I've been thinking of my current blowup and failure as a trader (but not complete failure since I intend to learn from my mistakes and recitfy them), but was thinking that with my extremely low win rate that perhaps if I did the opposite of what I think I should do then I would be better off? Maybe common sense thinking when applied to the markets doesn't work? Has anyone entertained the idea or tried to implement taking the opposite of the trade you think you should take?
hehe ya I felt that way many times in the past too ... I never tried trading the opposite. To me best way to handle this is to make better contingency plans ie stops and exits (not necessarily closer stops). Just better placed and for reasons you stick too.
I believe this is called the "George Costanza" methodology. Never used anything like this myself, but it worked for him!
It doesn't work like that. Stop trading. Get a good trading plan. Learn to stick to it. The profits will take care of themselves. Doing anything else is just a form of gambling. All you are doing is giving the professional players more of your money to spend. Good luck, FT71
No, it does work. The problem is if you might learn what your mistakes are from it and then it doesn't work anymore.
No, it doesn't work. The problem typically stems from your management of the trade after entry. It doesn't matter what the entry actually is, opposite or not, the problem lies elsewhere.
yes, I did, I am try anything guy. If I remember correctly it worked for a couple of trades then it failed again. The problem was after a couples of trades I couldn't figure out who was real me to fade.