It's been one quiet month of trading so far. Only two trades (see trade detail here) taken for the month. The setups simply haven't been there for my strategy. My system measures every tick to evaluate an opportunity. But so far, they have been few and far between.
Last February the same strategy took zero trades. But it's not a February thing. Other February's have had high trading volume. It's just randomness. And a lot of boredom. But I'm up for the month, so can I complain? Of course not. Am I bored. Of course I am.
But trading is supposed to be boring. If it's a seat of your pants experience, then you will likely lose your pants sooner than later.
What really drives trade frequency in my strategy is the overnight range. It has too be just right. Too much or too little and one of the first conditional statements are not met and no trades are taken.
It's not really a function of the overall market environment. My mean reversion strategy will still trade during trending markets on a larger timeframe. I trade five minute bars. For me, it really just comes down to that day. Even if we are inside a trending or sideways market, that specific day is all that matters.
I prefer sideways trading and you can have those days, and will have those days amid a trending market. Whether trending higher or lower. And I also don't analyze asset class correlations. In other words, I trade ZB independent of what ES, TF, DXY and more are doing.
I simply have not found a viable reason to add another layer of statements into my rules. Sometimes those correlations work but most of the times they do not. At least not for my intraday scalping approach.
As I type the overnight high of the day was just taken out. By one tick my first conditional statement was violated. In other words, another quiet February day.