encryptedehs,
Or take half off at 100 and close the remaining at 200 IF the Market feels right.
cpfleger
Or take half off at 100 and close the remaining at 200 IF the Market feels right.
cpfleger
2
M1 Countertrend Scalping Strategy
- #6,003
- Jun 2, 2023 11:08am Jun 2, 2023 11:08am
So, for these past days I've been doing some trading off the ideas I've been seeing here. I wanted to do something I was already familiar with so I've been using a zigzag / semafor (not visible in the chart), when price was overextending I would start entering and targetting somewhere around the 50% of the swing. When it didn't, I would average in, but spacing my orders decently to avoid overtrading. For a few days it worked better than I expected, and drawdown was minimal. Total so far was +1.9%~ (I'm very conservative). When price didn't stop...
. But, on the bright side, I now know that this is the worst that can happen. This is a 5min for reference, been battling since yesterday 
.
So, with the -2% we're slightly below the starting point. But this doesn't seem to happen often. Because it's really like 2 losses in a row (I consider the -1% as the first loss, it's just that I hedge it so that I make the most out of it it price ends up reversing). I'll keep trying again. Ideally I'd like to get to +3~4% total before the next loss. And yes, I'm expecting these losses due to runaway markets to happen! It's part of the game, I just expect to catch more profits in between these losses to end up positive. Like, punch 3 times, get punched twice, punch 3-4 times, get punched twice, the important thing is to NOT get knocked out
!
- #6,006
- Jun 2, 2023 2:58pm Jun 2, 2023 2:58pm
I woke up around 8am (1800 MT$ time) and looked at the charts and saw it still had some more to go before I was in profit overall. So I went back to bed. Around 11am (2100 MT4) I was actually at the laptop looking at the chart. It was a hair above .6600 and I was $2 in profit overall. I thought I could jump out here and be green $2. But I went through the timeframes and anything above 5M the 200 EMA was well into profit for all my trades. So I thought it could get to at least .6600 or below in 2 hours. Well now it's about 1 hour until weekend close. If it doesn't get to .6600 by then I'm riding it over the weekend. YEEHAW!
Arrow is when I was thinking of getting out around 11am my time, red line is .6600:
Here's the 200 EMA on 15M:
and back the 5 min zoomed out:
Arrow is when I was thinking of getting out around 11am my time, red line is .6600:
Here's the 200 EMA on 15M:
and back the 5 min zoomed out:
- #6,007
- Jun 2, 2023 4:06pm Jun 2, 2023 4:06pm
Looks like I'm in it for the weekend! I was about to jump out at 4 minutes to market close with about $1.50 in profit (or so I thought) but it started getting wonky in the last couple minutes. I thought it was going to be a last ditch pump and dump. Then I was going to accept a approximate $0.45 loss at 2 minutes to close as price stalled. I guess clocks aren't exactly synced as I got "market halted" warnings when trying to close at the 58 minute mark. I wish the MT4 info update wasn't based on orders coming and going as the candle counter just freezes if there are no ticks.
Anyway, here's where I stand over the weekend. Close up and zoomed out:
Anyway, here's where I stand over the weekend. Close up and zoomed out:
- #6,008
- Edited Jun 3, 2023 3:22pm Jun 2, 2023 4:30pm | Edited Jun 3, 2023 3:22pm
- Joined Sep 2012 | Status: AlgoTrader | 3,610 Posts
{ virus risk deleted by staff }
This system has its own rules for working with a trend, as well as rules for working with a flat.
The settings are attached to the message (compressed file (.rar) - unpack WinRAR and open the file "Screenshot.jpg"
The screenshot shows the main inputs associated with TMA.
We will talk about scalping on minute charts (M1), one of the most difficult ways to trade forex.
The Scalp Inc system is focused on working with different types of markets, because all of you are probably familiar with the situation when a strategy that trades well in a trend shows weak or negative results on a flat. The same strategy has separate rules for various market conditions in advance. That is, we will immediately try to determine what we have in the market - a trend or a flat, and then we will apply the rules that are suitable specifically for the current situation.
Different types of market behavior require a different approach to trading. According to statistics, 70% of the time the market is in a state of flat.
Flat entry rules
First, we need to determine if the market is currently flat. It is quite simple to do this, since most of the time we see exactly the plane. If the TMA channel does not have a clear direction, the market is likely to be flat. Also, if the price is between the dotted lines of the TMA channel on the M5 chart, then most likely we will see a flat on M1.
Bai entrance:
The blue line of the SSRC indicator is below -0.95;
The yellow line of the SSRC indicator is at the bottom (ideally, an upward reversal begins);
The price is between the lower boundaries of the FL01-FL02 channels (ideally, the price has touched or gone beyond the FL02 boundaries);
A signal appeared on the chart in the form of a yellow star (ideally with a blue halo).
Cell entrance:
The blue line of the SSRC indicator is above the level of 0.95;
The yellow line of the SSRC indicator is at the top (ideally starting a downward reversal);
The price is between the upper borders of the FL01-FL02 channels (ideally, the price touched or went beyond the FL02 borders);
A signal appeared on the chart in the form of a yellow star (ideally with a red halo).
{ virus risk deleted by staff }
This system has its own rules for working with a trend, as well as rules for working with a flat.
The settings are attached to the message (compressed file (.rar) - unpack WinRAR and open the file "Screenshot.jpg"
The screenshot shows the main inputs associated with TMA.
We will talk about scalping on minute charts (M1), one of the most difficult ways to trade forex.
The Scalp Inc system is focused on working with different types of markets, because all of you are probably familiar with the situation when a strategy that trades well in a trend shows weak or negative results on a flat. The same strategy has separate rules for various market conditions in advance. That is, we will immediately try to determine what we have in the market - a trend or a flat, and then we will apply the rules that are suitable specifically for the current situation.
Different types of market behavior require a different approach to trading. According to statistics, 70% of the time the market is in a state of flat.
Flat entry rules
First, we need to determine if the market is currently flat. It is quite simple to do this, since most of the time we see exactly the plane. If the TMA channel does not have a clear direction, the market is likely to be flat. Also, if the price is between the dotted lines of the TMA channel on the M5 chart, then most likely we will see a flat on M1.
Bai entrance:
The blue line of the SSRC indicator is below -0.95;
The yellow line of the SSRC indicator is at the bottom (ideally, an upward reversal begins);
The price is between the lower boundaries of the FL01-FL02 channels (ideally, the price has touched or gone beyond the FL02 boundaries);
A signal appeared on the chart in the form of a yellow star (ideally with a blue halo).
Cell entrance:
The blue line of the SSRC indicator is above the level of 0.95;
The yellow line of the SSRC indicator is at the top (ideally starting a downward reversal);
The price is between the upper borders of the FL01-FL02 channels (ideally, the price touched or went beyond the FL02 borders);
A signal appeared on the chart in the form of a yellow star (ideally with a red halo).
{ virus risk deleted by staff }
No guts, no glory
- #6,009
- Jun 2, 2023 8:22pm Jun 2, 2023 8:22pm
- Joined Dec 2022 | Status: Trader | 3,228 Posts
every minute matters!
- #6,010
- Jun 2, 2023 8:40pm Jun 2, 2023 8:40pm
- Joined Dec 2022 | Status: Trader | 3,228 Posts
every minute matters!
- #6,011
- Jun 2, 2023 9:04pm Jun 2, 2023 9:04pm
- Joined Sep 2013 | Status: Trader | 25,137 Posts
my favorite indie ,
people leave, but this thread will go on for ever
- #6,013
- Jun 2, 2023 10:47pm Jun 2, 2023 10:47pm
- Joined Mar 2023 | Status: Trader | 1,007 Posts
without patience how can you be a trader?
- #6,015
- Jun 2, 2023 11:57pm Jun 2, 2023 11:57pm
- Joined Sep 2013 | Status: Trader | 25,137 Posts
people leave, but this thread will go on for ever
- #6,016
- Jun 3, 2023 1:52am Jun 3, 2023 1:52am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
every minute matters!
