Hey traders, it's been a while since I've updated this section of the site but I've been super busy with trying to put the finishing touches on an introductory trading project we're working on for the Forex Market Preview
site call Trading How To: Something something something. As you can see I still need to iron some things out. However, I wanted to hit you with a brief post, not because we've been destroying the market these past few days, but rather because yesterday I switched up my trading style for the room and we were still able to make some profits. Usually I am a counter-trend trader, which is a simple way of saying I go against the market. I sit back and allow the market to do it's trending thing then I jump in when I feel as if it's over extended and look to make money on the retracements. There are many ways to do this such as trading a retest of structure, advanced patterns, abcd completions, etc. Even though I am a counter trend based trader I do know some trend following techniques and can adapt my counter-trend style to hop on an existing trend if need be. That's exactly what we did in the room yesterday. If I remember correctly, we missed out on a counter-trend trading opportunity, (and by missed out I mean that the market didn't give us a valid entry reason), so we decided to wait for a chance to hop in with the existing trend using a structure based technique. We had two trades like this and 1 of them made us some money. The other hit the target area that I project, but do to my risk ratio rules I couldn't take profit off. So no it wasn't a big deal but I received a pretty good response from traders because we were able to make money a different way, yet still stay consistent in our rules and approach. I've done this a few ways on my swing trading setups with the most recent one being the NZDUSD. (Syndicate Members
know what we're talking about), but this was my 1st time testing it out on the day-trading charts. Anyway that's it.
Keep an eye out for a post in the next few days. If you've been following me regularly, or are a member of the live room then you know that last month was very profitable and this month...well not so much. However over the past week we have made an incredible comeback and well... I won't say anything until we actually make it through the month. Fingers Crossed!