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M1 Countertrend Scalping Strategy

  • #2,361
  • Jan 30, 2023 11:17am Jan 30, 2023 11:17am
josh1111,
If you add a 3 Pip TSL your win performance will go up and pennies will make pounds.
85% Plus is your goal.
cpfleger
  • #2,362
  • Jan 30, 2023 11:22am Jan 30, 2023 11:22am
Pre setup....
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  • #2,363
  • Jan 30, 2023 11:24am Jan 30, 2023 11:24am
Quoting cpfleger
josh1111, If you add a 3 Pip TSL your win performance will go up and pennies will make pounds. 85% Plus is your goal. cpfleger
Will do I am focusing alot on tuning in the Trailing Stop. I think your right about 3 pips is the magic number for the trailing start. Then a tight trailing stop after that with tight steps as well. I am also thinking about locking in a few TP's at 1 pip with some of the Autoscaler add on trades. Working on programming those features at the moment.
  • #2,364
  • Jan 30, 2023 11:28am Jan 30, 2023 11:28am
josh1111,
your learning my man....
cpfleger
  • #2,365
  • Jan 30, 2023 11:32am Jan 30, 2023 11:32am
Samuels & Co - UK Hedge Fund - just awarded me a 25k live account using this methodology / EMA Strategy over the last 2 weeks.
Thanks Abade for letting me perfect my system.
cpfleger
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  • #2,366
  • Jan 30, 2023 12:12pm Jan 30, 2023 12:12pm
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.



Thanks Cpfleger I am still reading the 100 pages and practising on a demo as I go through it to get a feel . just posted this up looking for constructive criticism. thank you for your guidance.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #2,367
  • Jan 30, 2023 12:19pm Jan 30, 2023 12:19pm
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  • #2,368
  • Jan 30, 2023 12:21pm Jan 30, 2023 12:21pm
josh1111,
el perfecto
cpfleger
  • #2,369
  • Jan 30, 2023 12:21pm Jan 30, 2023 12:21pm
Quoting cpfleger
Samuels & Co - UK Hedge Fund - just awarded me a 25k live account using this methodology / EMA Strategy over the last 2 weeks. Thanks Abade for letting me perfect my system. cpfleger {image}
Wow, do you want to do it?
I am sure you could get FTMO and many others if you so decided.
There are a ton of Prop firms now.
  • #2,370
  • Jan 30, 2023 12:26pm Jan 30, 2023 12:26pm
josh1111,
thanks and very true but they all have different admission fees, Samuels & Co is the cheapest at 150 GBP and paid monthly...
I like testing my old self...
cpfleger
  • #2,371
  • Jan 30, 2023 12:27pm Jan 30, 2023 12:27pm
Quoting cpfleger
Pre setup.... {image}
The templates you posted seems to be missing you new coolguy volume indicator setup.
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  • #2,372
  • Jan 30, 2023 12:35pm Jan 30, 2023 12:35pm
Quoting Given1988
Hi, I've been following this thread for a while and I understand the strategy, which will eventually tend to burn the account, but the whole thing could work well enough to use an account, let it grow for a while, and make continuous withdrawals until it burns. My question is: Has anyone who has been using it since the beginning, a history of how often the account burns and how long the positive streak lasts?
Hi Given1988! I don't recommend you mentalize yourself to wait until it "burns". You can do a lot of things to improve survivability before that happens:

- Use reasonable lot size vs account size.
- Limit the number of entries.
- Have a soft stop loss (% of your equity).
- Learn to exit fast, don't let it bounce off the EMAs.
- Have a "last chance" market exit such as the 200 EMA and don't let price bounce off it or expect that price has to "break-even" for the sake of your account.
- Trade "chop-friendly" markets, avoid "momentum-friendly" (i.e: Commodities and commodity based economies or GBPJPY).
- Understand most runaways happen just after high impact news/events, so don't trade against them (I know most traders will do it anyways).
- Avoid rectangle formations and instances where price is bouncing against the same support/resistance multiple times, specially in low volatility environments as it's (most likely) getting ready to breakout.
- Avoid trading just after the faster EMAs are crossing the 200, delay your entries.
- Backtest markets separately as they all have their own personalities, even when they are highly correlated.

A fixed stop-loss will hurt your performance really bad. If you really want to use them I recommend looking for a momentum strategy and ignore this one altogether.
  • #2,373
  • Jan 30, 2023 12:41pm Jan 30, 2023 12:41pm
josh1111,
latest Template.
cpfleger
Attached File(s)
File Type: tpl EMA Strategy with Rules Feb 2023.tpl   79 KB | 355 downloads
  • #2,374
  • Jan 30, 2023 12:49pm Jan 30, 2023 12:49pm
Hi Abade,how it is going mate? Some new insights regarding your thread?
Make your own rules and stick to it.
  • #2,375
  • Jan 30, 2023 1:16pm Jan 30, 2023 1:16pm
Quoting charli86
Hi Abade,how it is going mate? Some new insights regarding your thread?
Hello my friend! The only insight for now is the fact that people who want to make it work will make it work eventually, or will be pointed in another (more advantageous) direction or approach, so I am very happy in that regard.

I guess we have to endure the negativity of some of the comments, just as we have to endure the ups and downs of the market.
  • #2,376
  • Jan 30, 2023 1:25pm Jan 30, 2023 1:25pm
Quoting cpfleger
Samuels & Co - UK Hedge Fund - just awarded me a 25k live account using this methodology / EMA Strategy over the last 2 weeks. Thanks Abade for letting me perfect my system. cpfleger {image}
My friend Cpfleger, congratulations! I researched Samuel & Co Trading a bit and was surprised to see that he even has a show running:

Inserted Video


The reviews I read were mostly positive, the company has good reputation.

I wish you the highest success in this new adventure, and I am guessing we will be seeing you in the series "The Real Forex Trader"??

Let us know how it goes! Best regards.
  • #2,377
  • Edited 1:52pm Jan 30, 2023 1:39pm | Edited 1:52pm
Down the rabbit hole.
Felt it was time to switch to trend. Took buys, made profits now looking ready to reverse.
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  • #2,378
  • Jan 30, 2023 1:50pm Jan 30, 2023 1:50pm
Quoting josh1111
Down the rabbit hole. Felt it was time to witch to trend. Took buys, made profits now looking ready to reverse. {image}
hi josh1111,to much pressure ithink,can easily aiming for high from 24. January
Make your own rules and stick to it.
  • #2,379
  • Jan 30, 2023 1:52pm Jan 30, 2023 1:52pm
Quoting Abade
{quote} Hello my friend! The only insight for now is the fact that people who want to make it work will make it work eventually, or will be pointed in another (more advantageous) direction or approach, so I am very happy in that regard. I guess we have to endure the negativity of some of the comments, just as we have to endure the ups and downs of the market.
Well said ,my friend...
Make your own rules and stick to it.
  • #2,380
  • Jan 30, 2023 1:54pm Jan 30, 2023 1:54pm
Quoting charli86
{quote}hi josh1111,to much pressure ithink,can easily aiming for high from 24. January
Or November high!
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