M1 Countertrend Scalping Strategy

Hello
at what level you will close your orders or % if the market goes against your orders

Dear respected cpfleger -- Could you please explain in detail, how this strategy works? I have put my head on with all those explanations but really can't understand a strategy with no Stop Loss. Is there any video (possibly on YouTube), if you kindly share the link of the same, that will be appreciated? I don't see any money management techniques in case one ends up in suicide with this strategy. Regards!!

My attempt with demo account.

 

1. EURUSD M1
2. Heiken Ashi
3. 100 EMA
4. 0.01 lots / $1000 balance

For now, just messing around. Everytime price moves in my favour, I can't help but hear KOF's voice in my head saying "This is what I'm talking about, traders!"

playing with kof approach...

Possibly strong to go to the 50 EMA, but testing the system and watching.

I recently started watching his videos, exactly, his voice is in my head when placing trades ...And this "unlearn everything"

Hey Abade, thanks for your insight. It wasn't my intention to attempt to mechanise the KOF strategy but rather get people to think of it as a system with moving parts rather than just focus on the averaging part. I'm not sure what's revealed in the paid strategy, but if you just view his livestreams, it can really gaslight newbies into doing some suicidal stuff especially with his 1 lot averaging orders. He doesn't go into detail about what triggers him to pile on the averaging orders at certain price. He just follows up with "this is what I'm talking about, traders!" which always makes me laugh. But he's smashing the market so who am I to criticise?

In the same manner that you and cpfleger have made your own tweaks, I was suggesting certain ideas for people to brainstorm. Actually, the simple idea of having multiple moving averages for different dynamic targets is refreshing yet logical.

I am surprised that alot of people do not simply watch KoF Video's, listen and learn about an old trading system called Moving Averages. As I stated earlier, we have used Moving Averages in NASA since the 60's, there is nothing new under the sun. They lag yes sir, but they are not really lines in the sand, they are Zones and due to people not understanding this simple factoid, they get frustrated and start finding fault with a 60 year old concept which is used by all Banks and Hedge Fund Traders, just look at their Charts, yes that's a 200 and 50 EMA on their charts, nothing new.

So Moving Averages act as support and resistance, nothing new either and they act as Targets to which the Trader uses as temporary targets of profit or loss. There is nothing really pretty about 4 EMA's either, but they work as long as the Human Being accepts a few facts, especially all Instrument price will eventually return to the median, mathematical factoid. The Human Being is the weak link and not any system or set of Indicators because they are designed from mathematics. But the real kicker is the Market is made up of human emotions and beliefs which leads to variance and most people cannot accept this little factoid and blame the system (indicators).

I have stated earlier, to watch the RSI to prepare for a pullback (countertrend trade), use the 20 EMA as the learning Target, close the trade and repeat again, once your performance hits over 90% you are on the road to success, as performance is King. Watch KoF Video's and quit looking for the Holy Grail because its YOU.

I have attached my first attempt at trading GE 30 with alot of patience (which you must learn and not from other including me) and even after a drawdown of of almost 75 pips, patience paid off and returned 4 winners, simply put what is your risk tolerance as mine is high, have a great Mondsay.

I apologize for my writing errors also, big fingers and small keyboard and I am old...

Watch and learn... quit chasing the Money or Lambo, learn to the master the process..

Opportunities are everywhere, just look...

Performance is King...

This is the problem that can appear and solve.

Pick a Pair and make some Pips...

gerval,
your targets are too big, you have not mastered the 20 EMA Target yet, zoom inwards and watch the Candle after Step 1 of the RSI. Never blame your tools....
cpfleger

Counter-Trend to Pro-Trend Averaging and closed out successfully. Another Mean Reversion play in progress.

P.S. If anyone is wondering why there's a 0.12 lot buy stop above, it's because I left work and was unable to monitor the basket of trades. So in case price started trending up, i place a protective hedge of equal size to the basket.

Another basket exited. A little tired since I just came back from work. Going to take a shower first!

I should add that I started averaging with 0.02 lots for the first basket when price reached the top. Decided to be a bit risky as the trend was taking off and I was afraid when it eventually reverted to the mean, there might not be enough profit to cover the losing trades. Still, global risk was at max 1.1% (-$11) with a total profit of $9.25 (0.9%). Not too shabby.

It's not earth shattering returns but it does beat getting stopped out constantly and revenge trading your ass off.

In the first entry it did not touch the EMA20, so I had to re-open another trade.
I do not blame the tools, these are just situations that can happen no matter what tools you use.
As for the goal of not reaching breakeven either, I have to go looking to close with as few losses as possible.

You hit the 20 EMA Red Line 3 times, see attachment.

If he hits in a second entry, but since the sum of the two is at a loss, I leave it in case it goes down a little more and he takes me out with some benefit or BE. I understand that I would have closed the operation or operations even losing a little when touching the EMA20?