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M1 Countertrend Scalping Strategy

  • #1,121
  • Jan 4, 2023 1:16pm Jan 4, 2023 1:16pm
Quoting Abade
{quote} Very nice scalps! Fast chops are life.
Thanks
Trailing stops helped
  • #1,122
  • Jan 4, 2023 1:17pm Jan 4, 2023 1:17pm
Watching USDCAD
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  • #1,123
  • Jan 4, 2023 1:26pm Jan 4, 2023 1:26pm
Quoting josh1111
Watching USDCAD{image}
USDCAD

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  • #1,124
  • Jan 4, 2023 1:28pm Jan 4, 2023 1:28pm
Quoting Abade
{quote} USDCAD {image}
Nice one!
  • #1,125
  • Jan 4, 2023 1:33pm Jan 4, 2023 1:33pm
Buying Ger30
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  • #1,126
  • Jan 4, 2023 1:35pm Jan 4, 2023 1:35pm
"That is what I am talking about Traders!"
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  • #1,127
  • Edited 2:04pm Jan 4, 2023 1:37pm | Edited 2:04pm
Quoting josh1111
Buying Ger30 {image}
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I got out with a small profit there, It's having a hard time beating resistance.

USDJPY profits (bad first entry):

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  • #1,128
  • Jan 4, 2023 5:41pm Jan 4, 2023 5:41pm
EA testing on another Broker - FBS
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  • #1,129
  • Jan 4, 2023 7:20pm Jan 4, 2023 7:20pm
Nice and steady quick pennies...
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  • #1,130
  • Jan 4, 2023 7:29pm Jan 4, 2023 7:29pm
Quoting niks
{quote} yes Abade, unfortunately, "they'll happen eventually", and i'd say josh handled his trip down the rabbit hole very well! i do not have the full ema strategy, there was another guy that chimed in a few pages back saying we are all doing it wrong if we were to follow the full ema strategy, so i don't know, with the glimpses that KoF has provided, i'd say it involves hedging to ride the trend when you get it wrong for a counter trend return to the ema's and closing the losers along the way i think that's why he says it's a lot harder then the...

Nice trades yesterday, did you make it the whole way to the top?

What's everyone's thoughts of AU dropping from here?
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  • #1,131
  • Edited 8:15pm Jan 4, 2023 8:00pm | Edited 8:15pm
Quoting cpfleger
EA testing on another Broker - FBS {image}
My friend, how does your strategy perform when using 1:1 risk/reward ratio? (using a stop loss)

Can you get up to 24 wins in a row? If you can then you will be able to turn a $100 USD account into $53,694 by risking 30% per trade:

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You'd only need 24 VERY good setups! Let me know what you think!

Quoting IcyComplex
{quote} Nice trades yesterday, did you make it the whole way to the top? What's everyone's thoughts of AU dropping from here? {image}
It dropped like a stone as you were writting my friend
  • #1,132
  • Jan 4, 2023 8:20pm Jan 4, 2023 8:20pm
Abade,
I will investigate your strategy next week, open a demo with 100 usd and attempt your request.
cpfleger
  • #1,133
  • Jan 4, 2023 8:24pm Jan 4, 2023 8:24pm
Quoting cpfleger
Abade, I will investigate your strategy next week, open a demo with 100 usd and attempt your request. cpfleger
Thanks my friend! You are the best
  • #1,134
  • Jan 4, 2023 9:19pm Jan 4, 2023 9:19pm
Quoting Abade
{quote} It dropped like a stone as you were writting my friend


I've learnt to only speak when my Spidey senses are tingling
  • #1,135
  • Jan 4, 2023 9:38pm Jan 4, 2023 9:38pm
Quoting cpfleger
Abade, I will investigate your strategy next week, open a demo with 100 usd and attempt your request. cpfleger
Why waste your time, your'e an experienced trader and already know what the outcome that strategy will be.
Just as your statement was 100% correct on what the correct size of your demo account should be, you agree that fear destroys traders once they sit outside their position comfort zone.
Trading thin liquidity at the boundary of the charts
  • #1,136
  • Jan 4, 2023 10:24pm Jan 4, 2023 10:24pm
Quoting RickM
{quote} Why waste your time, your'e an experienced trader and already know what the outcome that strategy will be. Just as your statement was 100% correct on what the correct size of your demo account should be, you agree that fear destroys traders once they sit outside their position comfort zone.
What are you afraid of RickM? A blown $100 USD demo account?

Or are you implying that my friend cannot get a good row of winners/setups (or even 24 wins in a row)? I think he is 100% capable and that it's a good and interesting exercise to do for any high accuracy system.

Maybe you already know what the outcome will be with all the years of reading and experience you got, but why not let the rest of the traders learn from this, or at least try to elaborate or point out a source on the subject matter?

Here's the main idea, by the way:

Inserted Video


Yes it is risky, but you are not betting your house on it, so watch and relax.
  • #1,137
  • Jan 4, 2023 10:32pm Jan 4, 2023 10:32pm
Quoting Abade
{quote} What are you afraid of RickM? A blown $100 USD demo account? Or are you implying that my friend cannot get a good row of winners/setups (or even 24 wins in a row)? I think he is 100% capable and that it's a good and interesting exercise to do for any high accuracy system. Maybe you already know what the outcome will be with all the years of reading and experience you got, but why not let the rest of the traders learn from this, or at least try to elaborate or point out a source on the subject matter? Here's the main idea, by the way: https://www.youtube.com/watch?v=xxrgGE7rgb8...
1 in 10,000 if they are lucky.
For 9999 traders, its a waste of their time when they should be working on high probability setups.

Why don't you do it then?

Demo sure it's possible, Live account almost impossible.
Trading thin liquidity at the boundary of the charts
  • #1,138
  • Jan 4, 2023 10:41pm Jan 4, 2023 10:41pm
Quoting RickM
{quote} 1 in 10,000 if they are lucky. For 9999 traders, its a waste of their time when they should be working on high probability setups. Why don't you do it then?
Those are good enough odds

I don't do it because my entries are not as good as cpfleger's. He is a better trader. I'll work to be as good as him and try in the future.

If you have "high probability" in your trading then it's also a good idea to experiment with different allocation techniques, that's why stuff like the Kelly Criterion exists in trading.

Quoting RickM
{quote} Live account almost impossible.
Please elaborate on this, is it because of psychology?
  • #1,139
  • Jan 4, 2023 10:48pm Jan 4, 2023 10:48pm
Quoting cpfleger
EA testing on another Broker - FBS {image}
Cpfleger what a great system you shared. Being testing it out on 4hrs chart and the results has been awesome and given me confidence in trading. Would be posting my charts soon. Please what's that arrow indicator on your chart? Do you mind sharing?
  • #1,140
  • Jan 5, 2023 2:05am Jan 5, 2023 2:05am
Good trade But still too early for beer
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