It is in our human nature to follow the herd. Because our brain is engrained to be a follower, we always seek groups and crowds to help us in our survival. That is the reason why a trend keeps on trending and why new comers in any walks of life seek groups to help them. It is true in forex trading, we want to follow gurus, trends, priests, leaders and crowd to decide our trade and sometimes our fate. But humans have evolved far better than that. Our brains are larger now and are capable of thinking for ourselves. There are no more sabertooth tigers to eat us if we are left alone. On the contrary, being left alone could mean the birth of creativity and innovation.
Contrarians think for themselves. Not in a selfish way. But more of a philosophical way. They view the world in their own eyes without being affected by other’s opinions. No matter who is the opinion giver. In trading, a contrarian trader will decide where is the reversal point. He will bet against the prevailing trend and eventhough he gets hit a lot of times, he will enter the same position again and again until he is proven right.
In that regard, contrarians have the courage to follow their heart. Not only did they have their own world view, but they have the courage to follow that world view. You will get hit. A lot of times. Accumulate losses, get criticized, go bankrupt, humiliated, but until that world view becomes false in your eyes, you know you have to keep on fighting. It is liberating to fight for what you believe in. And I think forex allows contrarian to express themselves and profit immensely at the same time.
Contrarians are expressive. Forex trading, stock trading and making money for contrarians is not about money. Its about sending a message. Kind of like the Joker in Dark Knight. Most of the contrarians I know doesn’t really care much about money, its about sending a message either thru donating to charity, changing the world, innovating technology or blowing the whistle. And I aspire to be like them. Its freeing to the mind and soul to not be attached to money. To smile at its lost and its gain.