045 – Entry Techniques with Andrea Unger

Andrea Unger is the only trader to ever win the World Cup Championship of Futures Trading ®* titles 3 years in a row, with returns of 672% in 2008 (futures division), 115% in 2009 (futures division) and 240% in 2010 (futures & forex division).

This is his 2nd appearance on the podcast, he was also a guest on Episode 16.

In this episode Andrea discusses his approach to trade entries, how the traditional approach to entries can limit our ability to read the market and how he’s modified the standard approach to identify entry opportunities.

The traditional approach to entries really limits our ability to read the markets – Andrea Unger

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Topics discussed

The typical approach to entries and how Andrea uses a modified approach to identify and test his entries
Why starting an entry with a setup can limit your ability to read the markets
The grouping of setups and how the style of trigger you use can determine the most appropriate setup
The best timeframes for indicators and the impact lower timeframes can have on indicators
Combining intraday and daily timeframes for better entries
How Daily Factor can be used to determine the type of move to expect next
Symmetrical patterns – when it makes sense to use symmetry and when it doesn’t

Resources mentioned in this episode

To learn more about Andrea and his work, checkout his website Oneyeartarget.com, his Facebook page or follow him on Twitter
He can also be contacted on [email protected]
If you’d like to be added to the wait list for the Trading Masterclass in New York April 2016, send an email to [email protected]

Quotes

If you understand the normality of the market you can understand what to do in that market

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I analyse the chart pattern to really understand what the market is telling me

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For any kind of entry, there are different family of patterns that lead to the best results

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Top tips

Andrea provided a number of tips in this episode, here is my favorite:

The traditional approach of looking for a setup and then a trigger can limit the possibilities to read the markets and so Andreas approach of defining a trigger first, whether it be a breakout or limit entry or something else, and then using that as a base to study the surrounding setups, can give us a broader variety of possibilities to understand how markets move or could react.

Transcript

*Trading futures and forex involves significant risk of loss and is not suitable for everyone. Past performance is not necessarily indicative of future results. The World Cup Championship of Futures Trading and the World Cup Championship of Forex Trading are registered marks of Robbins Trading Company’s affiliate Robbins Financial Group. Accounts trading in the World Cup Trading Championships (WCC) do not necessarily represent all the WCC accounts controlled by the competitor and may produce results different than the results achieved in other WCC accounts of the competitor.