rijay wrote: Fri Apr 06, 2018 8:14 pm
what strategy you use in sideways markets? still better if you have and can elaborate your strategy to trade sideways market as that will benefit readers here. if your strategy works for the readers that is better as they will make more money 70% of time and they need not wait for 30% to come trending their way. your strategy that fits readers mind and benefit them is most important point on this forum.
how do you filter false breakouts in sideway market ?
I repeated myself already a few times here, but hey, I'm used to it that noone listens to me and afterwards they give me right.
(This is offtopic and has nothing to do with the PZ DT indicator:)
Buy bottoms and Sell ceilings. 3 out of 4 times you can do that. Look for false breakouts and go. It has a very nice R:R. If the breakout is real, you loose very little pips, but you know the coming trend will give you more than enough back. Sounds simple and it is. No indicator needed. It helps to draw S/R lines. Two strategies in one for sideways and coming trends before it is established. Trends are the movements between consolidations, so it makes sense to focus on consolidation, right? If you focus on trends, you're always late and often will find yourself in positions where you don't want to be. This is another piece of mindset that distinguish a beginner from a pro.
Yes, trends are easier to trade, but when you don't know how to get in the market at the right time, the "Trend is your friend" is useless.