Good ideea for a forex loser trader like me:
A post from elitetrader.com
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Quote from romik:
Has anyone tried trading against a total loser by opening reverse trades? Losers are not easy to find on BBs, more chances in the open world, that is not an issue anyway. The difficulty comes from finding The One that consistently makes wrong trades and going against him.
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I know two guys in Seattle doing this very successfully.
The basic of their setup is this...
One guy (trader A) is a consistent losing trader with real money (lost about 62k trading futures in a few years) via some particular method he got from a book about position trading.
His buddy (trader B) a breakeven trader at the time...convinced him to stop trading with real money and to switch to simulator trading and to continue using the same losing method.
Trader B than enters and exits trades that are the complete opposite of Trader A positions almost at the exact same time.
Trader B is trading with real money (almost 3x the size) and Trader A is trading that same losing method on a simulator.
They use the same broker (execution platform) and trade side by side in Trader A home office.
Accordingly to them they are very profitable with this type of reverse trading style.
I'll be visiting the Seattle area this summer (camping trip) and will watch them do this in person towards the end of my vacation because I'm curious to see this type of reverse trading relationship.
Maybe this can be automated ???
However, trying to do such by oneself via fading your own trade decisions...I don't think is possible.
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I think a well losing trader should think about it.
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