Sideways or choppy

Have a question about trading? Any questions are welcome. Go ahead!

Sideways or choppy

Postby MarkD » Fri Jul 02, 2010 7:56 pm

I am having a reasonable degree of success using a scalping system. Early days yet, but if it works longer term, I'll share on here.
For the most part it works, but when the market starts going sideways or chopping up and down it hits my profits.

I trade on 1 minute intervals over the major pairs, and once it becomes clear the market is going sideways or is just flitting up and down
I step back from the PC for next 30 minutes and review the situation on my return.

My question is : There are so many strategies for predicting if a market is going to go up or down, is there a strategy for predicting an undecided market?
Years back I used to trade Commodity futures and "Open Interest" was a good indication of the strength of a market, but I can't see anything of that ilk on currencies.

BTW
Fantastic website, I really value it.
MarkD
 
Posts: 14
Joined: Thu May 20, 2010 12:53 pm

Re: Sideways or choppy

Postby manus168 » Thu Dec 02, 2010 6:05 am

MarkD wrote:I am having a reasonable degree of success using a scalping system. Early days yet, but if it works longer term, I'll share on here.
For the most part it works, but when the market starts going sideways or chopping up and down it hits my profits.

I trade on 1 minute intervals over the major pairs, and once it becomes clear the market is going sideways or is just flitting up and down
I step back from the PC for next 30 minutes and review the situation on my return.

My question is : There are so many strategies for predicting if a market is going to go up or down, is there a strategy for predicting an undecided market?
Years back I used to trade Commodity futures and "Open Interest" was a good indication of the strength of a market, but I can't see anything of that ilk on currencies.

BTW
Fantastic website, I really value it.


Maybe you can use Bollinger Bands ?
Yesterday = HISTORY !
Tomorrow = MYSTERY!
Today = GIFT !


Thats why we call it the PRESENT :)
User avatar
manus168
 
Posts: 160
Joined: Tue Sep 22, 2009 4:48 am
Location: SECRET


Return to Newbie questions & answers