Assuming you have prepared comprehensively, executing trades at C1, C4, or C5 (10 AM, 1 PM, or 2 PM) should be straightforward. Following a well-structured plan in trading eliminates subjectivity, making your approach more objective and bringing you closer to success.
Here’s how it works according to our Trading System:
Trade Entry
Timing: Trade entry should be based on the close price of the 1H candlestick that completes at 10 AM (C1), 1 PM (C4), or 2 PM (C5). Never initiate a trade before the 2H candlestick completes, as this often leads to poor decisions.
Type of Order: Place a limit order at the trade entry price (close of C1, C4, or C5). Cancel the order if it does not get filled before the next 1H candle completes (e.g., if entered at 10 AM, wait until 11 AM). Avoid chasing the trade if the price moves away too far from your entry point.
Patience: If the order is not filled and the price runs away, do not get carried away by momentum. Entering at an unfavourable price skews the risk-reward ratio. Wait for the price to retreat to your entry point. If it doesn’t, there will be other opportunities.
Execution Timing : Place your order within the first 5 minutes after 10 AM, 1 PM, or 2 PM. This should be easy as you have already prepared a plan based on your analysis. Execution is simply about following through on your plan.
Please click on "Next Post" to proceed to Trade Management.
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