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Counter Trend Trading

Today we have been counter trend trading. Counter trend trading is basically trading against the trend. Now depending on what time frame you trade you could be counter trend trading without realising it. For example if the daily trend is down, and you are trading the 15 min time frame, and that is in an uptrend you are counter trend trading the daily trend.

Trading against the trend is very risky, and should only be undertaken by very experienced traders as you can lose a lot of money very quickly trading this way. I like counter trend trading myself and often trade this way. I don’t encourage my students to do this though, but i can teach you how to do it very successfully. Its not something i do every day, but today was a good opportunity to CTT, so i did. 🙂

OK so here are my counter trend trades for the day.

We took 6 trades in total, for a profit of 58 pips. It does not sound a lot for 6 trades, but when you are countering, you cant afford to hang around waiting for big pips, you have to take what you are given.

The first trade of the day was a Euro short entry at 12953, exit was at 12939 for 14 pips.
At the same time we had an EJ short trade which did not really play out as expected so we closed that one for 4 pips profit.
The second trade of the day was a Cable short trade. Entry was at 16151, exit was at 12986 for 14 pips again.
Then we had another Euro short for 4 pips followed by another Cable short at 16170 exit at 16158 for 12 pips.
Last trade of the day was Euro short at 13003, exit was at 12993 for 10 pips.
6 Trades 6 winners.

I also have another Cable short at 16181 that is still running. I may get this off tonight for a small profit, or i may let it run until tomorrow. We should have a decent move down tomorrow in dollar pairs as the dollar has been pretty weak today but i expect it to come back tomorrow so i will be adding short trades on tomorrow, trading with the trend. 🙂

If you want to learn how to trade Forex like a pro please consider my Forex training and mentoring program. Its well worth the investment. When you know what the chart is telling you you can trade in any direction and make money. For more info please click here.

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