I was reminded by a couple of posts browsing the forum recently. One was a pic of an old explainer of the Xard system and the other was a pic of retail client sentiment of the USDJPY.
I have written on this topic before but it always needs repeating.
All this year USDJPY has been in an uptrend and all this year retail traders have been net short. Just let that sink in. Retail traders constantly getting stopped out but never tiring of reloading their shorts (untill the account's blown).
Why do they do it? Because they're always looking for the big reversal - that's where the big money is innit.
The chances of getting that big reversal are probably less then 5%. The chances of retail traders blowing up their account is probably around 95%
BTFD is still tricky, not getting caught up in sideways action is always a problem (hence wait for the second (conformational) dot rule). But generally you will have a better chance of success with this method than trying to second guess the market trying to pick major reversal points.
