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Attachments: M1 Countertrend Scalping Strategy
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M1 Countertrend Scalping Strategy

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.
Quoting Escpln
{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.
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.
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.
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.
Cpfleger,
Do you set 3 pips trailing stop for all of your trades or not?
Quoting cpfleger
Eating Pips, preparing for lunch paid by The Market... {image}
Sir is that a 6LWMA or the Gann High/Low?
Quoting charli86
{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.
that’s fair, with tighter stop loss you might accrue more losses but ultimately it’s better for the profitability of the system
Quoting raklian
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.
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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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
Gold and GU are at decision level ... will it go down or up???
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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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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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Quoting Escpln
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}
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!
Quoting charli86
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}
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!
Quoting niks
{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!
Niks,Thank you for suggestion!
Make your own rules and stick to it.
The early Bird gets the Worm....
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eunzd took couple of pips...Big chances it will drop further, but can go up a bit more than drop again
Make your own rules and stick to it.
looking nice wins. before it didnot had big drop but when green boxes comes it was nice buy as cpfleger showed
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Pre setup....
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The 5 Pip Wonder....
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