M1 Countertrend Scalping Strategy | Page 48 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD

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

  • #941
  • Dec 30, 2022 11:33am Dec 30, 2022 11:33am
Quoting charli86
{quote} No problem Ross, only one needs to be cautious as if the price a bit before cut or very soon after the cut reetest emas setup is not valid, please share observetion as well.. All the best
p.s as price often bounce strongly from there, so might explore that as well
Make your own rules and stick to it.
  • #942
  • Dec 30, 2022 11:37am Dec 30, 2022 11:37am
Quoting josh1111
Getting closer to flipping this DEMO account.{image}
Gogogo Josh1111!!

Quoting Mirel85
sorry but what is the original strategy
Mirel85, we are discussing the "basic" part of the EMA strategy, you can find the "The full EMA strategy by King of Forex" if you make a Google search! (have not tested this product yet). I recommend you master the basic strategy first before trying the full EMA version or the 1%, that's what the KoF recommends himself in his videos BTW, otherwise you'll get lost.
  • #943
  • Dec 30, 2022 11:45am Dec 30, 2022 11:45am
I think its time to be careful on EURUSD as we are in new long-term high zone right now.
  • #944
  • Dec 30, 2022 12:23pm Dec 30, 2022 12:23pm
Quoting akangaziz
{quote} Tried to attach the demo account to Trade Explorer but couldn't make it, pls find the MT4 demo account with investor password: FXPro.com-Demo01 7927682 6sltjtp pls ignore the 1st 2 trades, i tried to use EA to handle the trade after I open the entry but didn't work. started from the 3rd trades, i trade manually.
Excellent!!
The best traders hone their skills through practice and discipline.
  • #945
  • Dec 30, 2022 3:16pm Dec 30, 2022 3:16pm
Guys, where do I find the pips counter indi? THX
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 4 KB
  • #946
  • Dec 30, 2022 3:58pm Dec 30, 2022 3:58pm
Quoting Olarion1975
Guys, where do I find the pips counter indi? THX {image}
My friend, it should be in the Cpfleger's template post #405, I think it's the one called "Pip Counter (Andrea)".

Hope this helps! If it's missing we should add it.
  • #947
  • Dec 30, 2022 4:13pm Dec 30, 2022 4:13pm
Got to go back to drawing board. Took a 20% loss due to a stupid mistake. trading U/J. price was 1 pip short from from 21 ema. So recover process started and i got greedy when i eventually got back in profit. i got greddy and wanted more before price continued with trend and never recovered and i holding on aslong as i could. in hindsight i should hold maybe longer as monday price will probably recover, however 20% is my max DD

Im glad its happened. I was trading whilst distracted with family guest over the festive period and i wasnt in postion to montor trades properly. I need to focus on exiting earlier.
  • #948
  • Dec 30, 2022 4:30pm Dec 30, 2022 4:30pm
Quoting RieseP
Got to go back to drawing board. Took a 20% loss due to a stupid mistake. trading U/J. price was 1 pip short from from 21 ema. So recover process started and i got greedy when i eventually got back in profit. i got greddy and wanted more before price continued with trend and never recovered and i holding on aslong as i could. in hindsight i should hold maybe longer as monday price will probably recover, however 20% is my max DD Im glad its happened. I was trading whilst distracted with family guest over the festive period and i wasnt in postion...
My friend, I find it very hard to focus on the M5 timeframe, it feels too slow to me and I start to get distracted/sloppy, that's another reason why I prefer M1.

That's the kind of move I described in previous posts:

Attached Image (click to enlarge)
Click to Enlarge Name: 50 200 Cross No Breakout Trap.png Size: 42 KB


I believe that's the one KoF exploits in his 1% system.

Bounces off the 200 EMA are the most dangerous for this system.
  • #949
  • Dec 30, 2022 4:39pm Dec 30, 2022 4:39pm
Quoting Abade
{quote} My friend, I find it very hard to focus on the M5 timeframe, it feels too slow to me and I start to get distracted/sloppy, that's another reason why I prefer M1. That's the kind of move I described in previous posts: {image} I believe that's the one KoF exploits in his 1% system. Bounces off the 200 EMA are the most dangerous for this system.
M1 is better. but also you can get caught up in more false signals. with m5 i find it more clearer
  • #950
  • Dec 30, 2022 4:45pm Dec 30, 2022 4:45pm
With m1. 50 ema is a good target also
  • #951
  • Dec 30, 2022 4:50pm Dec 30, 2022 4:50pm
Quoting RieseP
With m1. 50 ema is a good target also
I don't think UJ is a good pair to trade this. I know some algo traders that do intraday momentum on it (profitably). It likes to drift a lot, just as AUD does.

Yeah, I find 50 to be one of the most important EMAs for recoveries and trend reading.
  • #952
  • Dec 30, 2022 4:53pm Dec 30, 2022 4:53pm
Quoting Abade
{quote} I don't think UJ is a good pair to trade. I know some algo traders that do intraday momentum on it (profitably). It likes to drift a lot, just as AUD does.
DAX =
  • #953
  • Edited 5:10pm Dec 30, 2022 4:54pm | Edited 5:10pm
Quoting Abade
{quote} I don't think UJ is a good pair to trade this. I know some algo traders that do intraday momentum on it (profitably). It likes to drift a lot, just as AUD does. Yeah, I find 50 to be one of the most important EMAs for recoveries and trend reading.
My probably with M1. sometime distance to 21 ema is like 3-4 pips to 21 ema. with spread it becomes like 2-4 pips.
Abade what the instruments you trade?
  • #954
  • Dec 30, 2022 5:18pm Dec 30, 2022 5:18pm
Quoting RieseP
{quote} My probably with M1. sometime distance to 21 ema is like 3-4 pips to 21 ema. with spread it becomes like 2-4 pips. Abade what the instruments you trade?
Currently I have been testing EURUSD, AUDUSD and GBPUSD in the M1 (the ones KoF uses the most). The Dax is great! However the spread is a bit too high to use the M1, sadly
  • #955
  • Dec 30, 2022 6:27pm Dec 30, 2022 6:27pm
Quoting akangaziz
{quote} Tried to attach the demo account to Trade Explorer but couldn't make it, pls find the MT4 demo account with investor password: FXPro.com-Demo01 7927682 6sltjtp pls ignore the 1st 2 trades, i tried to use EA to handle the trade after I open the entry but didn't work. started from the 3rd trades, i trade manually.
you must be from the 1% club, phenomenal results!!! thanks for sharing
every minute matters!
  • #956
  • Dec 30, 2022 6:32pm Dec 30, 2022 6:32pm
Quoting josh1111
Getting closer to flipping this DEMO account.{image}
excellent work, keep it going
every minute matters!
  • #957
  • Dec 30, 2022 6:37pm Dec 30, 2022 6:37pm
Quoting RieseP
Got to go back to drawing board. Took a 20% loss due to a stupid mistake. trading U/J. price was 1 pip short from from 21 ema. So recover process started and i got greedy when i eventually got back in profit. i got greddy and wanted more before price continued with trend and never recovered and i holding on aslong as i could. in hindsight i should hold maybe longer as monday price will probably recover, however 20% is my max DD Im glad its happened. I was trading whilst distracted with family guest over the festive period and i wasnt in postion...
sorry to hear, especially since it was in profit, two very important lessons i agree, always take profits, and don't ever trade while distracted
every minute matters!
  • #958
  • Dec 30, 2022 6:48pm Dec 30, 2022 6:48pm
Quoting niks
{quote} sorry to hear, especially since it was in profit, two very important lessons i agree, always take profits, and don't ever trade while distracted
Nik do you have any other filters to enter a trade? yes your right. i was kicking my teeth. I never try profit from a recovery trade but i saw a huge quick accelaration in profit and it quickly dissappeared and never come back again.
  • #959
  • Dec 30, 2022 6:56pm Dec 30, 2022 6:56pm
Quoting Abade
{quote} Currently I have been testing EURUSD, AUDUSD and GBPUSD in the M1 (the ones KoF uses the most). The Dax is great! However the spread is a bit too high to use the M1, sadly
You would have to trade Dax on the M5 or M15 to beat the spread in order for the strategy to make sense. I would use some form of alerts send to my phone and execute trades from there rather than watch the screen because it can be like watching paint dry.
Leave the Gun, Take the Armani
  • #960
  • Dec 30, 2022 6:57pm Dec 30, 2022 6:57pm
Quoting Abade
{quote} Thanks for sharing niks! This happened during US elections: {image} The 50 EMA touch filter would have worked very well for a delayed entry there! However, it's followed by a slower tough-trend/drifting: {image} In this case price made a nice bounce that could have been exploited as well. There was a strong up-trend the following day: {image} You are supposed to be scratching small profits along the way (the more you hold it, the worse it can get), that's how KoF handles such situations in his live feeds. It can barely be seen, but price...
np Abade, i agree we need to learn a lot from these types of situations to remain successful

this is the price action one bar before the blowout

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB

some would of entered short on the last peak with very small profit potential as it falls just short of ema9, and then:

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 10 KB

unless you were caught in this live, you will never know what your actions would be, like mike tyson once said, we all have a plan until we get punched in the face!
every minute matters!
8 traders viewing now