The successful trader knows that Entry Triggers are only one component of success. In order to possess a comprehensive understanding of success in trading, any discussion on the Entry Trigger topic must also address the attitude and context of the underlying market condition.
A trade trigger may be a precise event that tells you to urge into or out of a trade, right now. It helps avoid getting into or out too early, too late, skipping trades, or taking trades you shouldn’t.
You need a trade trigger in real-time to let you know right now is the time to act. It is a particular event that triggers your action. Until that point , you’ve got done your analysis but there’s no action yet. It also should be visible on historical charts, so that you can backtest and verify if the trade trigger (and your strategy) works.
Without a trade trigger you may delay entry, take trades too early, skip trades, or take trades that aren’t part of a strategy. A trade trigger is your call to action, and tells you to take a seat on your hands if there’s no trade trigger.
A strategy without trade triggers is predicated on whim. You buy and sell once you desire it, but those actions aren’t necessarily supported a proven winning method. A strategy, with trade triggers, are often tested for profitability, it are often replicated, and it are often tweaked to enhance performance. Trades based on whim can’t do those things.