Hello everyone, I hope you all find yourselves well today. I’ve made a stark change in my lifestyle, I’m hoping to understand more of what time frames I should be trading on and whether or not I should range or trend based trades . I find myself often with poor internet connection, meaning I would only be able to make a trade once a day, and the rest of the time manage trades with a shotty internet connection. My idea is that it makes more sense to range based trade since there are more possibilities, and day trade, since I only would need to place trades on or near market open/closes. Any thoughts?
Yes, quite the opposite. You’ll be safer trading the Daily chart trends, setting a S/L and T/P for your trade(s).
BTW, you should also search for another internet source as a MUST HAVE OBJECTIVE.
Yes, I agree with @steve369 about day trading being more appropriate to your use case (internet issues). Is this issue related to wired broadband or mobile telephony signal strength in your area? Have you tried both?
About whether you should exercise a trend following or range trading strategy, it is my understanding that ranging markets occur only 20-30% of the time, and that the other 70-80% of the time the market is ranging.
Though I am spending a considerable amount of time planning for trend following I intend to back test some ranging strategies too. The problem I am having is that I want to quantify as much as I can to make the plans mechanical to the largest extent possible. But when you need to specify whether a market is ranging or trending, that itself is open to interpretation. So it is my intention to quantify this too, but I have yet to reach that stage of definition in back testing.
Hi, maybe you should try algotrading, EA’s working ( should work) on VPS with very stable connection.
Oh no. How often are you typically online? And is it because the internet connection goes down a lot? Or just poor coverage in general?