Bounce or breakout!!!

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Hi spynamax

I used to love breakouts but not anymore. I am trading counter-trend and it is very effective. I try to sell at the highest point of a potentially false breakout. I know that many classic theories are suggesting to buy high and sell higher but in the crazy world of FOREX I preffer to buy low and sell high.

If you have a good counter-trend system, use it. Don't throw it away just because it's not a classic "standard" system, or because other people think that ony the breakout systems are working.

...and yes, you are right about the "big boys". I didn't had an interest on how they trade, but I've seen a TV show recently where a very "big boy" was talking about his trading. He always buys when the price is falling and sells when the price is rising.

 
spynamax:
Bounce or breakout!!!

This is the question for us newbie!

I want start this maybe stupid thread and open this discussion, because usually in any trading rules the breakout system dominant!!!

But I became suspect of this, and if is true that big boys usually buy deeper and sell on top….so why breakout is the rule???

I start to prefer bouce because give me the possibility to set very SMALL stop loss and scarify few pips and I have impression that usually bounce many time happen!!!

But if I marry bounce theory….i am against the rules???

I hope to collect here some words from senior or expert member so we can lean by different opinion based on successful trading.

Someone know any statistics information or personal experience for know better side to trade????

BOUNCE OR BREAKOUT!!!

THANKS EVERYBODY IN ADVANCE…..AND SORRY FOR MY VERY BAD ENGLISH!!!!

spynamax,

Take a look at some of the recent trade charts I have posted on my thread on bounced off and break outs. You can just go ahead and start on the last page and move your way up. I have several charts there discussing bounces and breaks. I hope it helps you get some overview from my prespective and how I trade them. Let me know your thoughts either here or there.

ENJOY!

fxcruiser

 
cucurucu:
...and yes, you are right about the "big boys". I didn't had an interest on how they trade, but I've seen a TV show recently where a very "big boy" was talking about his trading. He always buys when the price is falling and sells when the price is rising.

Hi cucurucu,

Is it a secret to know this big boy's name and/or at least what he trades ?

best regards

 
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