Wednesday, February 13, 2008

Need to Improve Entries

I need to improve my entries.

What does that mean and how do I do it? It means I have to enter at a level that makes sense from more than one viewpoint. This is what is called "confluence."

I will look to buy on anchor trendline touches that are also entry chart trendline touches and one other aspect as well, such as ME line support or double bottom.

On the sell side, also look for anchor trendline AND entry chart trendline touches, along with a confirming aspect such as ME or double top.

Also need to avoid moving stops too close. I need to give it 2 full points to run so I don't automatically get stopped out by the noise.

No comments: