Sometimes there are two opposing sides to a trade and this post from July 2013 shows that even differing views can both be profitable
That’s one of the good things about this game. Everyone can be right and everyone can be wrong at the same time.
Case in point;
Earlier today I posted a piece on the yen and mainly focused on GBP/JPY.
Yen pairs following the Nikkei down the chute – technical analysis
I’m not here to crow about picking the bottom at 148.28 as this was one of many levels above and below that could have held or broken. My focus is the comments that came with the post.
Now I’m not pulling Peter and Tiong out for anything wrong as they are both respected readers (as are you all), but I want to highlight how differing opinions can both be right.
If Tiong (or anyone else) had taken a long on the level (148.28) he’d be nearly 100 pips in the money.
Peter, on the other hand, may have been short into the level and may see a continuation of the trend lower.
In both circumstances they could be (or are) making money on their respective positions while holding differing views on the market.
Trading is not about whether one person is right while another is wrong, it’s about believing in your own ability and strategy, whether a scalper or a long term trendy, and letting that come through in your trading.
