MLC signals System Review How to range trade successfully? First we need to know what is a range. A market is in a range when it is bound between two almost horizontal lines known as the support and resistance. Support is the bottom line. Resistance is the top line. Price action is bound between these two support and resistance and moves back and forth between them.
When the price reaches the resistance, large number of sellers enter the market in large numbers as they think that the market is overbought. When a large number of sellers enter the market, price action bounces back down towards the support. You can think of the resistance as the ceiling of a room. When you hit the ceiling of a room with a ball, the ball is going to bounce back.
Now, most of the backtests that are provided as proof on the vendor sites show a modelling quality of 90%. When you do a 99% modelling quality backtest, you are going to learn a lot more about the potential strengths and weaknesses of any EA.
In the same manner, you need to learn how to optimize the settings of an EA. Without optimizing the settings, you wont get the optimal return with the lowest risk. When trading with an EA, always remember the performance of that EA depends on the setting used. If you use wrong settings, the EA will in most cases give you a large drawdown. So, before you start trading live with an EA, you need to learn how to optimize the EA and find the best settings.
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