Indeed it will
Not a problem mate
i had around an hour to kill, so i figured i’d pop up a few screenshots for you to explain it
let me know if you have any questions
I still haven’t had the time to gain a good understanding of what you said, Its been a very busy week.
But you have changed my attitude towards forex.
Right from the start I had the theory - learn to trade trends as if you cant do that you will never be able to trade.
Now I’m thinking if trends only happened 30% of the time would it not be beneficial to learn to trade ranges and enjoy trends when you have one.
Ill post a pic later but using my example above I worked out a way I should of traded the period from 2015 on wards using S&R. Although its going to take me ages to prefect it it did make the chart look a little less chaotic and more pleasing to the eye.
Once again thank you Martin and everyone that has replied
Not necessarily.
For four main reasons.
-
It’s much, much harder to do - so it’s far more laborious.
-
The potential gains are much more limited than those accruing from catching a trend that might run a long way - so it’s less worthwhile.
-
They tend to be higher-risk trades as well - so it’s more dangerous.
-
There are so many instruments to trade that there’s always something trending - so it isn’t really necessary.
By the time you add those four reasons together, it becomes quite questionable, for most people’s purposes.
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No problem mate, take your time, as long as you like.
you’re not under any obligation
as for learn to trade trends hehe…
No, don’t throw away what you know, because the market is dynamic and you can always at some point apply what you have learned, even though it’s a small piece of information
my advice, just flow with it, watch how the instrument behaves and learn it
my other advice is this…
Eat well before you trade, there are Physiological reasons for this
but in short, your brain is an amazing thing, it will detect patterns without you even realizing and one day you’ll wake up and be like… wow, i get it now
but you can help your brain along by feeding it nutrients that it’s needs to function better and think better
trust me, a quick meal and a glass of water or orange juice (or any juice) does wonders before trading.
take your time
feel free to ask questions
Thank you so much for this detailed explanation, Martin. You delivered on a platter what I hadn’t learnt from watching hours of videos online. I feel enlightened, so yeah, you get my GOD LIKE STATUS if it means anything.
I hope you keep contributing to this forum whenever you get a chance.
Cheers.
Interesting history mate 
Been a member a week, 6 likes - 4 of then to Martin-k and this obsequiessness - is your only post !
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Looking from this angle, it does look funny… But I’ve been studying technical analysis for futures in a foreign market for a few months before finding babypips.
hehe
Thanks mate, YES it does mean something
it actually means a lot
i appreciate people who appreciate me and the time i put in
it took me a while to pick up on this as well,
and in fairness, i was guided to a large degree, but someone who knew
be cool mate
i’m glad you enjoyed it
@LaughingCharlie
@MissPIPa
I agree with charlie on this point
Range trading can be very dangerous,
you can get caught up in a predictable range and make a bit of profit and be caught in a habit that last say a few hours
it’s up
it’s down
it’s up
it down
etc etc
its up… it’s hits your T/P
YOU EXPECT IT TO GO DOWN AGAIN,
you place a sell
and it shoots to the sky hehe to collect around 150 pips
and in doing so, takes all the profit that you had accumulated during the range
so… it should be understood that the tutorial i gave you on Ranging, is because you (MissPIPA) asked, HOW DO I IDENTIFY A RANGE
i didn’t necessarily advise that you trade in one
but again, it’s up to your personal style as well.
but generally, Charlie is correct on this point. it is risky
As a newbie trader in the making, your explanations
makes trading sooo easy but i know better, and 'am learning.
Great work.
The way I perceive the prediction in forex is simple. Price go up or down, only one of those ways , given a time period. Out there there a trade management system to handle trade groups by balancing the buys and the sells in group so that you end up always either with a win because your first trade was right or a win again because despite the fact that the first trade was not right, the trade management system opened larger trades the other way and end up getting out with a small win.
The only disadvantage I know to such systems is the difficulty getting the right setups and the margin voracity… But when all that is calculated well, you have a system you can entrust your hard earned money to and expect only profits, as long as the right brokerage conditions are met.
I have such a system and I would not advise any specific broker but I can give tips on how to find test and choose one yourselves.
With such a system, you can expect from 5 to 25% ROI per month.