Entry points

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Gauss
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Could I ask a question on entry points please?,

If you’re confident that you’ve identified what you think is a cast iron entry point and you place an order but can’t get filled, how many ticks do you chase it up (or down) before you give up on it?
spreadbetting
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Surely if you have a cast iron entry point you'd have an idea of how far that move will travel, so then it simply comes down to what price you no longer consider to be a decent entry price. No point in missing out on a move just because it's no longer cast iron but also you'd never chase a price beyond what you consider a value entry, not every entry has to be cast iron.
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ruthlessimon
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This is what kinda confused me about one of Peter's videos.

He offered a lay at 4.2, missed his fill, then offers 4.6

Why not just lay 4.3 @ market, if you're happy to offer @ 4.6? What am I missin' here?? :)
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Derek27
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Gauss wrote:
Tue Oct 16, 2018 6:33 pm
Could I ask a question on entry points please?,

If you’re confident that you’ve identified what you think is a cast iron entry point and you place an order but can’t get filled, how many ticks do you chase it up (or down) before you give up on it?
There's no such thing as a 'cast iron' entry point - I prefer to take the view that it's a high-probability successful trade. Each tick that you give away reduces the probability of it being successful, but there's no set number of ticks, it depends on the market and numerous other factors.
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Derek27
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ruthlessimon wrote:
Tue Oct 16, 2018 7:11 pm
This is what kinda confused me about one of Peter's videos.

He offered a lay at 4.2, missed his fill, then offers 4.6

Why not just lay 4.3 @ market, if you're happy to offer @ 4.6? What am I missin' here?? :)
There are two possibilities I can think of. He may have been happy with 4.6 but felt he can get a better price and went for it. Or maybe he wasn't happy with 4.6 at the time the 4.2 order was placed. The market's constantly changing so you're constantly reviewing your entry points.
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ruthlessimon
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I think this could offer a clue perhaps

https://www.lme.com/Trading/Access-the- ... tabIndex=0

Therefore one has to weigh up the loss of profit from a missed entry vs. rebates (assuming BF have a similar program)

It's a phantom edge :D
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