Hello all,
this is my first post on this forum and i would like to start off buy saying that so far, this seems like a great community of traders and i can really learn a lot being a part of this. With that being said lets get down to the problem. I am a new young trader and understand the importance of understanding the market before you really start risking your hard earned cash on real trades, so me and a few of my friends have practice accounts with Forex.com.
Anyway, we've been focusing on trading the euro/usd pair. as you guys already know, since the open on sunday, its been moving pretty sideways, not moving more than 10-15 pips in either direction. WEe have no idea how we can trade this. EW tried scalping the few pip movments that we seen, but that hasnt been very successful. We came up with a theory of stradling the market so when it make a break from the bands we can capitalize on the movement, but our entry seems a little far from where the market is now(60 pips away to be exact) we are affraid to get close because we dont want to get a spike that test the high and then goes back down, but we still want to capitalize on the profits that we could be missing.
Any tips or ideas on how to handle this market as of now?
Thanks,
-evinn
this is my first post on this forum and i would like to start off buy saying that so far, this seems like a great community of traders and i can really learn a lot being a part of this. With that being said lets get down to the problem. I am a new young trader and understand the importance of understanding the market before you really start risking your hard earned cash on real trades, so me and a few of my friends have practice accounts with Forex.com.
Anyway, we've been focusing on trading the euro/usd pair. as you guys already know, since the open on sunday, its been moving pretty sideways, not moving more than 10-15 pips in either direction. WEe have no idea how we can trade this. EW tried scalping the few pip movments that we seen, but that hasnt been very successful. We came up with a theory of stradling the market so when it make a break from the bands we can capitalize on the movement, but our entry seems a little far from where the market is now(60 pips away to be exact) we are affraid to get close because we dont want to get a spike that test the high and then goes back down, but we still want to capitalize on the profits that we could be missing.
Any tips or ideas on how to handle this market as of now?
Thanks,
-evinn
