Hi I have different strategies for trading either market, however, my biggest problems are determining which market we are currently in.
My methods are simple using support and resistance lvls. The whole idea for me is to try to get 30-45 pips each trade and my sl is the same lvl. It works for me because my winning trades outnumber my losing trades but my losing trades are usually because of my mistakes on determing market.
I saw in another forum someone had the same problems and the answer was that whenever there is major news the markets will start to trend, whenever there isn’t any news they will range. What is your opinions on this matter and is there any other relevant advice you can offer? Thanks in advance.
ps. Please no generic “you will get a feel for the market” answers or “you shouldn’t be trading if you don’t know”… they are just obnoxious and pointless. Thanks again