When Should You "Pull the Trigger" on a Trade?
New tips from a 25-year Elliott wave trader and forecaster
by Jeffrey Kennedy
Updated: May 29, 2018
At some point, you must "pull the trigger" on a trade. The pressure! You don't want to miss the opportunity... yet you don't want to be wrong, either.
We get it. In this video lesson from Trader's Classroom editor Jeffrey Kennedy, he shows you various entry techniques that help relieve some of the pressure.
Market in focus: real-time price chart of XRT, Spdr S&P Retail ETF.
Jeff: My name is Jeffrey Kennedy, and welcome to Trader's Classroom. Today we're going to be discussing entry techniques. And the reason why is because the idea of entering a trade actually brings with it a lot of pressure. And you know exactly what I'm talking about because sometimes you feel like you're a deer in headlights. At some point you're like, "I don't wanna be wrong on this position "so I'm not really sure when "to get into a position." But if you wait too long, there's also the pressure that you're going to miss an opportunity. Well, if you're going to trade, you're going to lose money. Period. End of story. It's an inevitability, okay. So by that being the case, we can actually prepare for being wrong by managing risk. Conversely, if you're afraid of missing an opportunity, don't be. Every day there's an opportunity. Every week there's an opportunity. Every month there's an opportunity. So if you miss today's opportunity, don't worry about it. There's gonna be another opportunity tomorrow, and certainly next week, and certainly next month. So I hope by understanding these two very core principles of trading, that you can actually start being nice to yourself and take the pressure off. So what we're gonna be doing today is actually looking at a few of the issues that we discussed yesterday, and when would've been some appropriate entry techniques or triggers. So let's begin
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