What is my axiom in trading? My axiom is "In Forex only 1% wins, and 99% loses". The resons leading to this statistics are incredibly diverse but this is how this strange electronic and automated world goes. Having more free time I would be happy to learn more technical aspects of graphs and indicators.... but since my time is literally counted I always wonder how can I decide which side of a pair to take with a brief look at the graph.
It's a month now that I've decided to use the "contrary sentiment action". What does it mean? It means to watch a poll about a pair....and see the result; if a position is approved by 3/4 of voters there's a good probability that the best position is doing the opposite!
As absurd as can seem, at least this morning it worked.
My attention fell on the pair USD/CHF this morning at about 7:00 (UK time); the "Community predictions" of Dukascopy were about this pair with a ratio of 20 (short positions) to 70 (long positions); the long positions at this point have simply no reasons, because the pair is on a downtrend from March 10th (3 consecutive weeks, yeah) and needs very strong economic data at this point to invert the route; so...I've opened a short position at about 7:00 am and after about 6 hours the "Take Profit" (or TP) point was reached.
It's a month now that I've decided to use the "contrary sentiment action". What does it mean? It means to watch a poll about a pair....and see the result; if a position is approved by 3/4 of voters there's a good probability that the best position is doing the opposite!
As absurd as can seem, at least this morning it worked. My attention fell on the pair USD/CHF this morning at about 7:00 (UK time); the "Community predictions" of Dukascopy were about this pair with a ratio of 20 (short positions) to 70 (long positions); the long positions at this point have simply no reasons, because the pair is on a downtrend from March 10th (3 consecutive weeks, yeah) and needs very strong economic data at this point to invert the route; so...I've opened a short position at about 7:00 am and after about 6 hours the "Take Profit" (or TP) point was reached.
