Attachments: M1 Countertrend Scalping Strategy

M1 Countertrend Scalping Strategy

#2,141
Jan 25, 2023 9:51am Jan 25, 2023 9:51am

cpfleger
Joined Jul 2015 | Status: Trader | 6,592 Posts

rcbarlow,
download the last Template and Indicators, see above paperclip.
HA Candles
cpfleger

By the way London closes in a few minutes, so I am offline until tonight, wife duties.

#2,142
Jan 25, 2023 9:57am Jan 25, 2023 9:57am

charli86
Joined Jan 2017 | Status: Trader | 816 Posts

Quoting Escpln

Disliked

{quote} I have to agree, it’s the only problem I see with this strategy. I think most users here are trading with demo account. However, once you start using real money, going into drawdown like that is emotionally really hard for any trader… in the back of your mind you know price might not come back…and if this is your job, that could mean an end to your account. fundamentally though the strategy is solid.

Ignored

Hi Escpln,sometimes i am using tight sl,or if price does not go in my direction asap I close order,or open couple of more orders and sometimes accept loses, and always using live acc. min. lot for now, i think this is better than demo, at least for me, it is very easy to add more lot size when you master one approach,still a long road to run .... All the best.

Make your own rules and stick to it.

#2,143
Jan 25, 2023 10:10am Jan 25, 2023 10:10am

raklian
| Joined May 2017 | Status: Trader | 915 Posts

If you keep taking all of the setups without factoring in the market's tendency to follow a probabilistic curve, you will not be profitable in the long run.

#2,144
Jan 25, 2023 10:27am Jan 25, 2023 10:27am

charli86
Joined Jan 2017 | Status: Trader | 816 Posts

I'll from today take only high probability trades,completely will ignore so-so setups, let's see some time how this will pan out.Generally this is how I see it ,at the end what price is doing is actually what I really need to master.

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Make your own rules and stick to it.

#2,145
Jan 25, 2023 10:36am Jan 25, 2023 10:36am

kasrafx
| Joined Aug 2014 | Status: Trader | 489 Posts

Cpfleger,
Do you set 3 pips trailing stop for all of your trades or not?

#2,146
Jan 25, 2023 12:25pm Jan 25, 2023 12:25pm

cossee
| Joined Mar 2021 | Status: Trader | 38 Posts

Quoting cpfleger

Disliked

Eating Pips, preparing for lunch paid by The Market... {image}

Ignored

Sir is that a 6LWMA or the Gann High/Low?

#2,147
Jan 25, 2023 12:56pm Jan 25, 2023 12:56pm

Escpln
| Additional Username | Joined Jan 2023 | 3 Posts

Quoting charli86

Disliked

{quote} Hi Escpln,sometimes i am using tight sl,or if price does not go in my direction asap I close order,or open couple of more orders and sometimes accept loses, and always using live acc. min. lot for now, i think this is better than demo, at least for me, it is very easy to add more lot size when you master one approach,still a long road to run .... All the best.

Ignored

that’s fair, with tighter stop loss you might accrue more losses but ultimately it’s better for the profitability of the system

#2,148
Edited 4:43pm Jan 25, 2023 2:07pm | Edited 4:43pm

ntk
Joined Dec 2018 | Status: Trader | 1,271 Posts

Quoting raklian

Disliked

If you keep taking all of the setups without factoring in the market's tendency to follow a probabilistic curve, you will not be profitable in the long run.

Ignored

and how you would do it? could you explain more about which you would take and which you leave aside?

I am waiting for
GC buy in M1,
UC to sell ;
GC to sell in M1 sell or
GC in M15 to sell down

could you pls talk about those as examples

PS: .... Oh No WHat the ....
about 21:00 I
I sold UC closest to the supply box
I sold GU closest to the supply box
I sold GC closest to the supply box
@22:33 GMT and I am in minus on all 3 markets ??? Did someone move the box?

could someone pls explain where did I make mistake here?

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#2,149
Jan 25, 2023 4:04pm Jan 25, 2023 4:04pm

lpp
| Joined Jul 2008 | Status: Persona Non Grata | 129 Posts

So much negativity in such a progressive thread.

Wisdom from the past......

Leo F. Buscaglia
“The person who risks nothing, does nothing,
has nothing, is nothing, and becomes nothing.

He may avoid suffering and sorrow, but he simply cannot
learn, feel, change, grow or love.

Chained by his certitude, he is a slave; he has forfeited his freedom.
Only the person who risks is truly free.
**********************************

Staying Alive.
Life goin' nowhere, somebody help me
Somebody help me yeah
Life goin' nowhere somebody help me yeah
I'm stayin' alive

Crank up the sound and get some bounce into your life

Inserted Video

lpp

I would like to die on Mars. Just not on impact..... Elon Musk

#2,150
Jan 25, 2023 4:16pm Jan 25, 2023 4:16pm

ntk
Joined Dec 2018 | Status: Trader | 1,271 Posts

Gold and GU are at decision level ... will it go down or up???

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#2,151
Jan 25, 2023 4:28pm Jan 25, 2023 4:28pm

ntk
Joined Dec 2018 | Status: Trader | 1,271 Posts

Dear oh dear how to read this situation then???

"
Published: 10:04 AM Jan 25, 2023
The Bank of Canada (BoC) announced another rate hike on Wednesday, increasing its overnight lending rate by 25 basis points.
" So it mades CAD better value so GC should fall, unless some news raises value of GBP,
So why the GAP down?

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#2,152
Edited 9:03pm Jan 25, 2023 8:03pm | Edited 9:03pm

Escpln
| Additional Username | Joined Jan 2023 | 3 Posts

I only scalp NAS100. Here's the trades from today. 3 Winners, No losers - 2:1 SL

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I made a script that tells you the distance and RSI level from the MA'S. The sweet spot for NAS 100seems like 30-50 dollars.

I then use a custom oscillator to really time those entries.

Here's a what a couple other days look like as well

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#2,153
Jan 25, 2023 9:26pm Jan 25, 2023 9:26pm

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

Quoting Escpln

Disliked

I only scalp NAS100. Here's the trades from today. 3 Winners, No losers - 2:1 SL {image} I made a script that tells you the distance and RSI level from the MA'S. The sweet spot for NAS 100seems like 30-50 dollars. I then use a custom oscillator to really time those entries. Here's a what a couple other days look like as well {image}

Ignored

from the snapshots you have posted, this market would appear better suited for following the uptrend with cost averaging up rather than counter trend against the strong long term uptrend - or at least hold the long positions a bit longer or perhaps trail them, anyway, nice trades and nice clean chart!

every minute matters!

#2,154
Jan 25, 2023 9:40pm Jan 25, 2023 9:40pm

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

Quoting charli86

Disliked

I'll from today take only high probability trades,completely will ignore so-so setups, let's see some time how this will pan out.Generally this is how I see it ,at the end what price is doing is actually what I really need to master. {image}

Ignored

price action is the primary indicator, and looking at your chart, aside from ma's, there is no other information that will assist you in your quest to master what price is really doing, i notice a Bears indicator window at the bottom but there's nothing in it - try incorporating another key piece of information to help with your decisions, Tick Volume is popular but difficult to grasp, oscillators used in the right way will also help, point is, pick one, backtest it, get confident with it and use it!

every minute matters!

#2,155
Jan 26, 2023 12:56am Jan 26, 2023 12:56am

charli86
Joined Jan 2017 | Status: Trader | 816 Posts

Quoting niks

Disliked

{quote} price action is the primary indicator, and looking at your chart, aside from ma's, there is no other information that will assist you in your quest to master what price is really doing, i notice a Bears indicator window at the bottom but there's nothing in it - try incorporating another key piece of information to help with your decisions, Tick Volume is popular but difficult to grasp, oscillators used in the right way will also help, point is, pick one, backtest it, get confident with it and use it!

Ignored

Niks,Thank you for suggestion!

Make your own rules and stick to it.