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M1 Countertrend Scalping Strategy

  • #461
  • Dec 15, 2022 10:54am Dec 15, 2022 10:54am
Quoting cpfleger
josh1111, why you not close on the 20 EMA (red candle)??? This is a game of odds and probabilities - your target is the 20 ema. cpfleger
Do you wait for the close of the candle or just for the wick to touch? Just made some good profits off usdcad I closed on the wick touching ema 20 it ended up actually closing on the 50
  • #462
  • Dec 15, 2022 10:58am Dec 15, 2022 10:58am
I get that just dont know why TP didn't trigger.
Watching EURAUD
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  • #463
  • Dec 15, 2022 11:02am Dec 15, 2022 11:02am
Closed GER30 miss at small loss as I felt price was struggling.
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Closed EURAUD at just above EMA9 for same reason at small profit.
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  • #464
  • Dec 15, 2022 11:10am Dec 15, 2022 11:10am
watching EURUSD
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  • #465
  • Dec 15, 2022 11:15am Dec 15, 2022 11:15am
regarding stop-loss I have a -10% negative balance protection. I take the hit and mean time trymake short small scalps to win back some money in the process. hedging for me gets messy
  • #466
  • Dec 15, 2022 11:17am Dec 15, 2022 11:17am
josh1111,
agree
cpfleger
  • #467
  • Dec 15, 2022 11:17am Dec 15, 2022 11:17am
Placed Buy order
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  • #468
  • Dec 15, 2022 11:22am Dec 15, 2022 11:22am
felt like it was loosing momentum so I closed at EMA9 in profit.
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  • #469
  • Dec 15, 2022 11:24am Dec 15, 2022 11:24am
Watching GER30
  • #470
  • Dec 15, 2022 11:25am Dec 15, 2022 11:25am
Quoting josh1111
Watching GER30
Be careful. It’s flat not a lot volatility.
  • #471
  • Dec 15, 2022 11:31am Dec 15, 2022 11:31am
eurusd paid - thanks josh1111
  • #472
  • Dec 15, 2022 11:34am Dec 15, 2022 11:34am
Quoting Abade
{quote} In this case that would be a terrible idea (price never returned to the hypothetical starting point): {image} That's why I think that long holding periods for short term trades are a terrible idea. I would have used the 200 EMA as a limit in this case, since that's where the pullback happened (exit at a loss). However... (preparing a few more observations).
Hi Abade, from my observation price on that day finished lowest 13090. following day it reached highs of 13240 and the day after 13370. plenty of opportunity to recover loss and even profit.
  • #473
  • Dec 15, 2022 1:08pm Dec 15, 2022 1:08pm
Quoting josh1111
I get that just dont know why TP didn't trigger. Watching EURAUD {image}
My friend, be careful! I wouldn't trust Coinexx or any other unregulated broker, please check these reviews:

https://www.wikifx.com/en/dealer/2911424616.html

https://www.forexpeacearmy.com/forex...#review-157608

Their platforms seem to plagued with these "technical issues", and will deny any profit withdrawal by using these type of excuses, even when it's 100% their fault.

...

BTW you are trading very good, I commend you on your hard work!

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  • #474
  • Dec 15, 2022 1:39pm Dec 15, 2022 1:39pm
Thanks for the positivity and input Abade.
What Broker do you suggest for a US citizens?
Are you in the US?
Also you are welcome cpfleger hopefully you were more patient than me and took your profits at EMA20.
Thanks
  • #475
  • Dec 15, 2022 1:39pm Dec 15, 2022 1:39pm
Watching EURUSD
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  • #476
  • Dec 15, 2022 1:41pm Dec 15, 2022 1:41pm
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EUR USD currencies are crossing
  • #477
  • Dec 15, 2022 1:47pm Dec 15, 2022 1:47pm
Quoting josh1111
Thanks for the positivity and input Abade. What Broker do you suggest for a US citizens? Are you in the US? Also you are welcome cpfleger hopefully you were more patient than me and took your profits at EMA20. Thanks
Not a US citizen.

I recommend IC Markets and Blueberry Markets, never had any problems with profit withdrawal or execution, just a bit of slippage sometimes.

Hope this helps!
  • #478
  • Dec 15, 2022 1:54pm Dec 15, 2022 1:54pm
This one worked out. +$61


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You are lucky Abade US Citizens are heavily discriminated against by most brokers around the world including the ones you mentioned.
We only have 13 offshore options all of which have some form crap documented on them. The 3 US Brokers limit you to 30:1 leverage.
  • #479
  • Dec 15, 2022 2:02pm Dec 15, 2022 2:02pm
Have lots of green pips and success my friends. I am going on a little voyage.

BTW I closed my XAGUSD trades using the 200 EMA touch on BE (2 wins, one BE and 2 losses). I know from my old research that metals are breakout friendly, so be extra-careful when using cost averaging on them.

Please don't let trend riders take over
  • #480
  • Dec 15, 2022 2:02pm Dec 15, 2022 2:02pm
Quoting josh1111
Thanks for the positivity and input Abade. What Broker do you suggest for a US citizens? Are you in the US? Also you are welcome cpfleger hopefully you were more patient than me and took your profits at EMA20. Thanks
Checkout Cedar FX they have no commissions and tight spreads and you can load and withdraw with crypto. They are valid I've done real withdrawals with them. Works for me because I can use nft/ crypto money and move it around
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