Well, yesterday I mentioned that the platforms were almost equal, but then later, the ranging one started taking over and today has also been a ranging day with the platform ahead of the trending one.
I was reading a forum yesterday, and at some point, a poster says:
Who else is sick of the sideways market?
Well, this was posted by a member on .... feb 18, 2009.
Do you remember at the beginning of this blog I mentioned that February had been a ranging (or "sideways") market. This guy was trading a trending approach, see, so things weren't going well. At that time, the ranging platform was doing very well, thank you very much. That's why we need 2 approaches!
So currently, the ranging platform has taken over the trending one. Here are the closed trades since last Wednesday, with gbpjpy just reaching its TP a few hours ago.
For a total of +550.
And I'll also cite something else I enjoyed reading. This other guy compares trading to baseball and martial arts:
"I used to play a lot of baseball. I cannot tell you how many times I went to bat. What I can tell you is in a split second I could decide if it was a ball or a strike, if it was a curve ball or a knuckle ball. Most who have played will say the same thing. I could even see the strings on the ball as they were rotating. This would tell me what kind of pitch was thrown. This would tell me to swing early or wait a little longer to let it break and then I would swing. I was able to do all of that by doing it so many times. Trading is no different."
"Now comes practice. Demo of course till you know it in your sleep and you can actually feel the movement in the market. Martial artists will tell you after they practice so much that the opposing guy throwing a strike actually feels like it’s in slow motion. Trading is no different. You will learn to feel the rhythm and will get good at finding the best entry and exits. This comes from practice."
And I would add that this approach is no different. You will eventually "feel" when markets are turning around after watching your platforms show you a certain number of times.
Alright, let's get back to the charts, we've got a big week coming up!
Happy trading!
