choppy markets

[pulke]

Hello to all traders....

I am beginner trend trader trying to become a pro full time trader.

My biggest problem is when the market conditions are bad [many mondays for instance].

I tend to enter less than perfect setups [mini so called- trends] which many time cost me many losses.

I have improved my patience- staying out of the market and waiting more but still it is difficult.

My QUESTIONS:

1. What are your methods and advice to trading when markets are choppy and don't present clear and strong trends?

2. If the advice is to just wait- how many trades\days in a week do you need in order to bring home an average monthly income?
One of the reasons I have 'less patience' is my fear that I won't be able to earn enough and be a full time trader if I stay out of the market for too long.

Thank you and any bless you for any good and honest advice that you give

 

[Pharaoh]

If you have a trading method that works well on Tuesday-Friday, but mostly fails on Mondays, then the best option for you is very simple - Treat every Monday as a holiday.

If you trade trends, then markets not in trend are your enemy. If you are a scalper looking for 2 pips here and 3 pips there, then choppy markets may be your friend.

Before worrying about how much money you can bring home, worry about how fast you can lose it all from over-trading. Sometimes "NO TRADE" is the best trading decision.

 

[ForexVerified]

Hello to all traders....

I am beginner trend trader trying to become a pro full time trader.

My biggest problem is when the market conditions are bad [many mondays for instance].

I tend to enter less than perfect setups [mini so called- trends] which many time cost me many losses.

I have improved my patience- staying out of the market and waiting more but still it is difficult.

My QUESTIONS:

1. What are your methods and advice to trading when markets are choppy and don't present clear and strong trends?

2. If the advice is to just wait- how many trades\days in a week do you need in order to bring home an average monthly income?
One of the reasons I have 'less patience' is my fear that I won't be able to earn enough and be a full time trader if I stay out of the market for too long.

Thank you and any bless you for any good and honest advice that you give

In addition to what Pharaoh said, you can try what I keep saying on other threads use larger time frames when deciding whether to trade and when, and use smaller lots with wider stop loss/take profit.

 

[bigdolly]

Hello to all traders....

I am beginner trend trader trying to become a pro full time trader.

My biggest problem is when the market conditions are bad [many mondays for instance].

I tend to enter less than perfect setups [mini so called- trends] which many time cost me many losses.

I have improved my patience- staying out of the market and waiting more but still it is difficult.

My QUESTIONS:

1. What are your methods and advice to trading when markets are choppy and don't present clear and strong trends?

2. If the advice is to just wait- how many trades\days in a week do you need in order to bring home an average monthly income?
One of the reasons I have 'less patience' is my fear that I won't be able to earn enough and be a full time trader if I stay out of the market for too long.

Thank you and any bless you for any good and honest advice that you give

1. Try other instruments.
2. Try other broker (yes you may find your trading much better with other broker)
3. Try to increase lot size and make less entries (right up to 1 entry per month with 10 lot volume, you'll save a lot on spreads, but might get worse execution, double-edged sword)

 

[Painskin]

You will only be able to derive statistics individually depending on your capital and the mode in which you trade. As for difficult moments on the market - everything is individual, sometimes I prefer to wait, but if I work out for it in advance - then I practice the deal.

 

[Balladotus]

I think so, if you don't know exactly how to act in this or that situation - wait. You'll always miss something and sometimes you'll be confused...
Sometimes it's better just to watch and do your statistics or education, for example, than make ridiculous mistakes that will lead to serious losses.

 

[Manalmeena]

You need to experiment and try on a demo to determine what you will understand well and what you will be able to use in practice on a regular basis. Finding your way is exactly what defines a professional trader...

 

[Malsa]

You need to focus on what you are missing today. The market conditions are the same for everyone.

 

[fxoday]

For me better stay away from the choppy market because will affect emotion, and trading forex is about quality, although open one trades but on the right time and market trend, profit will maximum

 

[Olieng38]

Every trader can organize the work in such a way as to get the maximum from the market.
Pay attention to the study of strategies and the distribution of risks so that you can make the desired profit.