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M1 Countertrend Scalping Strategy

  • #1,301
  • Jan 9, 2023 5:00am Jan 9, 2023 5:00am
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Clear sell to follow the trend
  • #1,302
  • Jan 9, 2023 5:06am Jan 9, 2023 5:06am
well said. it was bound to happen. Hes tried to keep the other strategy under wraps but hes failed to trade it this time round.
  • #1,303
  • Jan 9, 2023 5:07am Jan 9, 2023 5:07am
Quoting chhico
{image}Clear sell to follow the trend
Nice, but this is not what this strategy is all about. The thread is called "M1 Countertrend scalping".
  • #1,304
  • Jan 9, 2023 5:20am Jan 9, 2023 5:20am
I know the title of the thread but this is based on the KOF strategy and I am trying to explain you that you need to use the complete system to succeed and not only the little part of reaching the emas.
  • #1,305
  • Jan 9, 2023 5:21am Jan 9, 2023 5:21am
Quoting chhico
{image}Clear sell to follow the trend
thanks for the example, that would be obvious to most, its the risk management side of it that matters - what happens when it reverses on you? its the same question with every strategy which neither you or KoF have demonstrated
every minute matters!
  • #1,306
  • Jan 9, 2023 5:32am Jan 9, 2023 5:32am
Quoting niks
{quote} thanks for the example, that would be obvious to most, its the risk management side of it that matters - what happens when it reverses on you? its the same question with every strategy which neither you or KoF have demonstrated
Fair enough. I find it always hard to focus on 2 strategies, especially switching from trend to countertrend and vice versa. It's always easy in hindsight though.
  • #1,307
  • Jan 9, 2023 5:33am Jan 9, 2023 5:33am
eurgbp was nice opportunity,i just follow bigger trend and wait ...Can not menage positions but can be compound more I think. at least till ema 200
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Make your own rules and stick to it.
  • #1,308
  • Jan 9, 2023 5:48am Jan 9, 2023 5:48am
Quoting cpfleger
Happy New Year....enjoy. {image}
Hi Cpfleger,
I really like this template. Can I ask are your SR lines an indicator? And also how are you using the new 34 MA, is it to show the fanned MAs? Many thanks
  • #1,309
  • Jan 9, 2023 5:54am Jan 9, 2023 5:54am
I believe that we must take into account the ll and hh to have a better vision of the context that we are operating. If you are creating new hh or ll it is not very coherent to operate countertrend
  • #1,310
  • Jan 9, 2023 6:08am Jan 9, 2023 6:08am
Quoting niks
{quote} thanks for the example, that would be obvious to most, its the risk management side of it that matters - what happens when it reverses on you? its the same question with every strategy which neither you or KoF have demonstrated
well said.....age old question.
  • #1,311
  • Jan 9, 2023 7:25am Jan 9, 2023 7:25am
Quoting chhico
I know the title of the thread but this is based on the KOF strategy and I am trying to explain you that you need to use the complete system to succeed and not only the little part of reaching the emas.
would you be so kind to share how the complete system got you out of the trade you posted as an example?
every minute matters!
  • #1,312
  • Jan 9, 2023 7:28am Jan 9, 2023 7:28am
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Uptrend time
  • #1,313
  • Jan 9, 2023 7:29am Jan 9, 2023 7:29am
Quoting niks
{quote} would you be so kind to share how the complete system got you out of the trade you posted as an example?
I closed when price returned to the 20 ema with a little profit.. hoping that the uptrend will pay more
  • #1,314
  • Jan 9, 2023 7:38am Jan 9, 2023 7:38am
Quoting chhico
{quote} I closed when price returned to the 20 ema with a little profit.. hoping that the uptrend will pay more
thank you sir! that was very helpful...
every minute matters!
  • #1,315
  • Jan 9, 2023 7:42am Jan 9, 2023 7:42am
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Price going down with decreasing volume.. I'll keep them open waiting for another bounce or closing at the ema50.. just to givr you a little idea on how it works
  • #1,316
  • Jan 9, 2023 7:49am Jan 9, 2023 7:49am
Quoting chhico
{image}Price going down with decreasing volume.. I'll keep them open waiting for another bounce or closing at the ema50.. just to givr you a little idea on how it works
awesome! much appreciate your insight...
every minute matters!
  • #1,317
  • Jan 9, 2023 9:09am Jan 9, 2023 9:09am
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Double top..it's time to take my profit.... no price action and volume reading no party... this is what I would like ypu to understand..
  • #1,318
  • Jan 9, 2023 10:13am Jan 9, 2023 10:13am
Quoting chhico
What happened on last Friday is exactly what I was talking about in my last reply (ignored by the majority of you because no one likes to hear the truth). The power of the strategy is to understand when to trade ranges and when to trade trends. For me Friday was a great trading day because of the upward movement on EU and KOF also would have been buying and not selling for so long, but he has to take these risky trades only to show you how the basic strategy works. To survive using only the basic version you have to use ridicoulus leverage, in this...
You are absolutely correct!
I decided to just follow KOF directly on his live stream hoping to learn as much as possible. I also doubled my lot size since my account size had doubled. I bought and sold with him within seconds of his calls. I also took his recommendation of waiting for the market to reopen because "we were at the top and it surely about to come back down". I did make some profits along the way but it didn't matter in the end.
This led to my hard earned Demo account that I had doubled over the last few weeks to be blown. Realistically Abade's recommended lot sizes are correct if you are going to stay safe and aren't going to hedge. Niks you are also correct in noting that it wasn't sustainable. Big trends will happen and there must be a plan in place to handle them as a trader. You must be ready to Identify and switch to Trend following mode with hedges or a big loss, or to stop trading with a loss until counter trend trading is proving to make sense again. Thanks Chhico for shedding some light on how to make that decision any more insight you could share would be greatly appreciated as that is the secret sauce really.
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  • #1,319
  • Jan 9, 2023 10:37am Jan 9, 2023 10:37am
Quoting josh1111
{quote} You are absolutely correct! I decided to just follow KOF directly on his live stream hoping to learn as much as possible. I also doubled my lot size since my account size had doubled. I bought and sold with him within seconds of his calls. I also took his recommendation of waiting for the market to reopen because "we were at the top and it surely about to come back down". I did make some profits along the way but it didn't matter in the end. This led to my hard earned Demo account that I had doubled over...
Why this? If you start with lot of risk and you able to not trash account that fast, why on earth you increase risk same way your account double? I do not get why people do not think about how dangerous can it. Can say it not often enough, trade this style ONLY with well planed money management. If you really doubled account, stay with same lot size. You have won more space if things go out of road, or concider a stop and close all positions if they make no sense more. Watch the daily timeframe will you give some clue how things turn out the way they do.
Perfection is the enemy of good enough!
  • #1,320
  • Jan 9, 2023 10:39am Jan 9, 2023 10:39am
Rules was to follow bigger trend and usdcad dropped like a stone, but I got out with loss on eurcad-- amateur trade
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Make your own rules and stick to it.
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