You can never profit in FX with a contrarian mindset for life, because you are brainwashed by ranging/sideways markets
Most of the FX market is built on ranging markets
Looking at it in a broader sense, a trending market is a momentary event
However, it is also true that once a trend appears, it can continue moving
Because a contrarian mindset limits trading strategies to only range markets
even if you profit, it’s only a temporary gain
Once the market starts moving, that mystery is quickly broken
When it actually moves
the market doesn’t easily return
prices don’t revert, so losses expand as is
As losses expand, the profits accumulated so far disappear
And when the market doesn’t revert,
unless you immediately cut losses on that position
you won’t be able to continue trading as is
If you try to start trading
you’ll again begin trading after cutting losses
In practice, it becomes a trading style that generates infinite losses
With a contrarian mindset, profits don’t remain in the end
and you continue to be brainwashed by ranging markets
It’s better to switch to trend-following trading
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