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Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

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Attachments: M1 Countertrend Scalping Strategy
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M1 Countertrend Scalping Strategy

This might sound abit crazy. But I wonder if your could apply a hedge x3 the original position to B/E? Or is this too risky?
Quoting RieseP
This might sound abit crazy. But I wonder if your could apply a hedge x3 the original position to B/E? Or is this too risky?
That's worth testing. You could re-try the same move in the simulator https://www.fxblue.com/appstore/49/m...ding-simulator. Although, you'd have to wait until the next day starts in the platform as the backtester cannot load the current day until it has ended (weird limitation, I know).

Nevertheless, there are a lot of tough moves we could try, here is a recent account killer in GBPUSD (December 15th 2022):

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Quoting josh1111
{quote} Yes I am following him directly and getting mopped up so far. Today would have been a better day for the 1% strategy.{image}
hey josh, you are 25% drawdown but only 30 pips from first entry, that is simply unsustainable

i've just skimmed through the replay as i missed it live...

i think that there were opportunities for those who wanted to take quick profits and he said the trades he took were targeting long profits, not necessarily a scalp, each trader to their own

and he certainly made correct calls on the other pairs he was analysing while juggling his own trades

when trading, every single day, day in day out, you will encounter EVERY situation imaginable plus those you couldn't imagine, a true professional will deal with every situation accordingly including this one that should not be judged until the end, sure, he may be using a demo account, but his reputation is still on the line every time he goes live regardless

anyway, my point is, i've got no idea who KoF is, but he has placed me on the right path to success for sure!

so i think this, plus his other seven hour live stream are the two most important for people learning this system to watch over and over

edit: be sure to place those TP's!, and btw, swaps go your way for a sell
every minute matters!
Quoting niks
{quote} hey josh, you are 25% drawdown but only 30 pips from first entry, that is simply unsustainable i've just skimmed through the replay as i missed it live... i think that there were opportunities for those who wanted to take quick profits and he said the trades he took were targeting long profits, not necessarily a scalp, each trader to their own and he certainly made correct calls on the other pairs he was analysing while juggling his own trades when trading, every single day, day in day out, you will encounter EVERY situation imaginable plus...
really? LOL! Go trade with real money and you will know this strategy doesnt work. Good luck
Quoting mario777
{quote} really? LOL! Go trade with real money and you will know this strategy doesnt work. Good luck
so you blew your account did you?! tell us all about it and we might see where it went wrong for you...
every minute matters!
Quoting mario777
{quote} really? LOL! Go trade with real money and you will know this strategy doesnt work. Good luck
Hi, I have been using this strategy for many years and I agree with you that it is very risky. You need to have good money management otherwise, looking at yesterday's charts, it's easy to lose all the money in your accounts. In my opinion there are two ways not to lose money, the first is to open orders with high lot and withdraw every time after doubling the account; the second way is the one advised by Abade to open with a lot of 0.01 for every $1,000. Another tip is to not open too many orders in too small a price space.
Quoting polindo
{quote} Hi, I have been using this strategy for many years and I agree with you that it is very risky. You need to have good money management otherwise, looking at yesterday's charts, it's easy to lose all the money in your accounts. In my opinion there are two ways not to lose money, the first is to open orders with high lot and withdraw every time after doubling the account; the second way is the one advised by Abade to open with a lot of 0.01 for every $1,000. Another tip is to not open too many orders in too small a price space.
And another one, needs some research in own trading history. If you can or will say trade every single trade with 0.1 lot. Make this sense if you fail with your first entry around 80%? You can start with less, and increase after a well defined plan this will reduce your risk to your favor. Need less move if price go more against you to have win or break even. This style of trading needs in first stage a awesome money management if not you sink very fast. If you have 1000 bucks and trade with 0.1 lot you can not surf for long.
Please notice that you also must not see alone the ema without any further analysis. Daily?

I made 50% in last couple of weeks using it, with some confirmations on higher time frames. The entry self is anticipate the things happen on what will come on the higher view. Every new move go through the countertrend first. Say if you trade classical formations will work, but you far to late and must have mu h more move. In this time it happen I have in good time hours ago finished my Trading. Other must sit out for longer time.
Market is more simple as you think.
Quoting polindo
{quote} Hi, I have been using this strategy for many years and I agree with you that it is very risky. You need to have good money management otherwise, looking at yesterday's charts, it's easy to lose all the money in your accounts. In my opinion there are two ways not to lose money, the first is to open orders with high lot and withdraw every time after doubling the account; the second way is the one advised by Abade to open with a lot of 0.01 for every $1,000. Another tip is to not open too many orders in too small a price space.
hi, they are excellent tips, as simple as the strategy appears, there are many details to consider to make it successful, people tend to forget the HIGH RISK part of high risk\high reward strategies at their peril...

however, i will disagree with your opinion and say there are many ways to lose money, but the ONLY way not to lose money is to know what your doing and continue learning it
every minute matters!
Quoting Abade
{quote} You could re-try the same move in the simulator https://www.fxblue.com/appstore/49/m...ding-simulator.
thanks for the link to this excellent simulator Abade, it works very well! The only limitation is in MT5 because indicators can't be added to the visual tester chart, but that's ok, i feel like KoF trading the raw chart!
every minute matters!
Quoting niks
{quote} thanks for the link to this excellent simulator Abade, it works very well! The only limitation is in MT5 because indicators can't be added to the visual tester chart, but that's ok, i feel like KoF trading the raw chart!
My friend, you can backtest any combination of indicators you want in MT5 by saving the template as "Tester", that's how I do it:

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There is also a MT4 version: https://www.fxblue.com/appstore/39/m...ding-simulator so it's possible to backtest Cpfleger's approach as well.

You can speed-up the backtest by holding the F12 key (much faster action than demo).
Quoting Abade
{quote} My friend, you can backtest any combination of indicators you want in MT5 by saving the template as "Tester", that's how I do it: {image} There is also a MT4 version: https://www.fxblue.com/appstore/39/m...ding-simulator so it's possible to backtest Cpfleger's approach as well. You can speed-up the backtest by holding the F12 key (much faster action than demo).
thanks mate, we learn something new every day! If i get a chance i'll replay that tough move on gbpusd you posted above and see if i get stuck in it!
every minute matters!
Quoting niks
{quote} thanks mate, we learn something new every day! If i get a chance i'll replay that tough move on gbpusd you posted above and see if i get stuck in it!
Glad to help!

I think it's one of the toughest moves I could find, price hasn't returned to the same level yet.
Motivational time...
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Continuation...
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Dreams...
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Happy New Year....enjoy.
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Clean, simple and manage those risks....
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Nice and clean indeed ... and no more volume?
veni vidi vici
mansan,
yes, lets just focus on making money in 2023, 11 months to go.
cpfleger
What happened on last Friday is exactly what I was talking about in my last reply (ignored by the majority of you because no one likes to hear the truth). The power of the strategy is to understand when to trade ranges and when to trade trends. For me friday was a great trading day bacause of the upward movement on EU and KOF also would have been buying and not selling for so long, but he has to take these risky trades only to show you how the basic strategy works. To survive using only the basic version you have to use ridicoulus leverage, in this way you'll keep your margin safe but your profit will be very poor. Another thing i noticed is that nobody is talking about price action here and none is using volume bias to take advantage (these are key concepts to master to achieve consistency). What I want to remark is again: you simply can't trade in this way only selling and selling and selling or you will lose your money.
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