Hi,
I'm fairly new to forex trading and have only just started trading live.
I'm using a couple of trending market systems that have come from this forum and I'm very happy with it. The problem I have now is how to spot that the market is finishing trending and moving into consolidation.
This is probably going to be a vague question but does anyone know how to spot this change in the market so I don't enter a trade using a trending strategy and obviously end up loosing money.
Also, does anybody know an effective way of trading this period of consolidation even if you're only aiming for a couple of pips at a time?
Thank you in advance.
Jonny
I'm fairly new to forex trading and have only just started trading live.
I'm using a couple of trending market systems that have come from this forum and I'm very happy with it. The problem I have now is how to spot that the market is finishing trending and moving into consolidation.
This is probably going to be a vague question but does anyone know how to spot this change in the market so I don't enter a trade using a trending strategy and obviously end up loosing money.
Also, does anybody know an effective way of trading this period of consolidation even if you're only aiming for a couple of pips at a time?
Thank you in advance.
Jonny