Retail traders always get it wrong because they use indicators, most of these retail traders are using stupid EA's which also rely on lagging indicators, I'm only interested in where the big boys place their orders, retail traders are just liquidity from one big boy trade to the next. Because of this those charts are totally meaningless. It doesn't matter if the majority of retail is long, once the big short order gets hit they're all getting stopped out. If you follow that chart you are trading off dumb money, even if you try and trade against all the retailers you are even dumber money because you could be stopped out before you reach the big institutional order. I know nobody will listen to me because on here everybody is an elite trader but when I first started this was one of the first strategies I tried, and it didn't work.
yeah. professional traders use only prophetic indicators which tell them about precise lows and highs 22 minutes before they take place. corzine from MF global is not a retail trader and was not using TA indicators. somehow he lost MILLION TIMES more money than avg retail joe schmoe. oh dear lord, how on Earth it was possible?
knife catchers typically think stop losses are for sissies. it seems retail traders were right holding shorts. long live swiss national bank with their eur denominated assets
Touch down on 3rd standard deviation. No need for a stop. http://online.wsj.com/community/groups/market-view-845/topics/do-you-see-euro-versus As you can see from the WSJ poll, 76 % of participants see EURO below 1.3000.
no need for a stop? unless you have unlimited capital, it always ends very badly. but i'm not surprised, 99% of traders with 20+ years of "experience" still don't.... get it!!!!