How do you handle this?

Discussion in 'Forex' started by theprodigy, Jun 8, 2009.

  1. Hello gentlemen.....

    Ive been trading forex recently primarily the eur/usd pairing....But time to time i get stuck when its consolidating, "evening out" quicksand i like to call it....

    Not only i find this is as unnecessary stress but its pretty boring....

    My question is what other pairing could i look at when the market is slow thats similar to a moving eur/usd????
  2. Have you looked at Sterling/Dollar or Eruo/Yen or Aussie/Dollar?
    (looking at other pairs such as these will help you see how one moves in relation to the others and can lead to better decisions)
    -Just like in stocks, you should be looking at the entire group eventhough you are only trading one.

    What time are your trading? How long do you hold? How many pips are you looking to make? Even in a "consolidation" period you should be able to get a good 18-20.

    What is more exciting than that? (not really the best outlook to have in my opinion, entertainment) but then again, if the market is consolidating and you are in this "quick sand" as you say, why the stress? You should take comfort in knowing that you are basically flat. :)

    If you are fearful of taking a position or get nervous when it does not instantly move in your favor; your system has a design flaw and you may want to consider tweaking before you proceed.

    Look at the group, find entry and exit points for all of them and watch it to see how well you do before getting stressed out in a real trade. - Watch how the quick sand churns and see if you would have entered in a different spot if it would have made a difference. - Zooom out of a 1 min chart and look at different time frames for a bigger picture.