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M1 Countertrend Scalping Strategy

  • #1,721
  • Jan 17, 2023 2:19pm Jan 17, 2023 2:19pm
Quoting Verocity
Current MA Distances helping target pairs for a countertrend. {image}
This is a very interesting indicator. I imagine you focus on the pairs that are showing the most distance from the 200 EMA?
  • #1,722
  • Jan 17, 2023 2:49pm Jan 17, 2023 2:49pm
Quoting Verocity
{quote} https://www.forexfactory.com/thread/...erage-distance
Everybody this indicator is Awesome for this strategy I think it would aid everybody to try this.
Thanks again for turning us onto this it is amazing. I can finally stop constantly clicking through the tabs.

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  • #1,723
  • Jan 17, 2023 4:17pm Jan 17, 2023 4:17pm
Quoting charli86
{quote}Hi Chucun,it is cumulative volume indicator ,second one is kiosotto ,ideally look for cumulative volume to cross lvl 0 and be in the zone of under above that lvl,and kiosotto to be crossing lvls 15/30 ,kind of pullback using this combination,see the pic. Anyway, can't find edge there but for someone can be a helper ... {image}
Thanks you
  • #1,724
  • Jan 17, 2023 4:27pm Jan 17, 2023 4:27pm
[quote=niks;14290870]{quote} how did that turn out? was it counter trend? i tried my first live trend trade today, didn't go well, took a small loss, still much to learn! {image} the worst time to exit i know!

Hi Niks,

One comment on the trend trade you showed. I would have considered exiting when the price broke back down below the 50ema and definitely excited when it broke below the 200ema. That shows that the market entered a different phase. It may be a ranging phase, a downtrend or an uptrend. Once it breaks the 200EMA you assess what the price is doing before entering.
  • #1,725
  • Jan 17, 2023 6:09pm Jan 17, 2023 6:09pm
Night shift just started...
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  • #1,726
  • Jan 17, 2023 6:34pm Jan 17, 2023 6:34pm
Quoting Chucun
One comment on the trend trade you showed. I would have considered exiting when the price broke back down below the 50ema and definitely excited when it broke below the 200ema. That shows that the market entered a different phase. It may be a ranging phase, a downtrend or an uptrend. Once it breaks the 200EMA you assess what the price is doing before entering.
appreciate the comment Chucun, and agree with your analysis, i immediately went into counter trade mode to try and recover it once it broke ema50 instead of closing which would of ended in a similar result but with a lot less pain!

honestly, i was nervous during the entire trade, i'm definitely not ready for these yet, but wanted to give it a shot
every minute matters!
  • #1,727
  • Jan 17, 2023 6:36pm Jan 17, 2023 6:36pm
"Perfection is not when you have nothing more to add, but when you have nothing more to take away." - Antoine De Saint Exupery
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  • #1,728
  • Jan 17, 2023 7:00pm Jan 17, 2023 7:00pm
Quoting josh1111
{quote} Everybody this indicator is Awesome for this strategy I think it would aid everybody to try this. Thanks again for turning us onto this it is amazing. I can finally stop constantly clicking through the tabs. {image}
Thanks! More testing to be done for sure. Did you set up the 200 EMA for each TF?
  • #1,729
  • Jan 17, 2023 7:09pm Jan 17, 2023 7:09pm
Quoting Verocity
{quote} Thanks! More testing to be done for sure. Did you set up the 200 EMA for each TF?
I did one tab with all timeframes set to 9EMA and another tab with EMA200 works sweet! I also use a tab with RunwiseFX software between these three I can see the whole market.
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  • #1,730
  • Jan 17, 2023 7:29pm Jan 17, 2023 7:29pm
Human still has to validate the data on a Chart, YOU need to find your simplest system and get bored with it...
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  • #1,731
  • Jan 17, 2023 9:07pm Jan 17, 2023 9:07pm
Quoting cpfleger
Human still has to validate the data on a Chart, YOU need to find your simplest system and get bored with it... {image}
Cpfleger would you be willing to share your buyers and sellers volume indicator shown here? I really like it's simplicity
  • #1,732
  • Jan 17, 2023 9:44pm Jan 17, 2023 9:44pm
Verocity,
See above paperclip.
cpfleger
  • #1,733
  • Jan 18, 2023 12:14am Jan 18, 2023 12:14am
Catch this both ways. I know it looks like small pips but UJ just made a huge move those are approximately 5 and 8 pips.
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  • #1,734
  • Edited 12:49am Jan 18, 2023 12:19am | Edited 12:49am
Quoting Chucun
Catch this both ways. I know it looks like small pips but UJ just made a huge move those are approximately 5 and 8 pips. {image}
profit is profit, no matter how little, it all adds up!

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it's the big ones that make you feel good though

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"catch this both ways"! i like that game too!
the second order suffered slippage and should of been lower, oh well...


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every minute matters!
  • #1,735
  • Jan 18, 2023 1:25am Jan 18, 2023 1:25am
I know, I know, I was a little bit aggressive with this trade. After the huge move up due to news, it took some time to reverse to the 200 EMA. Once it broke below it and broke back up, I thought it would start to range. I expect to break back down to the 200 EMA.
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  • #1,736
  • Jan 18, 2023 1:25am Jan 18, 2023 1:25am
Quoting Chucun
{quote} RickM, Thank you and best of luck to you as well. Thanks for the additional details. Yes I have a decent understanding of tick volume (every tick movement in the price register as 1 tick volume). Correct me if I'm wrong in my interpretation. I guess the magic in using futures volume is knowing what the # volume is that typically identfies a trend. Obviously that magic # will be different for every tradable asset. I will look at it from your perspective. Can you provide a pair or asset that you have identified and correlated; when the volume...
@RickyM

I have to reconsider my analysis of the clusterdelta volume, you can definitely see when the volume increases when the big players enter the market relative to the tick volume. It adds another perspective chart. I will keep this on my chart to see if it can add another layer to my analysis.
  • #1,737
  • Jan 18, 2023 1:39am Jan 18, 2023 1:39am
I thought I was done for the night. Going to trail this one.
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  • #1,738
  • Jan 18, 2023 1:41am Jan 18, 2023 1:41am
Quoting Chucun
I thought I was done for the night. Going to trail this one. {image}
Trailing stop hit
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  • #1,739
  • Jan 18, 2023 2:20am Jan 18, 2023 2:20am
Last evening I took a massive risk,left the chart and just put orders, survived spreads ,if I got more than -250pips probably I took a loss.I probably never do this again if situation is similar ,better just take small win at the beginning or small loss and leave, when price hit or ema 20 or ema 50....
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Make your own rules and stick to it.
  • #1,740
  • Jan 18, 2023 6:19am Jan 18, 2023 6:19am
Live account profits for today! EURGBP and a some other EURxxx pairs just gave a nice opportunity. Traded it mobile.

I'm starting to verify trend direction and RSI values at higher timeframes to quantify leverage and how aggressive I want to be or if I want to enter at all. I prefer the trends to match.
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