The market goes into ranges all the time. How many times have you sat down in front of the screen and see it "chop around" not offering you an entry? It's happened for a large portion of this year on he ES.
Whilst many people are staying flat at these times, others are coming into their element and making out like bandits.
Trading is not supposed to be exciting and these ranges are pretty dull if you are a thrill seeker. I took the plunge on trading tight ranges this year when a prop trader was kind enough to show me the ropes.
If you want to know what bread and butter trading is at prop shops - it's ranges, spreads - very unexciting stuff. I know a prop trader that does nothing but work on a good queue position on an ultra-thick market getting into a position where she can take a single tick. So is it a good idea? Many prop firms seem to think so.
It's only really in the retail world of day trading where people are looking for 50 ticks/pips on each trade. Mostly this stems from having a really small account which has to provide huge percentage returns in order to fulfill the traders financial needs.
If everyone had a $1,000,000 account and needed only $200 a day to live on, retail traders would be using low-risk, smaller target strategies. As it is, most people have 4/5 figure accounts and have financial needs which in some cases would need a 100% return per month.
The only real trick is in identifying if it's in a tight range or not but I think most people can do that.
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I set warnings above and below the range and go and do things around the house. My warning sound lasts around 10 seconds and is a warning serine so i can always hear when price does go out of the range.
This keeps me from entering trades that don't fit my trading plan, cause i don't have anything to do in a range.