Trading Price 6: Entries Tactics

Question 1

Base 4 things

Answer 1

Don’t want to see huge wicks NRC can be either green or red can be 1 to several candles

Question 2

5 types of entries

Answer 2

1. Limit Entry 2. Zone Entry 3. Confirmation Entry 4. Scaling into a Supply/Demand zone 5. Set and forget

Question 3

Limit Entry

Answer 3

Buy/Sell LIMIT ORDER placed when price reaches the proximal line, with a SELL/BUY STOP ORDER just below/above distal line

Question 4

3 advantage of limit entry?

Answer 4

probability of meeting entry is the highest - don’t have any competition because you are buying from sellers. will get filled, won’t get slippage can set and forget

Question 5

3 drawbacks of limit entry

Answer 5

Higher RISK than Zone entry Lower Reward than Zone Entry Greatest Unknown, increasing chance of stopping out - but you have to get over fear of getting stopped out and start trusting the zones should take #1 entry to get over fear.

Question 6

zone Entry

Answer 6

- short/buy INSIDE of a SUPPLY/DEMAND ZONE	- use when have WIDE zone	- excellent for level on top of level because they are usually wide zones	use STOP MARKET/MARKET to get into trade

Question 7

2 zone entry rules for SHORT

Answer 7

1. once price comes into SUPPLY zone, track CLOSED LOWS (wick or body) of candles with BLUE LINE BLUE LINE - IS TRIGGER (SELL STOP MARKET ORDER) 2. once price crosses the BLUE LINE, then you are in the market 3. if price goes beyond stop, then you don’t get into market

Question 8

3 #2 Entry rules for LONG

Answer 8

1. once price comes into DEMAND zone, track CLOSED HIGHS (wick or body) of candles with BLUE LINE BLUE LINE - IS TRIGGER 2. once price crosses the BLUE LINE, then you are in the market 3. if price goes beyond stop, then you don’t get into market

Question 9

3 advantage of #2 zone entry

Answer 9

Risk is LOWEST of entry types - more precision based entry - don't have to get into trade if goes past STOP	Reward is GREATEST of Entry types - more profit potential	Probability of meeting entry is higher than Confirmation Entry	

Question 10

3 drawback of zone entry

Answer 10

Lower Probability of meeting entry - Non automated entry - harder for traders to learn

Question 11

3. Confirmation Entry

Answer 11

• wait till price comes into zone - get into trade as it goes out of zone on the proximal line. can use market or stop market to buy into market

Question 12

3 advantage of Confirmation Entry

Answer 12

RISK is same as LIMIT ENTRY	REWARD is same as LIMIT ENTRY	Less chance of stopping out

Question 13

3 drawbacks of comfirmation entry

Answer 13

Have most amount of competition - will get slippage with entry - may not get price you want - may not get all of shares filled LOWEST probability of meeting entry need to babysit

Question 14

Stop limit vs Stop Market

Answer 14

Stop limit, there is no guarantee that you will get out Stop market, there is a guarantee that you will get out

Question 15

3 when to use Scaling in

Answer 15

if have wide zone if have level on top of level if confidence is low, but want to still get in

Question 16

3 strategies examples of Scaling in

Answer 16

If want to buy 1000 shares: 1. buy/short 250 at proximal 2. buy/short 250 at close before BASE 3.buy/short 250 at close of BASE 4.buy/short 250 at proximal line another strategy 3rd @ #1 entry 3rd @ #2 entry 3rd @ #3 entry another strategy 1/2 @ #1 or #2 entry 1/2 @ # 3 entry

Question 17

What is advantage of Scaling in

Answer 17

if stopped out, then only lose half of what you were thinking about buying.

Question 18

2 of when to use set it and forget it

Answer 18

time constraint psychological: struggling with being in trade, and not letting trade run/get out too soon

Question 19

2 steps to set it and forget it

Answer 19

1 entry use BRACKET ORDER to set stops, and targets

Question 20

what is important when using Set and Forget?

Answer 20

Need to use GTC, GOOD TILL CANCELED on ORDER STOP and TARGET have 90 days till expires or you cancel if you enter with a DAY order, then you will be in that trade without stop or target. So need to be in with GTC! Make GTC the default for all trades.

Question 21

Fill in with buy, sell, short, cover next, note if each one is a entry, target, both

Question 22

stop market vs Limit order

Answer 22

Limit order: will open trade at price or better. So even if you don’t want to open yet, if price is better, then will enter trade. Stop Market Order: will not open trade until price is met.