How to identify and trade in a RANGE - page 4
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One of the biggest problems I have had with ranges in FX is the spread. I can take a 3 tick scalp on the YM, NQ, or TF futures during the US session and make $10 to $25 after commission. Whereas I can't make a cent on FX in the exact same market because of the spread. It is frustrating.
I am not sure what to do about it other than step back to a higher timeframe and slow down. Yes, fortunately the markets are fractals and ranges exist on ALL timeframes. But I like to get in and get out fast.
As of this moment, I can only hunt for larger 10 to 20 pip ranges in order to use the strategy presented on the first post of the thread. Perhaps I need to get a $10,000 account in order to get the best spreads, or maybe there is a broker out there who is a little more understanding of the needs of the scalper?
Privately, PLEASE let me know your experience with scalping and your best broker recommendation for quick entries and exits. Again, do not post broker information here, but send me a message.
TTContinuing the previous idea, I need tight spreads to range trade OR I must just get flat and stand aside or I will get chopped up. I want and need tight spreads!
Obviously a lot of brokers are missing, but here is a great resource for total spreads:
1. Be sure to click the box that says "Include Commissions"
2. Click on EUR/USD to sort the brokers by the lowest combined spread on that pair.
3. You can see the best spreads for each pair in green
hi
i have the same idea ... and so exited to see your article.
I'm training to write an expert based on it.
thank you :)
Thanks my friend. I was looking for this for a long time
You are welcome. I hope it helps.