Picture related to Forex

That looks about right. Hee hee.

When I first started learning all about trading I saw one Post - don't remember where - with a guy saying: "I finally found the ultimate strategy to be successful in trading: do the exact opposite of what you are suppose to do".

I didn't pay too much attention but my mind brought it up again when I evaluated the spots where I was selling and losing money and buying and losing money. I thought... I will use the exact same rules but instead of buying I will sell and instead of selling I will buy. Results changed dramatically. The only problem was that instead of being a regular loser on those trades now I was a breakeven trader, however that's another story.

That image you showed about fear and greed happens all the time and is true. For me the key is to find your triple A trades but treating them like if they are just ok trades, not putting too much hope. I know this goes against everything people say about R:R and stuff, but if you manage to do that you'll end up having a very high success than those thinking only in terms of R:R but maybe only hitting 20% success.

It takes time but there are multiple techniques for the mind... the mindset as they call it.

Greed and fear... why not trade them both? Ask yourself that question. Can I trade fear and greed at the same time? Not with those names of course, but the point is: I will bank a reasonable amount of pips from my triple A trades no matter the distance I expect price to travel, but I will also leave a second soldier fighting the battle. If you had no fear you would leave your whole position expecting to hit target... but what about if it doesn't and in turn gets back to your entry? And, in the bright side.. what about you had fear and closed the whole position but price finally went to the spot you had originally determine?

my thoughts, if I may, if you don't mind:

I must first do something, in order to then do the exact opposite of it.
1. analyze graphs and charts and figures until you feel fatigued and confused.
2. internalize these things
3. now I can do the opposite of analyzing and computing, and just read the charts.

This is because the markets can be deceptive sometimes, you read the market to be bullish but then it goes bearish on you. Just wondering why you want to train yourself to read the markets one way but then in the end discard all that analysis and go against your previous judgement. Why not just read the market correctly and trade in the same direction of your thoughts?

trade fear and greed(hope) in the right locations..

From Reminiscences of a Stock Operator:
The speculator's chief enemies are always boring from
within. It is inseparable from human nature to hope and to fear.
In speculation when the market goes against you -- you hope that
every day will be the last day and you lose more than you should
had you not listened to hope -- to the same ally that is so
potent a success-bringer to empire builders and pioneers, big
and little. And when the market goes your way you become fearful
that the next day will take away your profit, and you get out
too soon. Fear keeps you from making as much money as you ought
to. The successful trader has to fight these two deep-seated
instincts. He has to reverse what you might call his natural
impulses. Instead of hoping he must fear; instead of fearing he
must hope. He must fear that his loss may develop into a much
bigger loss, and hope that his profit may become a big profit.
It is absolutely wrong to gamble in stocks the way the average
man does.

Reminiscences is one of my favorite books too and the passage you mention is very nice, I think that is one of those ocations when the whole market had one sentiment and Livermore started to behave differently.

My all time favorite Livermore's quote is this (you don't find it in his famous quotes, don't know why, you have to read the book to find it): The only thing to do when a person is wrong is to be right, by ceasing to be wrong.

I didn't explain my thoughts very well, must be honest. I was not trying to say that you are going to analyze the market one way to enter the opposite order sistematically. Is more about changing the way you see the market, to analyze why you bought in those ocasions and ended up losing money. Overbought not necessarily means overbought but a zone to START buying. Have you guys noticed that sometimes the stop loss gets hit faster than price starting to go in our favor? I'ts good to think about it.

One of the persons that explain this better is Markus Heitkoetter, I recommend searching him on youtube or in his personal website and read his story.

And about fear and greed, well, every person has a personal opinion. I personally am aligned with a thought of not having too tight stop losses. What I do is simple, I define an imaginary line that satisfies all my entry rules and I buy or sell but only in my mind and I also define a stoploss. 30% of the times that really was a good entry and I should had taken it, but 70% of the times price continued to travel further and is in those moments where some traders hesitate and stop thinking is a good entry, however they still hope that price returns in their favor so they can at least close the trade at BE.

When my mental stop loss gets hit now I really am 50/50: price will return and save early traders butts or it will travel even further and burn all of their stops. But in the latter I am in the position of saving my own butt with greater odds than the rest, after all, everything that goes up must come down eventually, right? Everthing needs to recover its balance. Price exhaust at certain point and provides those consolidations or retracements at the end of heavy activity. I am an intraday trader by the way, some of these concepts won't make sense to those trading daily charts.

Maybe be I have an alien mentality but for me I see it in a completely different way, meaning if it's down I'm gonna buy it since it's already on sale ( like I'm doing when levis store announces a sale, I go buy a pair of jeans even if I don't need it at the time, just because it's on sale ) and vice versa when something price goes up ( I buy another pre workout for the gym if the e.g. MusclePharm pre workout price gets higher or even eating some carbs if I can't afford it ) ...

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