es/pip wrote:It is just range contraction and expansion which is visual on the chart.
If things are real tight in a defined range then wait for the range to expand and volume to pick up.
Not sure where you are at with all of this as for as account size, but you can also look at DAX, CL and GC if currencies are not moving. Those three usually move regardless. Not for the faint of heart though.
You said earlier that commissions and spreads are getting you. What is your normal spread and commission rate?
Thank You. I will definitely look at these indexes.
Im trading EU exclusively (and looking at gold on futures) at the moment and counting everything in it's usually 2 - 2.5 pips (spread around 1.5 and another 1p in commisions). So it's tough to trade when I HAPPEN to end up it 5 - 8p range. Especially when You're looking for any kind or confirmation. Getting whip sawed etc. It's a mess really.
Im using a shitty polish broker though but it's a must for me because I need to "account for the tax office". Fck I dont know how to say that
I had some problems with tax office before and now I need to be extra careful. My accountant (again I dont know if that's the word) said that it'll be best to stick with polish broker, especially a big bank, so they wont be looking up my ass again
Next thing that I'll do is I'll create an offshore company and trade on low taxes with any broker I want to but that's for the future.
Putting that post together was A STRUGGLE. I learned new words
Sorry for any mistakes.
I never thought about just waiting for volume and volatility to increase and break out of the range. It sounds like a great and simple idea but I need to see this in real time. Might not be that easy. Thanks a lot.
Also I need to slowly move to trading some higher timeframes so I can compensate the high commisions.