If you want to make big profits from currency trading, you need to lock into and follow the longer-term trends.
The art of contrary thinking is one of the most powerful tools a trader can use, and is a trait with which all true great traders are familiar with.
What is the Art of Contrary Thinking?
Humphrey Neills book, “the art of contrary thinking, the best known work on the subject, is based on a simple powerful idea that:
“When everybody thinks alike, everybody is likely to be wrong”
The art of contrary thinking consists in training your mind to ruminate in directions opposite to general public opinions; but basing your opinion in the light of current events and human behavior.
Why Contrary Trading Works
By spotting situations when the consensus of a currency is either extremely bullish or bearish, means that a trend change is imminent, as it is likely the emotions of greed and fear have pushed prices too far away from true value.
If you can step aside from the crowd and take a contrary view at these turning points, you can make big currency trading profits. Contrary thinking can be used in any market...
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