Meet systems engineer who trades on forex market - Roland Campbell. His strategy is to trade news flow, but only news that catches the market off guard. When everyone is wrong and getting stop out, that is when he wants to be in the market. Fading sentiment and psychology is a very important aspect of his trading and one that has proven well form him. He looks for big moves based on misaligned sentiment. He turned $60,000 into $100,000 in a single trade!Roland will let the news come out. Let the market move in its directions. He will watch for pullback, make sure it's not a reversal, and then normally he'll move in on the pullback. If it's a reversal, he'll go short.
Some of his encounter in quotes :
" I have a tendency where, as soon as I buy a currency, it will dip 10pips. Before I would get upset, but now I love it because I feel like I can get in a better price, so I hope it dips another 10 pips. I know the price I want, so I will average into that price."
(Note : If the price moves against him and goes further than four average downs, he will usually abandon the trade.
" The most important thing is to get in there and start educating yourself because the market will teach you a lot. Then, later, I think you should read some trading books."
The above strategy might not sound right to some GURUS. I guess making money is more important that being right or round.
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1 comment:
Very nice blog. I found this information valuable and you provide good knowledge on Forex trading. Thanks for sharing
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