Menu

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

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

strategy builder/tester for new scalping strategy 1 reply

1M & 5M Scalping System (Scalping Paradise) 21 replies

Reversals vs. CounterTrend Trade 28 replies

CounterTrend Trading 58 replies

Attachments: M1 Countertrend Scalping Strategy
Exit Attachments

M1 Countertrend Scalping Strategy

Quoting chhico
{image}Double top..it's time to take my profit.... no price action and volume reading no party... this is what I would like ypu to understand..
nice profit and thanks again for sharing

holding as it fell below ema50 is curious though, and i don't understand "no price action and volume reading no party" - based on the image you posted it wasn't a double top and volume was still high - not saying there was anything wrong with it - did you just "feel it" or were there other reasons?
every minute matters!
Quoting Olarion1975
{quote}All live traders that followed his entries last Friday are f$cked...
again, another assumption!!! the situation is still well and truly survivable for those that used appropriate lot sizes and exercised excellent money management skills - a quick look at the 1 hour chart for eurusd shows potential for a return to ema200 which would easily provide a break even or profit opportunity, and because they are short positions, plenty of swaps to sweeten the deal!

its a tough ask i know, but its a tough job
every minute matters!
Another forex victim...
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 439 KB
Quoting niks
{quote} nice profit and thanks again for sharing holding as it fell below ema50 is curious though, and i don't understand "no price action and volume reading no party" - based on the image you posted it wasn't a double top and volume was still high - not saying there was anything wrong with it - did you just "feel it" or were there other reasons?
I kept positions open when price reached ema50 for 2 reasons: 1- price was at the bottom of a consolidation phase...
2- ema 200 came very close to the 50ema so I switched my SL to 200ema.

I closed because on the first top volume was decrasing a little and when price reached it again I was quite sure that price would have retrace. So there you have to close and sell immediately and rebuy again aiming a new high...
Attached Image (click to enlarge)
Click to Enlarge Name: f.PNG Size: 23 KB

Look at this uptrend.. price is riding up while volume is going down.. where do you think price will go?
Will the 7th Trade be the negative trade ???
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 462 KB
Quoting chhico
{quote} I kept positions open when price reached ema50 for 2 reasons: 1- price was at the bottom of a consolidation phase... 2- ema 200 came very close to the 50ema so I switched my SL to 200ema. I closed because on the first top volume was decrasing a little and when price reached it again I was quite sure that price would have retrace. So there you have to close and sell immediately and rebuy again aiming a new high...
very well done... may i ask if you re-entered to continue following the trend after closing and how that went if you did?
every minute matters!
Ouch..........
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 467 KB
  • #1,349
  • Quote
  • Edited 6:25am Jan 10, 2023 6:07am | Edited 6:25am
Quoting chhico
{image} Look at this uptrend.. price is riding up while volume is going down.. where do you think price will go?
thanks for the quiz! i guessed down before taking a closer look at your orders... very nice trade and profit!!! i use volume as much as i can but still have not fully grasped it, you understand it very well

actually, i think i see it now, you detected the weakness in the uptrend as it crossed ema200 and the volume going down was a sign that it ran out of steam?
every minute matters!
Attached Image (click to enlarge)
Click to Enlarge Name: h.PNG Size: 21 KB

and that's it.. great time to reach emas and TP taken
A small recovery - scorecard 7 winners and 1 loss, so far.
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 466 KB
Quoting niks
{quote} very well done... may i ask if you re-entered to continue following the trend after closing and how that went if you did?
After that profit I quitted my trading day because I was busy... But I would have sold immediately til the 50ema and re-entered long aiming for a new HH.
I Just finished reading the entire thread and i like all the shared info with this counter trend strategy. thank you abade all other contributors
Another winner...
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 492 KB
9 winners and 1 loss so far, EA is working great.
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 435 KB
Attached Image (click to enlarge)
Click to Enlarge Name: i.PNG Size: 32 KB

Let's where it wants to go
chhico,
nice trades, soon a live account and then the fun begins.
cpfleger
Quoting niks
{quote} thanks for the quiz! i guessed down before taking a closer look at your orders... very nice trade and profit!!! i use volume as much as i can but still have not fully grasped it, you understand it very well actually, i think i see it now, you detected the weakness in the uptrend as it crossed ema200 and the volume going down was a sign that it ran out of steam?
Start with simple things... price needs high volume to move.. movements with low volume are fakes...
Attached Image (click to enlarge)
Click to Enlarge Name: a.PNG Size: 22 KB

closed with a slight profit on the ema20 due to difficulties at the top of the movement
Quoting cpfleger
chhico, nice trades, soon a live account and then the fun begins. cpfleger
I am already on a live account.. I am a FTMO trader from some months... Waiting for you to start with your system's variation
10 traders viewing now, 4 are members:
Daddyof41680
,
Aromos
,
Arsu111
,
axelgr