M1 Countertrend Scalping Strategy

cpfleger:

thank you again. Ready for phase 2 let’s smash it with this system.

erod84,
Excellent news, performance is for Kings and Lambo's are for Boys...
cpfleger

Amen brother! Lambos are for wannabes and little insecure boys

erod84,
I have something that purrs, lots of curves and taste sweet which is faster and slower than any Lambo...
cpfleger

do you use the same technique when joining the prop trading?

i have tried this as many as i can but the candle wont show

please someone should help me do the right thing
a brother is ineed of help

What you do in such conditions when price don't comeback were she supposed to come!?

Quick 5 pips ... only trade this week so far

start leaving larger gaps between your orders and maintain a manageable break even point - you will now have to aim for ema200, you are stuck in a tough trend, this where your risk management is tested - there's a few examples within this thread dealing with them in more detail

mansan,
Why do you trade the DE40 with a big spread and on a 1M TF ?
Kinda defeats the purpose of scalping when the spread eats up your small profits...
Recommend you trade forex with zero spreads to build your performance ratio.
cpfleger

cpfleger I am considering another prop firm option that has an option to have 400:1 leverage but has some trading rules in place that are not so compatible with this strategy:
Do you think adapting the strategy to just taking a loss on the trades that go against you and not cost averaging will still work?
Maybe it is not worth using them even though they are the only ones offering 400:1?
7.3.1. To protect our capital and help our traders succeed we must monitor every account for signs of gambling or reckless trading. Specifically looking for the following situations:
(a) Risking 100% or more of your drawdown limits in open trades.
For example, open trades totalling 5% risk if the traders max daily loss is 5%.
(b) Risking 50% or more of your drawdown limits in a single trade or across multiple trades on the same instrument.
For example, risking 2.5% on a single position if the traders max daily loss is 5%.
(c) Trading with no stop loss.
Traders must place a stop loss on EVERY trade within 60 seconds. If the trader leaves a trade unprotected for more than 60 seconds, or if a trade is closed without a stop loss, this is a breach.
First order today:

leave it i entered around 13.00

EC Setup

Cpfleger the spread was only 0.6,,, is this to big?

AU setup

entered AU

YUP

GBPCAD setup

YUP

cents