No good entry but you just want to trade

[Oshosondy]

Many traders have different indicators they use before they open position or trade. A good example of it is overbought and oversold market which BB, RSI and few other indicators are used for. Another one is the trend direction which MA and EMA and few other indicators are used for. Another one is the Fibonacci retracement which is used by traders to know the support and resistance of a coin to know if they should use it to enter a position. Another one is the price action which is the increasing trading volume of a coin that can indicate buy.

Some traders know about this, but because they haven not made money in a day, they will go against the indicators and open the position at any without a clear analysis that signals entry. Most of the time that I do this when I was a day trader, I usually lose money. What about you?

Not all days there will be signals to enter market but day traders can be very greedy with impatience. Also the signal may not come early but later come in the afternoon or evening.

[Hatchy]

 I don't like relying on Indicators for my trades as most times they tend to give false signals about price which most people tend to risk on and lose money. Also they make my chart a bit too messed up. I've seen people who used them and from what I can say it's not as interesting as it looks. Regardless of that, having patience in the market weather you trade using indicators or not is very vital. When there's no good setup that matches your trade criteria, it's best to stay away and keep your capital which is the most valuable part of your tradings journey. Take for example last week I only got a single entry in the early wake of the week. After that I barley saw any other entry so I called it a week. You don't force the market, you wait for it to present you opportunities to make profits.

[knowngunman]

Some traders know about this, but because they haven not made money in a day, they will go against the indicators and open the position at any without a clear analysis that signals entry. Most of the time that I do this when I was a day trader, I usually lose money. What about you?

More reasons why trading should not be your major source of income. If you have other sources of income and you treat trading as a side hustle, you won't have to worry about not making money in a day. Hence, you'll never be triggered to make blind trade against your indicators all in the name of you want to make money.

If trading is your side hustle and not main source, you don't even have to trade everyday but when there is a strong signal to trade. I have had experience in the past, you smile some days and you cry most of the days. Even with your indicators showing a positive signal, there's no guarantee of profit as market may flip opposite some time. Now imagine using sentiment to enter a trade when there's no signal available to support your decision.

[joeperry]

Well that's trading, patience is the key. That's why you should have a strategy and if it's a working strategy then you should really wait for the right timing and by you telling that you just lose every time you did that is a clear indication that you are just gambling your money. If you really just wanted to trade without a good entry, you can but of course there's no guarantee that you will successfully predict the market right and it's just basically gambling.

I understand what you feel since there are times before where I really get impatient, even though I have a working strategy it only shows once or twice within the week and I get used to a fast paced trading which is day trading in a 1-5 minute candle and even though there are times that I am winning, the total loss is still higher than my profit.

[crwth]

This makes me think that it's like gambling because there's an urge to trade lol. There should be a strict strategy for traders because there might be impulse decisions that you can regret in the long run.

Every trader should have a trading plan, and that includes inactivity and what you will do if you are not currently in a position or trading. You should know when not to trade so you can adjust to the right market conditions and don't suddenly go and trade without the right justification.

Sooner or later, you would realize that there is overtrading and you might lose money because of it.

[LogitechMouse]

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Some traders know about this, but because they haven not made money in a day, they will go against the indicators and open the position at any without a clear analysis that signals entry. Most of the time that I do this when I was a day trader, I usually lose money. What about you?

Not all days there will be signals to enter market but day traders can be very greedy with impatience. Also the signal may not come early but later come in the afternoon or evening.

Same thing with me.

I'm still not profitable yet in trading just like what many are right now, but I'm not the type of trader right now where I don't have a clear set of rules that I'm following. At least now, even though I still don't find any strategy that works for me, I can still control myself, and always, always follow the strategy that I want to use or in this case, experiment, and follow the rules that I set for myself. If I see that the price of a coin is below EMA, I'll focus on shorts. If I see that the RSI is above 50, I focus on long. If I see that the market is nearing it's support or resistance, I wait for a confirmation before entering a position, and so on, and so forth.

There will always be days where you will not enter a position, and that's fine. Unfortunately, majority of the traders can't take that reality, and they always want to trade even though there's no clear signal or confirmation to enter and in the end, they'll lose most of the time. Let's not forget that trading doesn't reward traders that are trading more, but the market rewards those who see an A+ setup, and take advantage to it.

[Rruchi man]

Some traders know about this, but because they haven not made money in a day, they will go against the indicators and open the position at any without a clear analysis that signals entry.

Traders who trade in this manner, who try to force the hand of the markets to go in their direction and see positions where there are no positions, are traders who are greedy, who have not learned to control their emotions, and who are not disciplined because it is only a lack of discipline that will make you go against your trading principles and then ignore all the things you need to see before entering a trade.

Day traders don't need to trade every day; as a trader, you need to wait for A+ setups when you want to trade. By an A+ setup, it means a trading setup that has met all your rules for a good position to trade. Traders need to be patient for it.

[BitMaxz]

That is my past experience, which is why I do not trade on a daily basis. You end up forcing yourself to enter without any patterns or signs that you need to enter. I changed my entire behavior and added some conditions with strict rules to avoid those trades.

I think you still haven't found your list of conditions of your entry based on your strategy. You should have a condition before you enter if you are relying much on price action, then follow the conditions, like only go long if the 4-hour or daily is in an uptrend, in a 1-hour time frame if RSI crosses 50, and if the price is rejected between EMA 50/200 in a 1-hour time frame and vice versa for short.

If you do not have entry conditions, you will be forced to enter at random and lose. You should strictly follow the conditions if your entry is solely based on oversold and overbought signals. I recommend that you do not trade on those signals; instead, wait for divergence and a confirmed reversal.
I understand how frustrating it is to be a profitable trader, but you should have strict rules and conditions to filter all those false signals and wrong entries. If you are impatient, you are making mistakes that need to be corrected.

[EL MOHA]

Not all days there will be signals to enter market but day traders can be very greedy with impatience. Also the signal may not come early but later come in the afternoon or evening.

This is one of the reasons why i usually likened some daily traders and also traders that actually have specific profit target as gamblers because there is no way they would always be able to make profit all the time and this now bows down to them trading even without good entries been spotted simply because they wish to meet their target. Some successful traders can also go days without trading due to not having good entries.

This is where emotions usually kick in, as a trader one needs to know when not to trade, over trading is actually one way to actually lead a trader to gambler and this the sad reality of most traders today, the ability to actually over come this emotion is the path to trading success

[Makus]

Trading is Something that should be taken seriously but for some reason reasons they want. A lot of traders have lost valuable amount of money because they don't analyze their trade or have a good entry before they execute. There are lot of beginners that have Also given up on trading and wish they could find something else to do. It is important to have a good entry when gambling and not just gambling because they are bored or just doing it out of greed. Every decision made when trading should be calculated and well analyzed

[rat03gopoh]

Some traders know about this, but because they haven not made money in a day, they will go against the indicators and open the position at any without a clear analysis that signals entry. Most of the time that I do this when I was a day trader, I usually lose money. What about you?

I don't understand your perspective on "day trading." Do you have to enter positions every day, or is it related to the duration of your positions, meaning you shouldn't leave them open overnight? I think it's the latter, if there's no setup that provides high confidence, you should be absent from trading that day.

[LastKiss]

I don't understand your perspective on "day trading." Do you have to enter positions every day, or is it related to the duration of your positions, meaning you shouldn't leave them open overnight? I think it's the latter, if there's no setup that provides high confidence, you should be absent from trading that day.

From what I know, day traders use low time frame such like 15 minute and they trade every day, closing positions once they reach their targets or their stop loss. They rely on low time frames along with indicators like MA, MACD, RSI, etc. and usually avoid holding long term position since they're doing quick scalping. It’s no wonder many day traders get rekt because they feel pressured to make a profit every day. That kind of addiction can be just as dangerous as gambling.

Some traders know about this, but because they haven not made money in a day, they will go against the indicators and open the position at any without a clear analysis that signals entry. Most of the time that I do this when I was a day trader, I usually lose money. What about you?

I won’t force myself to enter a trade when there’s no good setup. If the urge to trade appears when there isn’t a proper setup, it’s better to step away rather than losing my money and become addicted. Forcing a trade without a solid setup isn’t much different from gambling, in the end, only patience and discipline can keep us from being greedy and chasing profits every day.

[Charles-Tim]

I won’t force myself to enter a trade when there’s no good setup. If the urge to trade appears when there isn’t a proper setup, it’s better to step away rather than losing my money and become addicted. Forcing a trade without a solid setup isn’t much different from gambling, in the end, only patience and discipline can keep us from being greedy and chasing profits every day.

Some people can nmbe greedy up to that extent and it is a sign of addiction to trading. If the market is not showing a good entry price, the best is to just not trade. There are times this might last for hours or more than hours but up to a day or sometimes slightly more. Some people do not know they are Ben addicted to trading which can be the other reason. They will just fell like trading all the time in a way that the trading might even be affecting them in a bad way.

[purple_sparkles]

It seems to me that it’s important not to spread your attention across too many assets, because it can take up all your mental capacity and you might fail to react in time due to overall overload. Of course, having only 2–3 assets might make trading feel less active or exciting, but it allows you to be more effective with the ones you’ve studied well. On the other hand, if you have 10 or more assets, you can easily get lost in your own analysis.If you want, you can always add more assets to your trading when managing the existing ones has become more automated and you have the capacity to take on new ones.

[michellee]

If no good signal of my analysis, I will not enter the market instead watching the market moves. Maybe I can get more data for  my analysis so I know my time to enter the market. But mostly I just leave the market for hour or more and doing interesting activity.

Being a day trader may not be easy. You must finds the time to enter the market and if you miss something, that could be a mistake and cause you losing money. The signal to enter the market could coming at random so it is better you analyze first before deciding.

[Perfectbaby]

Not all time that the market would show a clear setup for entrying a trade and some times we could be that too desperate not to wait for a good position to enter the market, but due to impatient and how we feels like making profits so quickly we would then enter market to lose trade. It is important to patiently wait for the right setup before entering trade than entering trade and results to loses which would be very bad. Therefore, as a trader it's good to always exercised patients to wait for the right setups before entering trade.

[I_Anime]

Many traders have different indicators they use before they open position or trade. A good example of it is overbought and oversold market which BB, RSI and few other indicators are used for. Another one is the trend direction which MA and EMA and few other indicators are used for. Another one is the Fibonacci retracement which is used by traders to know the support and resistance of a coin to know if they should use it to enter a position. Another one is the price action which is the increasing trading volume of a coin that can indicate buy.

Some traders know about this, but because they haven not made money in a day, they will go against the indicators and open the position at any without a clear analysis that signals entry. Most of the time that I do this when I was a day trader, I usually lose money. What about you?

Not all days there will be signals to enter market but day traders can be very greedy with impatience. Also the signal may not come early but later come in the afternoon or evening.

That's one mistake most traders do make , thats why is good to have a fixed strategy that will always help you with entry . Like a strategy with a win rate of 80% and stick with it , so that you will able to filter High probability trade from low probability trades , but due to greed alot of traders always want to over trade even when the trade does not meet with their criteria of entry , and whenever you go against your strategy,  the chances of making losses is high.

[Finebone]

Some traders know about this, but because they haven not made money in a day, they will go against the indicators and open the position at any without a clear analysis that signals entry. Most of the time that I do this when I was a day trader, I usually lose money. What about you?

Trader that does things like this can never be a profitable trader, because the reality attached to trading is that you must be patient enough to take only the right trading set up, but if you are impatient and you just want to trade, just because you have not made any money during the day, just know that your losses will be inevitable.

Not all days there will be signals to enter market but day traders can be very greedy with impatience. Also the signal may not come early but later come in the afternoon or evening.

It's not just about day traders, this also happens to all impatient traders that feels like, that time they are not trading or they are not in the market, that's when they might be making a lot of money, so I don't think that it's only day traders that goes through such a thing, because I have been there before when I was new to trading.

[justdimin]

Not all time that the market would show a clear setup for entrying a trade and some times we could be that too desperate not to wait for a good position to enter the market, but due to impatient and how we feels like making profits so quickly we would then enter market to lose trade. It is important to patiently wait for the right setup before entering trade than entering trade and results to loses which would be very bad. Therefore, as a trader it's good to always exercised patients to wait for the right setups before entering trade.

Most of the times, there are no clear signs of entry but we make up our mind thinking we don't want to miss on the opportunity and that time, our brain looks for any random signal to start buying. The entry price would be completely off-track but we could still try to convince our mind that we might anyhow land up in profits. How often do we make profits using such random bets?

The answer is once in a blue moon. We need a better understanding of the current levels before we can even think about entering the markets. Without having a realistic entry level, booking profits is almost impossible.

Patience is the key as being said since decades. Patience is not only required at the time of closing the order but even finding the right entry price needs a lot of patience. Usually markets will test our instincts if in case we lose patience.

[savetheFORUM]

Not just you and me but I am sure almost everyone will lose money if they trade without clear analysis. Some people do not prefer using indicators or signals. I am one of those people. I would analyze chart completely on my own and would trade mostly on patterns and confirmation candles. I have made healthy profits using the same method. I did try using indicators in the past but things do not work out well for me if I use indicators as it hinders my original decision. I usually get carried away if I get any mixed signals from the indicators and that is the primary reason why I avoid using indicators.

Sometimes, you might be able to make profits using these indicators but I would recommend you to not inculpate the habit of using indicators every time you trade. You can be much more experienced if you stop using these indicators.