Anti-sentiment trading

Nothing new here. Crowd sentiment remains the same: sell CHF, buy JPY. Notice, how CHFJPY bounced of 200MA 4h TF again, opposite to the crowd expectations.

Today is MLK day in the US. It might be a good idea to stay away from markets :wink:

This is so true, its crazy how many times you can see things back tested but lose confidence in placing that trade. You have to go through it yourself the losses the wins the lot. Thats why trading is hard imo Every mentor can bring you to a competent level but unfortunately all traders must walk alone

Rightly so and beautifully put: every trader must walk alone. Especially, successful one. One thing, though, I thought I’d like to clear out - trading itself is not hard. A trader makes it so. With 15 years spent in different markets with so many different styles of trading executed by different traders, I’ve really seen a lot, not to brag.
The most systematic, essential, overarching, and global problem with trading is traders’ ego. Nothing new here said under the old good Sun. But this should be stressed again and again and again.

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CAD is the most sold across the markets now with JPY being the topmost bought. On 4h TF CAD/JPY formed a seemingly double top and it might be (though quite a risky) chance to sell the pair. I am going to stay on the safe side and wait for a possibility to do the contrary and buy the instrument at the bottom of a range somewhere around 90.50.

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CHF/JPY again is the most sold pair. I am going to go long if the price action is right around 200 MA 4H which is also supported by daily pivotal support. However, the stock market showed considerable weakness and the yen could strengthen even more.

I’ve been doing forex trading for a while. Everything was going great; I was making good money. However, this did not last long. Soon I began to lose money rapidly. This happened because forex trading is unpredictable, and it is difficult to predict anything. Then, after studying little other markets, I decided to do futures trading. I liked this market and decided to delve into it. After a bit of training, I immediately started trading futures. The first results were not long in coming. The advantage of futures trading is that you can always stay in the black if you do everything right. There is nothing unpredictable here.

You rock up here as a complete unknown and say there’s nothing unpredictable in futures trading.

Maybe you expect traders here to just trust you and take your word for it.

But if this is such a good idea post up some hard evidence to back up what you say.

NickWhittle, pls remove your post, it has nothing to do with my trading journal.

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So, let us see how CHF/JPY behaves. 19 pips SL and 40 pips TP.

So, the stock market went down again. DJI now paused on the daily 200 MA, we will see if that holds. MY counter-sentiment CHFJPY trade is the loss of 19 pips, obviously, as the yen strengthens with risk-off mode. Nevertheless, CHFJPY is the most sold pair. I am waiting for it to resume uptrend with a watchful eye on 200 MA 4H TF.

Just look at that! :smiley: How it bounced of weekly support, shorts squeezed again.

Well put and why trading can be a lonely and hard choice of vocation. There is nobody to blame around you, and at times there will be nobody to blame at all. Variance will just not be in your favour.

Traders’ sentiment is to sell GBP/JPY. As the pair has stopped dropping slightly below 200 MA 4H I am looking to long it if price action confirms. Just have to wait for London to open.

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This morning shows crowd top sentiment in favor of buying AUD and selling CAD. So I do the opposite - I just sold AUD/CAD at 90.25 with TP1 40 pips, TP2 80 pips and SL 35 pips.

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Get out of AUD/CAD trade if you followed me. I’ve got some profit, but now it would be best to stay on the safe side.

AUD/CHF and AUD/CAD are the most bought pairs across the crowd. That signals a potential move down but before entering trade I have to wait for instruments to bounce a bit.

Oh i agree, trading itself is not hard its a simple buy/sell option its just building the right foundations that are a little difficult. However, its within reach for 95% of people if the work is put in :slight_smile: I agree too humility is so key in trading because if you dont have it the market will humble you lol

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@cashking86 I truly agree! Losing or winning trades, it is all on the trader. We can not blame anyone for our trading outcomes because the decisions are ultimately taken by us. That is why we should not trade the money which we can not afford to lose.

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Absolutely and trading is a probabilistic numbers games and in a random sample size there will be lots of periods of losing runs even when your strategy is correct and your entries are too all we need to know is over the long run we will be profitable

Yup looks like it surged since! Just randomly checked this one today.