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M1 Countertrend Scalping Strategy

  • #601
  • Dec 21, 2022 6:41am Dec 21, 2022 6:41am
Quoting charli86
{image}
Possible reaching of ema 200, but waiting for NY to settle down.
Make your own rules and stick to it.
  • #602
  • Dec 21, 2022 6:50am Dec 21, 2022 6:50am
Quoting cpfleger
pre setup for a Sell. {image}
Was that also a short at Arrow ?
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every Saint has a past. Every Sinner has a Future
  • #603
  • Dec 21, 2022 6:53am Dec 21, 2022 6:53am
turnip,
I would not take the previous sell due to NO Resistance Box, I trade support and resistance zones first...
cpfleger
  • #604
  • Dec 21, 2022 6:59am Dec 21, 2022 6:59am
Quoting charli86
{quote} Possible reaching of ema 200, but waiting for NY to settle down.
As predicted should be touching ema 200
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Make your own rules and stick to it.
  • #605
  • Dec 21, 2022 7:02am Dec 21, 2022 7:02am
Quoting charli86
{quote} As predicted should be touching ema 200 {image}
On my SCreenshoot blue is ema 250,ema 200 reached,better to stop now
Make your own rules and stick to it.
  • #606
  • Dec 21, 2022 7:31am Dec 21, 2022 7:31am
I have started to refine this system for me to work. Looking back at places where trades could have categorically gone wrong. I am becoming more clincial with trades i take. I have moved to the 5 minute chart.

5 Min Chart
HA Candles
Price has Haulted at a Pivot Point
Overbought/Oversold on Rsi
Candle Confirmation.

This way I can target the 50 ema aswell as the 21ema
  • #607
  • Dec 21, 2022 7:48am Dec 21, 2022 7:48am
Waiting for candlestick confirmation
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  • #608
  • Dec 21, 2022 8:37am Dec 21, 2022 8:37am
KoF live on youtube...
  • #609
  • Dec 21, 2022 9:35am Dec 21, 2022 9:35am
Quoting cpfleger
KoF live on youtube...
Yee haw! Thanks for the input and the KOF LIve heads up.
  • #610
  • Dec 21, 2022 9:48am Dec 21, 2022 9:48am
profit is profit - small, medium or large...
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  • #611
  • Dec 21, 2022 9:49am Dec 21, 2022 9:49am
Quoting charli86
{quote} As predicted should be touching ema 200 {image}
'Just like I predicted, traders!' ~ King of Forex
Leave the Gun, Take the Armani
  • #612
  • Dec 21, 2022 10:03am Dec 21, 2022 10:03am
not everyone can make it in Forex Trading....
  • #613
  • Dec 21, 2022 10:14am Dec 21, 2022 10:14am
Nice opportnuity on Ftse100. markets bit slower today take what you can get
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  • #614
  • Dec 21, 2022 10:53am Dec 21, 2022 10:53am
Quoting cliffjaded
{quote} 'Just like I predicted, traders!' ~ King of Forex
:-)
He’s very good, seems he can enter market in every condition, got really good feeling of the market... As Cpfleger mentions, a lot of stuff is in his videos and i watched a bunch of them almost all ... Do you think his 1% strategy is worth purchasing, i already made refined a system a bit to work for me like RieseP mention above....
Make your own rules and stick to it.
  • #615
  • Dec 21, 2022 11:06am Dec 21, 2022 11:06am
Quoting Abade
{quote} Interesting, the RSI saved you from a bad first entry
Delete the MA's, just run the RSI and wait for a fade.
Stop averaging down but take a quick loss.

Thats a better approach
Trading thin liquidity at the boundary of the charts
  • #616
  • Dec 21, 2022 11:24am Dec 21, 2022 11:24am
Quoting RickM
{quote} Delete the MA's, just run the RSI and wait for a fade. Stop averaging down but take a quick loss. Thats a better approach
Hey RickM! I've followed you and RyuRyu around and even tried the Delta stuff but I couldn't really grasp it. The RSI fade technique is Zoltan/Profitfarmer's, am i right?
Leave the Gun, Take the Armani
  • #617
  • Edited 12:00pm Dec 21, 2022 11:47am | Edited 12:00pm
Quoting cliffjaded
{quote} Hey RickM! I've followed you and RyuRyu around and even tried the Delta stuff but I couldn't really grasp it. The RSI fade technique is Zoltan/Profitfarmer's, am i right?
Zoltan is very experienced in fading the markets with the RSI indicator and one of the best traders I know. Its best to ask him about his strategy rather than me comment about it.

Many experienced traders also fade the M1 chart using an ATR channel indy as well, worth looking at in your spare time..

Myself I like the Starc Indy using Futures volume as signals to fade the markets. However, I mainly trade the trend using volume signals on a DOM most of the time. The Depth of Market is really just a sophisticated Delta Histogram hidden behind beside the Limit order book.
I prefer to trade the 4 second chart using the 58 second chart (market frequency) as a guide for trend or reversal points.

PS.. That Delta stuff is just about understanding market orders - a difficult road to travel with many road bumps ahead.
Trading thin liquidity at the boundary of the charts
  • #618
  • Dec 21, 2022 12:23pm Dec 21, 2022 12:23pm
Quoting cliffjaded
{quote} Hey RickM! I've followed you and RyuRyu around and even tried the Delta stuff but I couldn't really grasp it. The RSI fade technique is Zoltan/Profitfarmer's, am i right?
Yes like RickM said better ask Zoltan about his approach. But. Personally I'm very suspicious about RSI trading. Because:
1. RSI is oscillator. It can show "oversold" for ages (due to math).
2. RSI has fake description. They say it can show oversold and overbought but this is lie. It has no vol data in it's formula and it can't show it.
3. No one can tell me why the heck you all set it to 14? Why not to 17 or to 333? What 14 mean? Have you even read formula used? Do you understand what it really calculates and shows?

So in my opinion RSI, Stoch and any other oscillators are purest bullshit. The only purpose to use it is to make "professional looking chart" to sell something to degen gamblers.

Regarding to moving averages I can't agree with RickM haha. MA at least shows what it shows. It is just shows average price of selected period. That's all. And it has no fake description. BTW ask yourself about MA200 (why 200 I mean, why not 201). This is very funny too, but at least less idiotic than whole RSI.

Stay green
Observer effect
  • #619
  • Dec 21, 2022 1:11pm Dec 21, 2022 1:11pm
If someone is interested, I was watching rsi 60 with levels 31 and 68 on m1 tf, this is an old idea from one trader I can`t remember anymore...Can be a helper...
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Make your own rules and stick to it.
  • #620
  • Dec 21, 2022 7:16pm Dec 21, 2022 7:16pm
buying...
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