why are any of you looking for a way to make money when Jack Hershey explains exactly how to make money and A LOT of money Last post on this page in this thread http://www.elitetrader.com/vb/showthread.php?s=&postid=1897817#post1897817
shortie, all successful trades are with the trend ... how can they not be as you are trading with the direction of the order flow. You may rearrange your chart so that you can see a longer slower trend and your trade may well be counter to that, but that is your choice. regards f9
If 2-hour trend is up, and 1-hour trend is down, and I take a long position, does it make it a "trend-following" or "anti-trend" trade?
I am having a mixed success with counter-trend. It is just a hard trading for me phycologically: one trade +p&l, another trade +p&l, yet another trade +p&l: I am the king of trading! Whack: the daily profit is gone! Sh*t! What's even harder for me is sticking with the trend . I just don't have the patience for it. I have been assuming that most traders go counter-trend because the holding period is shorter. But I need to seriously re-think this and try to incorporate a trending approach in my trading.
Don't make the mistake of getting trend reversal and counter-trend trading mixed up... Most do. You can use ET search or Google to find those that understand and explained the difference. Mark