Entering A Trade Too Early
This is a trader question from the Fibonacci Trading Forum.
What is not working for me now?
- I have been trying to stick to higher time frames, but I find myself slipping into lower time frames. Maybe because I want to catch the move as early as possible, hence, trying to trigger on a lower time frame. All becomes messy and confusing.
There are some occasions that warrant more aggressive entries, and they can be part of your trading plan. The mistake occurs when you defy your plan, taking the temptation to enter early.
Early entries can bring more profits when you are fortunate, but more often they will cause losses due to false triggers and failed breakouts.
Have a clearly defined entry trigger, wait for your system to give you permission to enter. Is sounds easy, but we have to work at it.
We’ll discuss this in a future Fibonacci Trading Forum webinar.
Filed under: 2. Determine Entry & Exit Triggers
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