| Dealing With Slow Markets
Hi Folks.
If you're still actively trading you've probably noticed that a lot of the pairs have slowed down considerably, both in volume and momentum. Aussie pairs are about the only ones that are semi-regularly churning out days where there is any sort of "normal" price action. The rest of the bunch have been slower than I ever remember seeing them, and I've been at this for 15+ years now.
So that leaves us with two options.
Stop trading (which in my case will only happen after I'm dead) or figure out a way to profit from trade conditions that are most comparable to fighting a war inside of a phone booth.
Over the last few days I've received emails from a few people who have been raving about the results they are seeing using Cynthia Macy's Neon Trading method combined with 2 pip Renko boxes.
You may recall that a few months ago I tested out her Neon system and affirmatively stated I thought it was the best product she has ever released, especially combined with Renko charts.
At the time I was recommending you use 10 pip box charts as we were enjoying some energetic price action and seeing multiple swings of 40-50 pips in the GBPJPY per day.
Needless to say, those days are behind us now, so smaller Renko boxes would seem to be the way to adjust to these smaller 8-15 pip moves we are seeing.
I've been keeping an eye on her Neon setup with 2 pip Renkos on the GBPJPY and I have to agree, if you have the discipline to get out when you reach anywhere from 6-10 pips (get out at 6 if price action stalls out, get out with more if price action pushes past +6 quickly) you can actually grind (scalp) your way into a decent and profitable day.
I realize most of you already have Neon, but for those of you who do not, here is a link where you can pick it up and have it installed and ready to go before the markets open Sunday afternoon (and if you are planning to trade the GBPJPY be aware there are bank holidays in both Japan and the UK to start the week, so you might want to hold off until Monday evening to start trading the GJ):
https://jvz4.com/c/43106/317221
If you've never picked up one of Cynthia's products before, this is the one I recommend you start with. It's easy to follow with clear cut rules for entries and the chart is not cluttered with a lot of stuff you really don't need. And given the slow speed at which price action is moving these days, you can put up 3 or 4 different 2 pip Renko Neon charts and trade them all without feeling like you are getting whiplash looking back and forth at the different charts.
Summer is approaching and with it typically comes slower markets anyway, so there is at least a 50/50 chance we are going to be looking at these slower charts for the next several months. With Neon and Renko, you can still turn most of these slow days into profitable sessions.
The choice is yours. Here's the link again if you need it: https://jvz4.com/c/43106/317221
Jeff
| 
