If 80%+ of Fx Traders Lose, Why Would you Ever Want to go With the Crowd ?
Aah...but easier said than done. After all, we are all receiving input from the same sources....media, technical indicators, gurus, signal providers...etc: So it stands to reason we would all have close to the same opinion on a trade. And of course that opinion or feeling is wrong.
To combat this and become a consistent winner, we learned early in the 30 year bond pit at the Chicago Board of Trade how to "fade" ourselves. In other words, if all your sensory functions are telling you or giving you a feeling to be long, the odds are most others are feeling the same way, and that has to be wrong.
Jeff Wecker