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Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be
suitable for all investors. The high degree of leverage can work against you as well as for you.
Before deciding to invest in foreign exchange you should carefully consider your investment
objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss
of some or all of your initial investment and therefore you should not invest money that you cannot
afford to lose. You should be aware of all the risks associated with forex trading, and seek advice
from an independent financial advisor if you have any doubts.
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Trading Insight Articles
Trading philosophies and insights on trading that may give
you alternative trading perspectives and better trading habits.
Different perspectives
Trading the Forex Market can be a fast paced endeavor. However at Forex
Club Manila we believe that after everything is said and done, we need to
reflect on what we have or have not learned. The trading articles posted by
Mark is deep, relatable and educational. Through trial and error Mark posts his
learnings as he progresses with his trades and his career as both a
businessman and a Forex trader. His articles are his personal views on what he
discovered for himself and what he hopes others will discover for themselves
sooner than later.
Trading Ranges
By Mark So
October 27, 2007

When I started my trading education, I often read and was taught by the "trading
gurus" that there are only 3 market movements. -- Up Trends, Down Trends, and
Rangebound or Sideways. While I took this lesson pretty well, I couldn't fully reconcile
what was being promoted as gospel that in the forex market, price action is 80% of the
time "rangebound". What I have learned through the trenches though is farther from
the standard text book explanation and a whole lot simpler than anything else.  Let me

Try opening a chart, any chart, what do you see? Chances are you see a movement
up (up trend) or a movement down (down trend) and not really a sideways movement
(horizontal). I then said to myself, well this must be the 20% of the time. Problem is it's
been 3 years and all I could see is the 20% What am I missing?

Well, there was an "Aha" moment for me. It's actually quite simple really, you see the
mistake happened at the very beginning when the terms "Rangebound" was used
synonymously with "sideways". Let me say right now, they are NOT the same. You see
when the markets are moving Sideways, the price moves down to a certain same
"horizontal" lower area about 2 to 4 times and up to a certain "horizontal" upper area
about 2 to 4 times. I lead myself to believe that this price action was the only
acceptable definition of "Rangebound" - It is not. You see the simple truth is, all market
movements whether it's an Up trend, Down trend or Sideways trend are ALL
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