- Which is more important? Entry or Exit of a position?
- MT4 30 pips system
- Which strategy is best to close the position?
It all depends on ones' experience.
In my experience:
1. entry and exit has the same nature. If one is important the other is important too.
For me entry is whenever there is momentum and exit is whenever there is no momentum.
Therefore fixed SL and TP is nonsense to me.
2. Detecting trend direction is the million dollar question!
3. I do not believe in stop trailing as everyone knows it. I trail my stop using momentum.
It all depends on ones' experience.
In my experience:
1. entry and exit has the same nature. If one is important the other is important too.
For me entry is whenever there is momentum and exit is whenever there is no momentum.
Therefore fixed SL and TP is nonsense to me.
2. Detecting trend direction is the million dollar question!
3. I do not believe in stop trailing as everyone knows it. I trail my stop using momentum.
1. Exit
2. Pullback entry which is a trend follower
3. by analyzing elliot waves in H4 or above timeframe
4. Trailing stop but it depends on nature of market, e.g. in crypto you cant use trailing stop otherwise you will be hunted immediately. while some other charts follow proper wave structure so its subject of scrip selection
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