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M1 Countertrend Scalping Strategy

  • #2,341
  • Jan 30, 2023 8:55am Jan 30, 2023 8:55am
look us500,beautiful
Make your own rules and stick to it.
  • #2,342
  • Jan 30, 2023 9:05am Jan 30, 2023 9:05am
charli86,
I thought you were going to reduce looking and focus on 3 or less Instruments.
cpfleger
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  • #2,343
  • Jan 30, 2023 9:17am Jan 30, 2023 9:17am
Quoting cpfleger
charli86, I thought you were going to reduce looking and focus on 3 or less Instruments. cpfleger {image}
cpfleger,i was thinking also, but watching extremes on all currencies all the time, look us500 ,price must fall
Make your own rules and stick to it.
  • #2,344
  • Jan 30, 2023 9:20am Jan 30, 2023 9:20am
Quoting charli86
{quote}cpfleger,i was thinking also, but watching extremes on all currencies all the time, look us500 ,price must fall
Please, never think that price must do anything...it can trend in one direction longer than you think. Just my 2 cents.
  • #2,345
  • Jan 30, 2023 9:24am Jan 30, 2023 9:24am
euaud same thing, locked in profit ema 20
Make your own rules and stick to it.
  • #2,346
  • Jan 30, 2023 9:26am Jan 30, 2023 9:26am
Quoting Olarion1975
{quote} Please, never think that price must do anything...it can trend in one direction longer than you think. Just my 2 cents.
yes yes of course, if price do not fall I make new entry but overall exit near ema 100 or 50 or 20,loss or profit...
Make your own rules and stick to it.
  • #2,347
  • Jan 30, 2023 9:28am Jan 30, 2023 9:28am
Quoting Olarion1975
{quote} Please, never think that price must do anything...it can trend in one direction longer than you think. Just my 2 cents.
.. and price have a underlying nature if you able to see it. Most systems ignore that part and catch only a small piece of it. It is like a blind fly in clouds.
Perfection is the enemy of good enough!
  • #2,348
  • Jan 30, 2023 9:32am Jan 30, 2023 9:32am
I backtested a lot, like for years for months...I am sure and very aware of that that price can do anything that price wants,, one must put hard stops as well I think.Also every time I enter I always have that feeling like I am staring in deep pit...
Make your own rules and stick to it.
  • #2,349
  • Jan 30, 2023 9:37am Jan 30, 2023 9:37am
Quoting charli86
I backtested a lot, like for years for months...I am sure and very aware of that that price can do anything that price wants,, one must put hard stops as well I think.Also every time I enter I always have that feeling like I am staring in deep pit...
Why we can see over and over trends? Price action is not so random, if you look from an other perspective.
Perfection is the enemy of good enough!
  • #2,350
  • Jan 30, 2023 9:50am Jan 30, 2023 9:50am
Quoting MichaelSch
{quote} Why we can see over and over trends? Price action is not so random, if you look from an other perspective.
My backtest was involving staring at charts for so long ,like majority here ,and took notes where I could enter the market or not, and why ,when this thread introduced I realised some missing things ,building positions ,targets ,and how much one can suffer if trade goes wrong etc...Always tried to use some indicators,oscilators ,but actually when I drop those and not relay on them so much, my trading got better ,we will see,it is long marathon ....It is not so random,i remember RickM and other guys got that very nicely described....Also you have very nice overview of the market, was reading your threads as well....
Make your own rules and stick to it.
  • #2,351
  • Jan 30, 2023 10:01am Jan 30, 2023 10:01am
Watching EURAUD
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  • #2,352
  • Jan 30, 2023 10:10am Jan 30, 2023 10:10am
Quoting josh1111
Watching EURAUD {image}
big chance
Make your own rules and stick to it.
  • #2,353
  • Jan 30, 2023 10:25am Jan 30, 2023 10:25am
Quoting charli86
{quote}big chance
First attempt at this strategy
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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #2,354
  • Jan 30, 2023 10:42am Jan 30, 2023 10:42am
Quoting cpfleger
charli86, While your taking a break, the Pip Counter Indicator (bottom right) needs correcting as your showing long and short, see settings. Also the 6 MA should be a 6 LWMA, Closed and Shifted 2 to hug the candles. cpfleger
cpfleger,i am still using my wife MacBook,when I download indicator it messed up,and then I have to rename it, find it, find meta folder, paste there, and sometime not working,tooo much headache ,but seems this small Mac working nicely for me as it is....Today not so bad, more trades to come to get used to this approach...All the best
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Make your own rules and stick to it.
  • #2,355
  • Jan 30, 2023 10:47am Jan 30, 2023 10:47am
Quoting Seabreeze
{quote} First attempt at this strategy {image}
I think that "aggressive" fake move up was not so good(the place where you put your first order,)price may reverse ,but not yet I think, soon, because of that I exited eugbp more less same setup as soon when I was in profit....
Make your own rules and stick to it.
  • #2,356
  • Jan 30, 2023 10:51am Jan 30, 2023 10:51am
josh1111,
good wait, should be a good buy.

Seabreeze,
why do add to the first trade position ? If you have read the post to manhan, I told him to honor the 3 Candle Rule, if you did your trade would have been a winner with only one position, practice simplicity (The Process) and not profits.

charlie86,
equipment does matter and I would bet the majority of traders fail to clean their MT4 platforms weekly, makes a big difference in performance.

cpfleger
  • #2,357
  • Jan 30, 2023 10:56am Jan 30, 2023 10:56am
Pre setup on OIL.
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  • #2,358
  • Jan 30, 2023 11:00am Jan 30, 2023 11:00am
In this example UJ got away from me and I acted fast bringing everything into profit in the end.
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  • #2,359
  • Jan 30, 2023 11:10am Jan 30, 2023 11:10am
josh1111,
good reaction BUT I would prefer less stress mode...
cpfleger
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  • #2,360
  • Jan 30, 2023 11:15am Jan 30, 2023 11:15am
Quoting cpfleger
josh1111, good reaction BUT I would prefer less stress mode... cpfleger {image}
ok thanks for the input. Looking back at that one I could have just sat on it and done better anyway.
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