I am currently a Losing Trader so far of about -$7,200 on the fiscal year of 2023. Let's see how the next 2 months go. My comments are not worth a penny with a hole in it because I am losing trader right now.