This is one of the most common frustrations for traders on all markets and all timeframes. (The only methodologies immune to this are mean-reverting strategies, which bring their own set of different issues.) The short answer is that this is usually the last piece for traders to figure out. Once you’ve learned to read the market and find good trade candidates, the challenge is then figuring out exactly how you, personally, plan to operationalize entries. We have numerous resources on the topic. You can check out [links] and see discussions [link].

The slightly longer answer is that there are two considerations: What, exactly, gets you into a trade? Is it a price trigger? A price trigger plus a time or further movement trigger? Will you only execute at certain times of the day? Second, what will you do with entries that do not work out immediately? Whether you exit more-or-less immediately or hold them is a key aspect of your personalized trading style. A few things we can say for certain: there’s no one answer, and it truly must be adapted to your personality and approach. There are many solutions, but probably only a few that will work for you. And consistency is key—you figure it out new for each trade. This must be a part of your trading plan so that you can execute with consistency.

We do not have a preference for any specific broker. Answers will depend on asset classes you trade and whether you are a US investor or not.

Most of our charts are generated with Tradestation, though we use a number of other packages and some proprietary software, as well.

It must be said that indicators are the least important aspect of a chart. But our standard indicators are:

• Keltner channels set +/- 2.5 ATR around a 20 period EMA
• MACD (simple, not exponential averages used internally, no histogram, and 3/10/16 for settings).
• Some charts may include our MAC Spikes and other indicators as we use them to illustrate points
• Longer-term charts often include a spread line showing the performance relative to the S&P 500 cash index. (This is only meaningful for stocks.)

R is shorthand for “the initial risk in the trade”. Visually, on a chart, this is the distance between the entry point and the initial stop. For practical trading, sizing will determine the dollar amount of that movement in a trading account. Using R allows us to think in standardized units, which relate to the movement and volatility of each instrument.

We do not publish a track record because we do not publish a signal service. We offer a number of tools for finding markets which have setups with a statistical edge, and that edge has proven robust over decades of trading.