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Al emphasises that beginners should never scalp, they should instead look for 1-3 good swing trades per session.
As the strategy for trading ranges is BLSHS, I assume that then naturally rules out taking TR trades as a beginner? Al doesn't explicitly say beginners should refrain from trading TRs (he does say this about TTRs - but not TRs in general), so just wanted to check if that's the case.
MTR can form in a TTR
P B,
From my beginners experience: Trading Ranges have bars that most of the cases look bad for stop orders (either bad signals, or no 2nd signal at all), so TRs is more a limit order market (i.e. buying/selling in the bottom/top third of the range, avoiding the middle). Most of the days of a month (80-90%) are some type of Trading Range (including Trending Trading Ranges, like last Friday, or Broad Channels). Stop orders in Trading Range by default are few, unless you settle for a scalp, in combination with using a wide stop-loss.
Generally, Al's daily setups only show stop orders, so finding your own limit-order setup is dependent on both your proper chart reading (greater context, i.e. lower time frames), as well as your acuity / risk tolerance. Limit orders in Trading Ranges necessitate the ability/will to scale in, so I suppose it requires a bit more psychological resilience to navigate the market.
My 2 cents.
Good luck!
