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One of the basic problems facing most day traders is finding a perfect entry to execute a trade. Most day traders jump into a

trade without a well thought out plan only for the market to either retrace sharply and tick against them or only realize very

small profit with an extremely high risk trade. Hopefully, the points below will aid tremendously in judging a good entry.

1) Be patient enough to wait for entries that have two things: First, a high probability of immediate gain, and Secondly, a small

potential for loss if the worst happens and your stop gets hit. This principle applies to all entries and it’s useful to think

about it when you’re trying to decide whether to enter on a pull back or a continuation of a move.

2) Enter on a Pull Back rather than a continuation of a move: Entering on a pull back offers less dollar risk than chasing the

market because you can place your hard stop on the other side of support or resistance and risk only a point or two. Entering on a

pull back also gives you a better chance of gaining a point or so in the first 30 to 60 seconds of the trade.

3) Always have a stop in place for every trade and never hang around till your stop is hit. When the market approaches your stop,

don’t be tempted to move your stop and don’t be stubborn. Get out immediately as soon as it turns the other direction!

4) Whenever you find yourself hoping that the market will come back and get you out of a bad situation, you really have to EXIT

NOW!!!! Don’t even think about the commissions or any thing else JUST GET OUT!!

5) If there’s no pull back and the market just keeps going down or up, you just have to be a pro and let it go. All the lost

opportunity in the world will not take your account balance down but chasing a high-risk, low-probability entry will cost you.

6) Always plan your trade and trade your plan. Never deviate from your strategy. Pre-determine both your risk and profit before

each trade.

I hope the above Day Trading tips help you judge an entry for your trades.

George Kissi

Free Day Trading Course