Entries and exits
Trade entry and exit is really important for successful trading. Because my strategy is maximum profit in minimum time, my trade entries and exits are much different from a trader who swing trades and is looking for hundreds of pips profit in several days time. Today I traded the EURUSD pair, at 5am when I turned my computer on, this pair was moving down below the daily pivot point and also the weekly pivot point. So further downside was very likely for the rest of the day. I prefer to enter a trade when I see a break of support and then a pullback to the 15minute 5ema. So I waited about 20minutes and sure enough price pulled back, so I entered the sell trade at 1.5473. With EURUSD I like to use about a 25 pip stop loss, which put my stop for this trade ABOVE the weekly pivot at 1.5492. GOOD!  It took my sell trade about an hour to reach the daily M1 pivot at 1.5419. I watched as price hesitated there for about 5mins, so I decided to take profit there. +54 pips, not bad! Five minutes after I took the profit, price continued down, pretty much for the rest of the day. But I did not get upset over missed pips, I am perfectly happy with 50 pips in one trade in one hour. Consistency is the name of the game. Good trading!Â