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Increase returns on the system that you’re currently using for trading. Use our Real-Time Risk Management/Order Entry Add-on to increase order entry time & efficiency while reducing calculation errors & slippage.
Getting in Cheaper
Unfilled trades & missed entry guide
One of the biggest mistakes young traders make is to miss a trade entry and then watch the trade start to win and then beat themselves up psychologically. Some traders call this leaving money on the table. This is devastating, really devastating! You may have lost a couple and this missed winner would have put you at an equity level above your losses. How could this happen? How could I have missed that trade? The whole should have, would have, could have discourse goes on and on. This is absolutely natural, but completely wrong.
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At the point of a missed entry, the only thing you should be concentrated on is where you can get in cheaper. Look at the chart examples below. This happens time and time again in the markets. It's all about psychology!
After looking at the graphics you can see that by staying psychologically intact, you open yourself up to the opportunities that the market presents after you missed the trade entry. With the mentality that you need to stay focused on finding an entry point that will get you into the the trade cheaper, you may often find entry points that will allow you to make more money than if you entered at the original point of entry. So, stay cool and wait. I am not saying that you will be able to enter ever trade that you miss, this is impossible, but you will have an overwhelming feel of personal satisfaction when you get in cheaper at a later point in time.
Another big mistake that traders (especially system traders) will make is to take trades that have a terrible R/R ratios out of fear to miss a possible winning trade. Again perfectly natural, but wrong. If your system gives you a signal on a bar that has a large range, then wait and see, because a large range means a large stop. If the trade is winning then has a little dip or even a small range bar, try and get in at this point. Look at the graphics below to see this visually on a chart.
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