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M1 Countertrend Scalping Strategy

  • #1,601
  • Jan 13, 2023 8:57am Jan 13, 2023 8:57am
Quoting cpfleger
The majority of you will look at the following screenprint and laugh because the profit is small, but I see 100% Performance as a Trader. This was 7 usd Balance before today, if you really want a challenge, open a 7 usd live account and try and make 30% a day, forget FTMO, Traders Edge or any top Hedge Fund opportunity because you will become a slave to their Terms and Conditions. Live your life, conquer your fears and learn to take a very small account and double it within 48 hours, my challenge to YOU. Have a great weekend. cpfleger {image}
Nice trading
Next week I will take the challenge on a real account
veni vidi vici
  • #1,602
  • Jan 13, 2023 9:28am Jan 13, 2023 9:28am
Quoting RickM
{quote} Hi Chucun Here is two charts, Top - EURUSD from spot forex showing MT5 volume Bottom - EU6H23 which is the EURUSD Futures Version showing Futures Volume. Spot EURUSD & Futures EU6H23 are both connected by swaps, creating a way to measure volume as if it came from a centralized exchange. You can trade spot EURUSD and borrow the signals off the Futures version and you can be sure its accurate representation as seen on a histogram indicator. Just use ClusterDelta on MT4 or MT5 and your back in the game. This was from yesterday's open on EURUSD...
Please excuse my ignorance here but is the Cluster Delta indicator actually showing Futures Market order flow?
  • #1,603
  • Jan 13, 2023 10:39am Jan 13, 2023 10:39am
Quoting cpfleger
The majority of you will look at the following screenprint and laugh because the profit is small, but I see 100% Performance as a Trader. This was 7 usd Balance before today, if you really want a challenge, open a 7 usd live account and try and make 30% a day, forget FTMO, Traders Edge or any top Hedge Fund opportunity because you will become a slave to their Terms and Conditions. Live your life, conquer your fears and learn to take a very small account and double it within 48 hours, my challenge to YOU. Have a great weekend. cpfleger {image}
Hello people are you seeing this!
cpfleger is holding 100% accuracy
23 out of 23! Simply Awesome.
All I can say is I am paying attention to every post he makes and every KOF video.
Well done and thank you again for your teachings and for all of the inspiring positivity.
I started a new $1K Demo account and am trying to follow your in your footsteps and take you,Abades and Niks advice of way lower lot size. Here are the first trades.
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  • #1,604
  • Jan 13, 2023 10:45am Jan 13, 2023 10:45am
Watching UJ
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  • #1,605
  • Jan 13, 2023 10:49am Jan 13, 2023 10:49am
Selling UJ
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  • #1,606
  • Jan 13, 2023 10:52am Jan 13, 2023 10:52am
UJ paid but is a clear example of loosing some pips using my trailing stop loss method.
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  • #1,607
  • Jan 13, 2023 12:46pm Jan 13, 2023 12:46pm
Riding this mini uptrend on GU. Let's see if it breaks the white resistance line and continues up.
This is me using the Full EMA Strategy.
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  • #1,608
  • Jan 13, 2023 12:53pm Jan 13, 2023 12:53pm
Exited.
Getting ready for a meeting at work, I won't be able to monitor it during my meeting.
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  • #1,609
  • Jan 13, 2023 4:47pm Jan 13, 2023 4:47pm
Quoting josh1111
UJ paid but is a clear example of loosing some pips using my trailing stop loss method. {image}
keep at it josh and rewards will follow... i know you said you are trying, but in terms if your lot sizing, keep trying harder, 0.03 is still too large for a 1k account, do not be in a rush to double the account, it's not about how quickly you get there, it's about how you get there, just keep it simple
every minute matters!
  • #1,610
  • Jan 13, 2023 4:53pm Jan 13, 2023 4:53pm
Quoting Olarion1975
{quote} Yes, this can happen anytime. No matter how good your analysis is. Therefore I think averaging in is still the way to go (no stop loss), but not blindly or strictly after x pips. There has to be some kind of reversal signal. Secondly, keeping the lot size small helps to survive these trends with minimal retracements.
you missed the point!

Quoting mario777
{quote} one way to filter to avoid early entry is to add bollinger band. Avoid entering when bb is opening in opposite direction.
an early entry is certainly desirable when following the trend!
every minute matters!
  • #1,611
  • Jan 13, 2023 5:02pm Jan 13, 2023 5:02pm
Quoting Chucun
Riding this mini uptrend on GU. Let's see if it breaks the white resistance line and continues up. {image}
looked like a good time to exit anyway after that last big bull candle, well played - but i keep seeing lateness in your entries, not sure if its the spread, i would of committed the bulk of the orders you made a lot earlier, regardless, i'm sure it was a nice profit!
every minute matters!
  • #1,612
  • Jan 13, 2023 5:26pm Jan 13, 2023 5:26pm
Quoting niks
{quote} looked like a good time to exit anyway after that last big bull candle, well played - but i keep seeing lateness in your entries, not sure if its the spread, i would of committed the bulk of the orders you made a lot earlier, regardless, i'm sure it was a nice profit!
Definitely, the spread makes it look like my entries are delayed, but they are not. Not sure if you have the full EMA strategy, but I waited until the bullish candle broke above the highs to the left. As you can see the price failed to break the resistance area multiple times. I could have entered after the bullish candle and multiple rejections in the 3rd support area, but I wanted to make sure that it would trend up before getting in. Also another indication is that the 9, 20 and 50 are fanning out when it breaks the resistance to the left.

Yes, you can place all your orders in one price level if you want, but applying the 1% strategy order placement to my entries. Its all preference.
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  • #1,613
  • Jan 13, 2023 5:47pm Jan 13, 2023 5:47pm
Quoting niks
{quote} an early entry is certainly desirable when following the trend!
you missed the point! You dont know if its going to trend or not otherwise all of us became millionaires by now.
  • #1,614
  • Jan 13, 2023 6:00pm Jan 13, 2023 6:00pm
Hi guys, I hope you all are doing great!

Has anyone tried using renko instead of time candles for the EMA strategy?:

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If you have, feel free to share your experiences with it.
  • #1,615
  • Jan 13, 2023 6:02pm Jan 13, 2023 6:02pm
Quoting mario777
{quote} you missed the point! You dont know if its going to trend or not otherwise all of us became millionaires by now.
sure, but you talked out about avoiding early entries on a counter trend trade when i was talking about how one should be thinking immediately after exiting a counter trend trade, get it now?

of course its all about probabilities - you need to stack them in your favour to make a profit - it takes hard work and dedication
every minute matters!
  • #1,616
  • Jan 13, 2023 6:27pm Jan 13, 2023 6:27pm
Quoting Abade
Hi guys, I hope you all are doing great! Has anyone tried using renko instead of time candles for the EMA strategy?: {image} If you have, feel free to share your experiences with it.
I had no luck with Renko. I think it works better on higher time frames. And it performs better with stock trading i had no luck with small timeframes. However if you do it. I recommend making block sizes anywhere 25-33% of the atr of that time frame.
  • #1,617
  • Jan 13, 2023 7:07pm Jan 13, 2023 7:07pm
Quoting Chucun
{quote} Definitely, the spread makes it look like my entries are delayed, but they are not. Not sure if you have the full EMA strategy, but I waited until the bullish candle broke above the highs to the left. As you can see the price failed to break the resistance area multiple times. I could have entered after the bullish candle and multiple rejections in the 3rd support area, but I wanted to make sure that it would trend up before getting in. Also another indication is that the 9, 20 and 50 are fanning out when it breaks the resistance to the...
ok, that explains it - no, i do not have either of KoF's strategies, but i understand what you and chhico are doing, however will not follow blindly somebody who does not show their drawdowns and losses which is where the real value would be in those videos, even if he is the best in the world, and also reaffirmed by not acknowledging his loss on his last live stream (not that i saw anyway)

i don't mean to place all orders in one price, i agree with how you have done it, i just would of placed them earlier on as you yourself assessed this as a mini trend, maybe its the spreads, either way, it was a good trade, and i agree, its all down to preference
every minute matters!
  • #1,618
  • Edited 9:58pm Jan 13, 2023 9:38pm | Edited 9:58pm
Quoting Abade
Hi guys, I hope you all are doing great! Has anyone tried using renko instead of time candles for the EMA strategy?: {image} If you have, feel free to share your experiences with it.
many ppl speak from good trending behavior they could observing when using Heikan Ashi or Renko.... I found it is more for long term trend and huge account size, for small account size and scalpers these charting methods could not be used effectively, as I and you soon too would find, that market could move several pips before the pips change even would appears on your renko or HA chart.... Correct me if you could.

Also using this 1% EMA system even trading with 0.01 I am struggling with the negative effect when a strong trend breakout happens like with gold manipulatively or not happened at the moment, I considered abandon all the 0.01 sell positions,since 187x by compensate with 1 huge buy order, then stay on "buy high, sell higher".
But it causes me more loss, each time I thought to compensate with a buy order... I just cant find a good retrace level or a gap down to get in with that buy order, and I can not trade much lower than 0.01. What should I do?
I incurred a loss of 380$ on 10K account, but the issue is: I am only allowed a daily max DD of 480$! Touch that level on equity or balance I would lose the whole account, even my secure leverage is sufficient high above 2000% and I still have made thousands in profit ... I have a considerably profit buffer of 2x requirement, but due to ego issue I can not/ want not to just write off the 380$.
Perhaps near 450$ I would need to cut the loss... ego issue or not. What advise can you give?
  • #1,619
  • Jan 13, 2023 10:31pm Jan 13, 2023 10:31pm
Quoting ntk
{quote} many ppl speak from good trending behavior they could observing when using Heikan Ashi or Renko.... I found it is more for long term trend and huge account size, for small account size and scalpers these charting methods could not be used effectively, as I and you soon too would find, that market could move several pips before the pips change even would appears on your renko or HA chart.... Correct me if you could. Also using this 1% EMA system even trading with 0.01 I am struggling with the negative effect when a strong trend breakout happens...
Thanks for sharing!

I think 480$ DD (5%??) is too tight for this strategy or any other that uses cost averaging or similar "recovery" methods. Having such restrictions means you have to stick to a more conservative money management regime. Keep in mind that you still have to face a string of losing trades sooner or later even if you are not using these risky recovery methods.

The best advise I can give is to test everything you trade and have a plan to protect your balance against moves that affect your strategy! Every strategy has its own weakness and every instrument has its own personality, so there is no perfection in trading.
  • #1,620
  • Jan 13, 2023 10:43pm Jan 13, 2023 10:43pm
Quoting ntk
{quote} Also using this 1% EMA system ?
which system is that?
every minute matters!
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