I know a trader from Koweït who is also counter trending but in swing trading without stop loss, not scalping or daytrading. For CADJPY, he opened only two sell positions 1) 84.84 and 2) 85.86 for an average price of 85.34. He has also an important exposure on EURAUD, he bought at 1) 1.5956 and 2) 1.5755 for an average price of 1.5854 and he waits...sometimes during 1 year ! That was the case with EURCHF (long positions) with an average price of 1,0850 and it is only recently that the price went over this price with a peak at 1,1150.You don’t understand my trade, you don’t always need to look for dirty tricks. The fact that I voiced all the transactions worked out, but the fact that I have transactions hanging is my business.
There are mid-term deals that I am not disclosing here. Short-term trades are closed, fixed the profit, you took it away, you do not take it into account.
Therefore I believe this is not a stupid strategy to bet counter trending but opening a lot of positions over a small timeframe is dangerous and the drawdown can become enormous.
The person in question made 15% in 2020, 18% in 2019, 35,5% in 2018 which is for me a very good performance, and it is real money not demo.