Why not trade opposite?

[10pips]

[deleted comment]

 

[Hoggums]

90% of traders get into loss.

Whatever prediction trade we make, it always ends up a loss........

Why not, predict the trade? and then go opposite your prediction? that way, your initial prediction obivously would have been a 'loss' but your reversal prediction would have been profit?

I dont think this would be known as 'second-guessing' becuase, you predicted the market, and now your going to go against it as your final decision.

I yet not tried this method but hey, am not going to rule it out in the near future.....

It wouldn't work because many traders get "scared" out of their losing positions - but if you'd traded opposite then you wouldn't have that emotion - so you'd treat the trade differently - chances are you'd hold on to it for more profit. The opposite also holds true - any winning trade from your system - you would probably get "scared" with your opposite system - so you'd close the trade.

 

[fibonelli]

Here's a couple of articles to help us traders

Commodity Futures Trading for Beginners
By Bruce Babcock

Elements of a Successful Trading Plan--Trade With The Trend

"Trading with the trend is hard to do because a logical give-up exit point will be farther away, potentially causing a larger loss if you are wrong. This is a good example of why so few traders are successful. They can't bring themselves to trade in a psychologically difficult way..........".
Full article is here http://www.rb-trading.com/begin11.html

Essential Elements of a Successful Trader

by Jimmy Young
EURUSDTrader

Courage Under Stressful Conditions When the Outcome is Uncertain

http://www.goforex.net/essential-elements.htm

 

[shadowninja]

www.tradindex.com gives you £20k play money... have fun!

 

[FUTEX]

Futex,

to really do this successfully, you need to find a bad trader, if its your self then all the better.

step 1 : put on trade as normal, but tell your friend (he will take the opposite side)

step 2 : close your trade, but tell you friend immediately ( he will close his trade)

step 3 : you meet him and explain how you LOST £1,000 on your 1 lot

step 4 : he says he has to rush to see the Ferrari dealer in Monaco as he only trades in 2000 lot clips, adding "I must buy you a pint when I back" - "thanks for the info"

 

[shadowninja]

Love it. So, who wants my bad advice, then? I'll contract in more than a pint.