But good entries only come from being patient and waiting for the correct moment to strike. It all sounds so simple, but it is our eagerness to chase that gets us in trouble, the fear of missing a run. This is the exact moment that our emotions override what the price action is telling us. It is only after we've executed the trade and the emotions satisfied do we finally become clear that we've entered the wrong trade. This is the exact moment that we should exit the trade, be disciplined and take the loss. Sure, we get lucky at times. But that will only fuel the incorrect action and turning impatience into a habit.
What are good entries:
- buying on trend and timeframe alignment
- buying during a stock's pull back into actual support levels; pivot, trendline, ma's
- buying when the market and the stock is temporarily oversold
- buying when market, sector, and stock are showing strength.
- scale in whenever we can.
