/4/17 · Doing the opposite is not bad. It is an expression of being original in a world where the speed of execution is enough to keep markets moving in the opposite direction until the stop-loss is reached. The more original the strategy, the better.5/5(3) /8/26 · So you should not take any positions until you see the same signal in both of these pairs, or at least one currency pair should not show something opposite. (Of course, when these pairs really show two different directions (which rarely happens), it will be /6/15 · Taking the opposite trade is the 'BEST WAY TO TRADE'. For one simple reason. No indicator, or forex guru can predict the price action which is to come. So all though your system or someones recommendation may work at first. Playing the reversal simply
Understanding Currency Pairs Correlation for Forex Trading | Market Traders Institute
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Taking the Opposite Trade. It's well known that most retail traders don't make money in Forex. Has anybody in this forum done a controlled study where the other side of the intended trade forex do the opposite taken? So if you fancy a long position just go short forex do the opposite. If so it would be interesting to see the results. Please don't start a discussion about hedging as it is a different strategy. Quote Message Report. If you are taking the opposite position to that which your strategy indicates, your strategy is not working and you have become a gambler.
I agree. It was a bit of a tongue-in-cheek question because when we all start out as newbie's this is what happens in reality i. e we go short with all good intent and the market goes the other way. I thank you your advice are very useful. Forex do the opposite long as you respect the money management rules you can enter the trade even based on which side the coin flips. valentine posted: As long as you respect the money management rules you can enter the trade even based on which side the coin flips I'd have to disagree.
One of the most misinterpreted lingo in forex is 'Money management'. Many individual factors make up this lingo. Yet, in no way shape or form is ones 'entry' factored in, forex do the opposite. I've noticed that most traders, assume their entry is the perfect one. Which leads to trade bias once the position goes against us. Here is a prime example.
How could one manage money efficiently when it is a fact that the longer you HOLD position, forex do the opposite, the more likely you are to close it at a loss. The word gamble isn't defined by the amount of money you wager, forex do the opposite, or the risk you take. It is merely defined as 'Taking a risk in something which we don't know for sure what the outcome would be' Many of us use high tf to enter a position. When we should use the lower tf to enter. To answer the thread starters question.
I reverse trade. I believe once you enter a position, forex do the opposite. If that position goes against you 5 points, you should not forex do the opposite that position to continue to run. Of course it depends on the system which you use to enter. I currently don't have an account right now big enough to test the method for public display.
Yet, with the account which I've attached here. I focus solely on my entry. Where as a sl of 6 is more then enough. I for one believe if you reverse trade you will be come way more successful then you would if you trade with bias.
Hi, This topic is very interesting. You are talking about the SSI Speculative Sentiment Index. And after a week, we had the confirmation, GBP lost pips. To reply to the first question I'm actually testing it since forex do the opposite couple of day. I have a real account connected kind of EA to a demo account that trades the opposite of my trades.
As I'm loosing, if my real account does the opposite of what I trade in demo well I should be a winner. The only tricking thing is a newbie cobaye should trade on that demo account because as I'm aware of the reverse strategy, well I trade the opposite of what I think on demo so it does what I want in real account.
Enjoy trading! Taking the opposite trade is the 'BEST WAY TO TRADE'. For one simple reason. No indicator, or forex guru can predict the price action which is to come. So all though your system or someones recommendation may work at first.
Playing the reversal simply means your going with the price action. Not against it. No one in there right mind would take a position in which they 'KNEW' they would end up being in red 50 points before they made 50 points.
If one honestly believes that then they should take the opposite trade. Especially when your in profit and your BE gets hit. I do it all forex do the opposite the time, and it has led to my account doubling :. We were talking about trading not scalping 5 pips. If you do scalping in a volatile moment whatever you open long or short it will works anyway.
Scalping is a form of TRADING. Regardless if your swing or scalping. You simply have to look at your entries. Take the avg amount of points in which you enter in red maybe 10 pips before you win 10 pips.
Even if it is a pip tp. The reality is most of us are trying to earn the most pips we can. So why not take the reverse trade and gather points instead of being bias towards the first position?
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Why does the market always go the opposite direction to my trade?” with FX Coach Andrew Mitchem
, time: 4:53Currency Pairs Correlation in Forex Market: Cross Currency Pairs
/12/2 · Then the obvious comes to mind if 95% of traders lose money consistently, if we bet on the opposite trade of the herd we profit That would probably mean to do the very opposite of what books and gurus recommend, maybe sell at dips, buy at tops, go always counter trend, aim for large sl and short tp and other crazy ideas since when we follow these rules we apparently always lose money /8/26 · So you should not take any positions until you see the same signal in both of these pairs, or at least one currency pair should not show something opposite. (Of course, when these pairs really show two different directions (which rarely happens), it will be /11/5 · The retail trader, who is usually fairly new to trading, has a habit of trying to pick tops and bottoms. But the statistics show that most retail traders lose money, while professionals, by definition, are profitable. This is not unique to FX, but rather is typical across all financial markets in the world
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