I would like to know if anyone has a strategy that works well in a Trending and a ranging market? I trade a simple trending daily strategy that allows me to enter at midnight and hold the position all day until next midnight. Some months this proves to be verrrrry profitable however when the market ranges too long my gains are slowly eaten up and I risk ending the year in a loss. Anyone able to help?
- Joined May 2008 | Status: Member | 1,158 Posts
I would like to know if anyone has a strategy that works well in a Trending and a ranging market? I trade a simple trending daily strategy that allows me to enter at midnight and hold the position all day until next midnight. Some months this proves to be verrrrry profitable however when the market ranges too long my gains are slowly eaten up and I risk ending the year in a loss. Anyone able to help?
for a ranging market you could try a S/R strategy: sell @ resistance and buy @ support
hope this helps
digimix,
for a ranging market you could try a S/R strategy: sell @ resistance and buy @ support
hope this helps
I tried that, 50 % of times didn't worked because:
Let's say price aproaching resistance , so i sell , but price breaks up the resistance level : result is a loss.
Or , conversly , say price is aproaching suppport , so I buy , but price goes further down and breaks support happens to me 50 % of times .
Cheers