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M1 Countertrend Scalping Strategy

  • #1,381
  • Jan 10, 2023 8:10am Jan 10, 2023 8:10am
Process consistency...
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  • #1,382
  • Jan 10, 2023 8:17am Jan 10, 2023 8:17am
Scorecard so far...
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  • #1,383
  • Jan 10, 2023 8:22am Jan 10, 2023 8:22am
A few more trades to go...
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  • #1,384
  • Jan 10, 2023 8:31am Jan 10, 2023 8:31am
Potential loss number 2....
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  • #1,385
  • Jan 10, 2023 8:34am Jan 10, 2023 8:34am
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waiting for price to go up after the news and all that volume
  • #1,386
  • Jan 10, 2023 8:46am Jan 10, 2023 8:46am
Quoting chhico
{image} waiting for price to go up after the news and all that volume
so you took profits on ema9. ema20 or still holding?
every minute matters!
  • #1,387
  • Jan 10, 2023 9:27am Jan 10, 2023 9:27am
Just a quick EA functional test, SL percentage is valid, TP is valid and Lot Size change after trades were valid too. Overall 24 trades - 22 winners and 2 losses. EA is great and works with EMA Strategy.
cpfleger
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  • #1,388
  • Jan 10, 2023 9:58am Jan 10, 2023 9:58am
Last trade for the day until tonight....
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  • #1,389
  • Jan 10, 2023 10:10am Jan 10, 2023 10:10am
Quoting chhico
{image} waiting for price to go up after the news and all that volume
can you tell me how the income thru FTMO is taxed in your country ?
  • #1,390
  • Jan 10, 2023 10:41am Jan 10, 2023 10:41am
Quoting cpfleger
Last trade for the day until tonight.... {image}
Nice work!
That was some serious ass kicking!
You continue to show us some serious consistency and mastery holding that level of winning trades.
Thanks again for sharing so much and teaching us.
  • #1,391
  • Edited 6:24pm Jan 10, 2023 11:00am | Edited 6:24pm
Quoting cpfleger
Just a quick EA functional test, SL percentage is valid, TP is valid and Lot Size change after trades were valid too. Overall 24 trades - 22 winners and 2 losses. EA is great and works with EMA Strategy. cpfleger {image}
My friend, That's an amazing performance, trading mean reversion with stop-loss is very hard, but you managed to get 22 winners in a row and only 2 losses, this means your entries and exits are on-point, and using cost averaging would only improve most runs.

I got another another request for experimentation my friend, let me know what you think:

- We enter a new position and let it run until it hits either of our symmetrical TP or SL (we don't touch the targets, use trailing or breakeven).
- Only one position at a time.

I want to see how many of the 24 trades are able to hit TP this way, maybe we get different results

Best regards!

Edit: We can use the first EA as it does not have any trailing implemented (re-attached).
Attached File(s)
File Type: ex4 24_Wins_In_A_Row_Challenge_Tool.ex4   169 KB | 392 downloads
File Type: mq4 24_Wins_In_A_Row_Challenge_Tool.mq4   362 KB | 512 downloads
  • #1,392
  • Jan 10, 2023 11:12am Jan 10, 2023 11:12am
Quoting chhico
{image} Look at this uptrend.. price is riding up while volume is going down.. where do you think price will go?
My friend, thanks for sharing your trades and knowledge, I can tell you are a very good scalper.

Until now I have been using volume sparingly and focusing on price interaction with the EMAs to time my entries, but I see that this type of volume analysis can help to identify what's the most likely following move.

This is very useful information, maybe it was one of the missing pieces to filter new entries (looking at the overall volume slope):

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  • #1,393
  • Jan 10, 2023 11:18am Jan 10, 2023 11:18am
Quoting chhico
{image} Look at this uptrend.. price is riding up while volume is going down.. where do you think price will go?
Thats not volume, its tick movement which means little.
If a trend is occurring, volume always increases because without increasing trader participation - the market is flat.
One minute on a Futures platform and you will understand.
Trading thin liquidity at the boundary of the charts
  • #1,394
  • Jan 10, 2023 11:41am Jan 10, 2023 11:41am
Quoting RickM
{quote} Thats not volume, its tick movement which means little. If a trend is occurring, volume always increases because without increasing trader participation - the market is flat. One minute on a Futures platform and you will understand.
My friend, I know it's not true volume, it's tick volume. Nevertheless, I think it can be useful to identify and confirm recurrent patterns of activity (i.e the end or start of a new strong move).
  • #1,395
  • Jan 10, 2023 3:26pm Jan 10, 2023 3:26pm
Tick Data Article
Why Is Tick Volume Important To Monitor In The Forex Market?
Inserted Video

Welcome To The Trading Mentor Channel
  • #1,396
  • Jan 10, 2023 3:32pm Jan 10, 2023 3:32pm
Apologize, the video is the wrong one about Tick Data, hopefully will find again..

The difficulty Forex traders face is in getting access to reliable volume data in a decentralized market. There are three main ways Forex traders can do this:

  1. Use Forex futures volume data, which is publicly available. This is a large, centralized exchange so the data should be quite reliable.
  2. Many brokers offer clients access to their own volume data. However, this is just the data from one broker, so unless the broker is very large, it may not be very useful, and even then, it is somewhat suspect.
  3. Use a tick volume indicator on a major price feed. Some studies have shown a correlation between tick and real volume in financial markets, but this remains questionable. For example, it is possible for price to fluctuate little from second to second despite huge volumes of orders being processed.

  • #1,397
  • Jan 10, 2023 3:37pm Jan 10, 2023 3:37pm
FBS one of my Brokers Tick Volume comments...
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  • #1,398
  • Jan 10, 2023 3:48pm Jan 10, 2023 3:48pm
Beauty is in the eye of the beholder....
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  • #1,399
  • Jan 10, 2023 6:18pm Jan 10, 2023 6:18pm
Quoting RickM
{quote} Thats not volume, its tick movement which means little. If a trend is occurring, volume always increases because without increasing trader participation - the market is flat. One minute on a Futures platform and you will understand.
firstly, you state the obvious to most, then you make an assumption - and to top it all off, you missed the whole point, he was saying if a trend is occurring on lowering "volume", it is most likely going to retrace, nothing about futures markets or your belief that volume ALWAYS increases on trend
every minute matters!
  • #1,400
  • Jan 10, 2023 6:23pm Jan 10, 2023 6:23pm
Quoting cpfleger
Beauty is in the eye of the beholder.... {image}
Here it is my friend, the MT5 version of the EA.

Let me know how it goes
Attached File(s)
File Type: ex5 24_Wins_In_A_Row_Challenge_Tool_TS_MT5.ex5   216 KB | 378 downloads
File Type: mq5 24_Wins_In_A_Row_Challenge_Tool_TS_MT5.mq5   431 KB | 440 downloads
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