7 Secret Rules To Pick The Best Entry Trading Forex

Trading is easy but people make it hard. If you want to succeed as a trader over the long-run you need a clear entry method with easy-to-apply set of rules. In this article, I am going to share with you a powerful trading toolkit condensed into seven secret tricks how I pick my entries trading the forex market.

Books That Inspired Me The Most

1. Be patient - wait for the pullback

Draw the most obvious key levels on D1 timeframe.



After a trend wait for the pullback (see the picture below).

2. Wait for a Price Action (PA) signal

I ideally wait for a pinbar reversal, railroad tracks or fakey pin bar combo. In this case, we got a pinbar reversal. If you want to learn more about price action signal then read this article.

 

3. Determine your stop loss level (SL)

There are many methods of stop loss placements. I prefer setting SL above the PA signal high + 5-10pips. (see the chart below)

4. Determine your exit level (TP) 

I want to get out of the trade at the nearest key level so my exit level will be above this key support level.

5. Calculate your pending order limit level (Entry)

The best way to find the entry price is to use the altered Fibonacci tool.
I drag the Fibo start & end points while the Fibo-stop-loss overlap the predefined stop loss level @1.08411 and the Fibo-2x profit overlap the predefined exit level @1.06756. After these steps the Fibo tool will show you the Entry price @1.07859

6. Calculate your position size based on your trading plan

Entry - Stop Loss = 55pips
$ amount of risk = $100 (put here your risk amount in $)
Position size calculation: $100/55pips/10 = 0.18lot

7. Set your pending order (with SL & TP) - Set and forget 

Pending sell limit order has been reached next day.
TP level has been reached after 3 days.
Reward/Risk = ½
PROFIT = $200

Books That Inspired Me The Most

Books that inspired me the most

Today, I wanted to share a few of my favourite books that have recently inspired me and completely transformed the way I think about trading, wealth and prosperity. I couldn’t pick just one of them, because each book has the power to “twist your mind” and shake your current beliefs. 

I truly believe that everybody needs a paradigm shift first, to become a confident and successful trader. This is the most vital step to start create your own mental path to wealth and prosperity. I’ve found something interesting in these books, … the mentioned path cannot be walked through with quick  and giant steps but only with consistent baby steps with proper relaxed mindset. 

Consistency and habits are the result of developing certain behaviors in ones personality. The more you practice these behaviors, the more consistent you become in adopting them and making them a permanent part of your life and trading career.

“We are what we repeatedly do. Excellence then, is not an act, but a habit.” - Aristotel

	Jack D. Schwager: The New Market Wizards In The New Market Wizards, successful traders relate the financial strategies that have rocketed them to success. Asking questions that readers with an interest or involvement in the financial markets would love to pose to the financial superstars, Jack D. Schwager encourages these financial wizards to share their insights. Entertaining, informative, and invaluable, The New Market Wizards is destined to become another Schwager classic. >>  BUY IT NOW! > The New Market Wizards: Conversations with America's Top Traders
	Nicolas Darvas: How I Made 2,000,000 in the Stock Market Darvas invested his money into a couple of stocks that had been hitting their 52-week high. He was utterly surprised that the stocks continued to rise and subsequently sold them to make a large profit. His main source of stock selection was Barron's Magazine. At the age of 39, after accumulating his fortune, Darvas documented his techniques in the book, How I Made 2,000,000 in the Stock Market. The book describes his unique "Box System", which he used to buy and sell stocks. Darvas' book remains a classic stock market text to this day. >>  BUY IT NOW! > How I Made $2,000,000 in the Stock Market: Now Revised & Updated for the 21st Century
	Napoleon Hill: Think And Grow Rich This book has been called the "Granddaddy of All Motivational Literature." It was the first book to boldly ask, "What makes a winner?" The man who asked and listened for the answer, Napoleon Hill, is now counted in the top ranks of the world's winners himself. The most famous of all teachers of success spent "a fortune and the better part of a lifetime of effort" to produce the "Law of Success" philosophy that forms the basis of his books and that is so powerfully summarized in this one. >>  BUY IT NOW! > Think and Grow Rich!: The Original Version, Restored and Revised™
	Napoleon Hill: Outwitting The Devil Using his legendary ability to get to the root of human potential, Napoleon Hill digs deep to reveal how fear, procrastination, anger, and jealousy prevent us from realizing our personal goals. This long-suppressed parable, once considered too controversial to publish, was written by Hill in 1938 following the publication of his classic bestseller, Think and Grow RichAnnotated and edited for a contemporary audience by Rich Dad, Poor Dad, Three Feet from Gold co-author Sharon Lechter, this book is profound, powerful, resonant, and rich with insight. >>  BUY IT NOW! > Outwitting the Devil: The Secret to Freedom and Success   [OUTWITTING THE DEVIL 5D] [Compact Disc]
	Maximum Achievemnt: Brian Tracy The step-by-step blueprint for success and achievement presented in these pages includes proven principles drawn from psychology, religion, philosophy, business, economics, politics, history, and metaphysics. These ideas are combined in a fast-moving, informative series of steps that will lead you to greater success than you ever imagined possible -- they can raise your self-esteem, improve personal performance, and give you complete control over every aspect of your personal and professional life. >>  BUY IT NOW! > Maximum Achievement: Strategies and Skills That Will Unlock Your Hidden Powers to Succeed