Flexibility with the UMT pays off in these slow marketsmiker | March 18, 2010
If your an active trader like myself, you have been stuck in some very slow markets so far in 2010. The volatility that we saw in late 2008 and 2009 has completely left the markets, making it diffucult to see consistent profits on our usual markets. For a lot of day traders, trading futures and forex have been the places to be. Trading the futures markets is my choice personally. The index futures are very popular for day traders and historically have provided some nice trading environments. However, so far this year that has not been the case.
So far in 2010 we have seen a lot of tight ranges and low volume price action. These are phrases that can send day traders running for cover. The nice part about the UMT is that it gives you the flexibility to change your markets so you can go where the action is. Markets that have shown some nice movement over the last few months are the currency futures. You don’t have to be a forex trader to look at these markets. They will look like a spot forex market and trade like a future.
The market I’m going to highlight today is the Euro Currency. Combining this market with the use of range charts has proven to be a really nice combination. One of the nice features about this market is that you can trade it in both the European session and the U.S. session. We track it on a range chart of 5. The range charts do a really nice job of filtering out the chop that we can see in the markets. Over the past few months this market has produced some very nice results. I highlight Monday’s session in the video below.
In today’s environment it’s crucial that you have a system that gives you the flexibility to move between markets that are showing nice volatility. The UMT is a system that does just that. The system is the same regardless of the market you are looking at which makes any change very straight forward.
If you are getting tired of watching the index futures move sideways all session, take a look at the currency futures. You might be surprised at what you find.