WHAT IS A SECOND ENTRY ?

[SimpleMeLike]

i am a poor fellow trying to make a few extra usd and i will believe in Brooks, God or the Devil if i can do that

I perfectly understand

 

[padutrader]

there is no magic bullet in trading and second entry is no exception

 

[padutrader]

we have to accept that to survive you need to trade at an exceptionally high skill level.

Brooks often say this and says trading is hard.

this is where he is a bit different from others.

he does not promise much

 

[Frederick Foresight]

since prop funds have very tight loss targets and you can be totally out on your backside, the only option i think ,traders have ,with prop funds is to scalp.

here the problem is that ,with scalps, the stop/risk is high you need a win rate of over 90% to survive.

this win rate is not sustainable and so of course prop funds are betting you will lose and it will be surprising if you do not fail sooner or later

https://www.elitetrader.com/et/threads/easiest-money-in-my-life.376609/

 

[SimpleMeLike]

we have to accept that to survive you need to trade at an exceptionally high skill level.

Brooks often say this and says trading is hard.

this is where he is a bit different from others.

he does not promise much

Hello padutrader,

Trading is easy. You told me trading is easy.

 

[SimpleMeLike]

we have to accept that to survive you need to trade at an exceptionally high skill level.

Brooks often say this and says trading is hard.

this is where he is a bit different from others.

he does not promise much

Hello padutrader,

I don't think Brooks is the complete answer for you. Yes his teachings help for sure. But I think there is nothing more to learn from Brooks or from manual discretionary trading.

It's all on you now sir. Just like it's all on me.

Seeking continuous learning in trading is a Horrible mental thing to do. It's just horrible.

Best to try and get rich now. Or could take forever. And we don't have forever.

 

[SimpleMeLike]

there is no magic bullet in trading and second entry is no exception

Hello padutrader,

You are the best technical analysis trader on ET forum I know.

There is a magic bullet in trading. That bullet is you

 

[Darc]

you mean first entry is a test or the second is?

Yes. First entry is the Test of the Overhead Supply before the actual run up being the second entry., I've heard other Gurus describe it as.

 

[padutrader]

Yes. First entry is the Test of the Overhead Supply before the actual run up being the second entry., I've heard other Gurus describe it as.

yes market does test .... and i believe it goes where it is allowed to or the path of least resistance.

so if the market does not know where it is going how can anyone else?

this is why targets are a .... joke?

 

[padutrader]

You are the best technical analysis trader on ET forum I know.

and the worst money maker

i have to leverage the enormous knowledge i have.

and the best way is to go back to basics. buy low, in the range/trend sell high, in the range/trend.

there are various ways to enter but the place of entry is much the same: high or low.

KISS