M1 Countertrend Scalping Strategy

Quoting cpfleger

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Elsaloon, I think where you and others may fail to understand the KoF EMA Strategy is that TP is not set in stone. if you look at the majority if not all of my screenprints I close my trades early due to the feeling the Market is going to change. I watch the HA Candle BODY as this is my exit criteria (feeling the Market). I have not been able to convince my Brain that fixed TP / SL works in a variable Forex Market and I have been trading for 15 years now, 4 years full-time since my retirement. Please understand that nothing is fixed or permanent...

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Quoting josh1111

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{quote} yes setting it up as we speak. Took overnight to be delivered to my email. I will post the link after I know its not a crap knockoff.

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Quoting cpfleger

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mansan, excellent, be patient, wait, wait and wait (over 80% of trading is - wait for it - WAITING). cpfleger

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Quoting niks

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{quote} with regard to what most in this thread are trying to achieve it is the development of the counter trend ema system, and a big part of that development is risk management, but ideally, it is to avoid counter trading into tough trends to begin with and more importantly TO EXIT immediately once you realise the trade is not going your way, this takes much time and practice and all boils down to timing and discipline to control greed - the majority of counter trend trades should be short and sweet.. {image}

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Quoting Darwati

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A simple logic If only Abade and cpfleger used the follow trend technique, and used TF 5 I'm sure they could become billionaires why ? Because they just follow the trend and stop when the counter trend and start again when there is a trend Like anyone who can predict HH-LL more validly Maybe {image}

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Quoting cpfleger

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Elsaloon, I think where you and others may fail to understand the KoF EMA Strategy is that TP is not set in stone. if you look at the majority if not all of my screenprints I close my trades early due to the feeling the Market is going to change. I watch the HA Candle BODY as this is my exit criteria (feeling the Market). I have not been able to convince my Brain that fixed TP / SL works in a variable Forex Market and I have been trading for 15 years now, 4 years full-time since my retirement. Please understand that nothing is fixed or permanent...

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Quoting cliffjaded

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Finished with +2.5%. Done for the day as it's Friday and the markets are winding down. {image}

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Quoting Abade

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{quote} This is an excellent explanation by niks. I wanted to add a small hint/observation on exit selection by re-using the provided example: {image} There are a million ways to read the markets. Here is another way of doing so (by Michel): {image} EURUSD loves Elliot wave theory. {quote} Hi Darwati! That chart looks interesting but the explanation is a bit confusing, please feel free to share rules and a few examples/backtests of this approach. BTW, this is not my main strategy, I also use trend-following/auto-trading. I opened this thread to...

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