M1 Countertrend Scalping Strategy

Quoting cpfleger

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Abade, Thanks for allowing me to participate in your post and I feel too many people are trying to change your original purpose of this post, so I will go back into my retirement home but I leave you with my daily Report, take care, power to performance. cpfleger {image}

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Quoting Abade

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{quote} Nice trades RieseP! Some users are too afraid of getting a few losers from a breakout. The important thing is to catch the turning points back to the EMAs and you will make profits: {image} Look at this awesome performance from cpfleger: {image} You need patience to learn and un-learn.

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Quoting Abade

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{quote} Hi gerval! This looks like a VERY tough trend you got trapped into: {image} In my experience EURAUD (AUD in general) is very hard to trade using countertrend strategies, so you should stick to EURUSD and GBPUSD (or even GER-30)for now. They give enough trades to test daily. Look at the EURUSD M1 for the same period: {image} Looks much more manageable doesn't it? Truth is that some pairs chop better than others. I would never counter-trade GBPJPY for example! That'd be crazy. Anyways, if you get trapped in a huge lean breakout, you have to...

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Quoting Abade

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{quote} "This is what I'm talking about, traders!" got in my head as well. Also: "The market is moving just as I predicted" . I believe KoF is a bit narcissistic and reckless, but his approach is worth studying for sure. Have not tried any of the paid courses, but his free videos on YouTube are good enough to understand the basic premise of his strategy. He also has a lot of live videos without a single losing day (that's remarkable). I agree that it can be dangerous for new traders that don't know how leverage or cost averaging works, but...

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Quoting cliffjaded

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{quote} EURAUD and GBPJPY are more suitable for a 1% kind of strategy. But that is for another thread. This thread is all about mean reversion, baby. I would increase the position size after 8-10 trades additively - 0.01, 0.02, 0.03. I would just be going for break even at that point, or even a small loss. I might even consider closing orders separately.

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Quoting cliffjaded

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{quote} I'm just tentatively using 100 EMA because it's simple. More of a proof of concept. I'm more interested in stress-testing when that dreaded runaway trend occurs. I'm looking to include both shorter and longer term MAs to have more dynamic targeting. Going to study @cpfleger's RSI method as well. Thinking of ditching Heiken Ashi. While I like it, i really prefer to see standard OHLC candles so that i can gauge possible exhaustion and have price match the candle formation. Heiken Ashi can trick the eyes sometimes. Maybe a MA/RSI coloured candle...

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Quoting cpfleger

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The only ex Rocket Engineer has left the building.... {image}

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Quoting EurTrender

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Hi All, I'm having trouble finding the RSI Div indicator many are using here. Would someone be kind enough to share and or template? Thanks!

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Quoting charli86

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Closed in small profit 2 positions, one position running target 17000, just trying BTC live small money...I hope Abade doesn`t mind if I share it here because deviated a bit from your original strategy. By the way,nzdcad from my previous post played well today, closed two one was running nicely, even I've got wti(but be, unfortunately. due to mistake BE).KOF rules .And thank you all guys to bring this to life....

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Quoting cliffjaded

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Yeah, the way KOF does he just fires off multiple trades at the same price level instead of add to the lot size. The way he blasts 1 lot averaging orders gives me serious anxiety lolx. I also know he uses the 9EMA crossing the averaging order to open the next averaging order which is a pretty smart thing to do. I prefer using 8EMA because i've always classically used it to gauge short term momentum on any timeframe but i'm being nitpicky here. Also, I don't use a hard stop myself. Just floating that people may consider it if you are really getting...

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Quoting Abade

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{quote} Thanks for sharing these tools my friend, you are in the right path! I'd say that trading at least 200 setups in a single instrument is enough to reach some degree of statistical significance and personal confidence with the strategy. The KoF always uses big accounts and big lots to attract more people, but the actual risk to the account isn't that big. For example, he could make $5000 USD in a $100,000 account in single week, that's only a 5% gain so the max DD is about the same range, even if he is using full lots (1.0). The ultimate goal...

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Quoting RieseP

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{quote} I would happily make 7-10% ROI a month with less stress in DD than massive ROI but trading on edge. Consistency is the key. Capital preservation is highly important Just short of 1% today {image}

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Quoting Abade

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{quote} Amazing RieseP! That's how it's done {image} You are trading pure pivot rejection for entries right?

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Quoting RieseP

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{quote} Thats correct or close to pivots. so you can get mutiple entries. I also look at round numbers close to the pivots. the way I see them is traffic lights. You can drive fast as you like but you should stop at a red ight. that doesn always happen but where you need to find pairs that respect pivots more than others. same with finding ranging markets. Take the DAX for instance. Today it has respected the pivots numerous of times. Secondly its worth marking the High and Low of the previous day. If pivots are too wide. then do a Fib retracement...

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