~Snipped
Do you only trade according to the trend or you counter-trend trade from time to time?
I learnt my lesson the hard way. Now, I don't go against the trend. If the trend is for price to go down, I have to go down with it and vice versa. One thing I didn't realize and I think a lot of traders don't realize too is that we have no control or power over the market so when it's going up and we try to make it go up, we will just get our capital eaten away. I had several trades during the last black swan like dump that happened due to the blowout from the Japanese carry trade. Instead of agreeing that the trend is downwards, I tried to stay long for as long as possible and that cost me.
Never again.
It’s really hard to win when you go against the trend, but I think some exceptional traders still manage to go against the trend and end up making significant profits. But if you’re still learning the process of trading, I suggest just go with the flow, go wherever the market leads you. Do not counter-trend because that would only mean more risks on your part as a trader. Reality is we are trading following the trend of the market, not to end up going on the reversal.
Yes, but probably just 1% of all the traders, so there numbers is really small to be called exceptional traders and for sure, one of this days, the number will go against you because of you going on the opposite side of the trend. It's like you are betting against what the market is offering and it's hard to do that even if you are really that good or above the average mindset of the traders. But maybe this is why some of them become so rich because of counter trading. However, it is not meant for everyone, again, you might be superior, but at the end of the day, still boils down as to how you make money and how much it is.