Actually in order to make profit in altcoin trading, you have to swim against the current trend - buy when everyone is selling and sell when everyone is buying.
I hear about this strategy especially when I was in forex trading. But I really could not understand how to do this and what will be the effectiveness of this strategy?
When everyone is buying if we sell then we need to wait for long time in order to prices to come down and same thing applies when we sell when everyone is buying. What is the implicit meaning of this strategy, I really could not understand.
mostly the trends always correct , trading against the trends for me not recommended especially for a newcomer and in bitcoin trading. i have experienced trade with this style and in the end i just suffering a lot of losses. do your own research and decide by yourself. be confident and be positive , you'll find your own strategy.
Maybe trading against trend means entering at the end of the trend but in opposite call.
If it so, the challenge of finding out the over-bought zone or over-sold zone will remain same. So, typically there will not be any significant advantage by this method in my view too as we still need same strong technical analysis.