MoneyTec Traders Community Forum - View Single Post - Trade Like a Dealer: (And Avoid Death by a Thousand Stops)

fxwiz · 09-02-2005, 14:56

Again I want to reiterate that I trade with nickel (500 pip ) HARD STOPS. LIke Japser I try to buy bottom and sell top but once in while trend WILL run me over. For anyone reading this article I do not want Misperceptions that this is a NO STOP strategy even though some traders may trade that way.
The most important aspect of this strategy is are you comfortable fighting the crowd or joining it?
Your psychological make-up will be the most important ingredient in wether you suceed or fail. Can you calming throw good dollars after bad? If not. If you puke at the thought of being 100 pips out of the money - this is definitely not for you.
I am a renegade by nature that why the strategy works for me and why I have a hard time trading trend.
There is no RIGHT way to trade their is only YOUR way. Hopefully this just shows a way to fade for those who like to use that kind of strategy.

09-02-2005, 14:56	#16
fxwiz level 1 Join Date: Aug 2004 Posts: 21 Downloads: 0 Uploads: 0 Rep Power: 0	Re: Trade Like a Dealer: (And Avoid Death by a Thousand Stops) Again I want to reiterate that I trade with nickel (500 pip ) HARD STOPS. LIke Japser I try to buy bottom and sell top but once in while trend WILL run me over. For anyone reading this article I do not want Misperceptions that this is a NO STOP strategy even though some traders may trade that way. The most important aspect of this strategy is are you comfortable fighting the crowd or joining it? Your psychological make-up will be the most important ingredient in wether you suceed or fail. Can you calming throw good dollars after bad? If not. If you puke at the thought of being 100 pips out of the money - this is definitely not for you. I am a renegade by nature that why the strategy works for me and why I have a hard time trading trend. There is no RIGHT way to trade their is only YOUR way. Hopefully this just shows a way to fade for those who like to use that kind of strategy.