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M1 Countertrend Scalping Strategy

  • #3,581
  • Feb 23, 2023 6:14am Feb 23, 2023 6:14am
Hello everyone. I'm studying this forum and doing my tests on demo account. I would like to continue testing on a small real account but as a european resident as you know regular brokers offer a maximum leverage of 1:30. This is a problem for trading with this method. I was wondering if as a European citizen I can still open an account with a NON ESMA broker so I can use higher leverage. With 1:30 leverage and a small 200 USD account it would be really hard to margin. Thank you
  • #3,582
  • Feb 23, 2023 6:17am Feb 23, 2023 6:17am
Danielesse87,
Try the following Brokers;
IC Markets
Blueberry
FBS
FX Choice
There are over 1800 Brokers worldwide but be aware of un-regulated Brokers.
cpfleger
  • #3,583
  • Feb 23, 2023 6:40am Feb 23, 2023 6:40am
Pre setup.
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  • #3,584
  • Feb 23, 2023 6:51am Feb 23, 2023 6:51am
Quoting cpfleger
Danielesse87, Try the following Brokers; IC Markets Blueberry FBS FX Choice There are over 1800 Brokers worldwide but be aware of un-regulated Brokers. cpfleger
yes, I know many brokers too, this is not the problem. Sorry, maybe I didn't explain it well. I would like to know if there are legal problems if I were to open an account with non-European regulation. Thank you very much
  • #3,585
  • Feb 23, 2023 7:05am Feb 23, 2023 7:05am
come ti sembra cpfleger?
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  • #3,586
  • Feb 23, 2023 7:10am Feb 23, 2023 7:10am
Danielesse87,
Sorry but legal advice is not my specialty.
cpfleger
  • #3,587
  • Feb 23, 2023 7:13am Feb 23, 2023 7:13am
no problem master. Let's see if any of the guys on the forum can tell me more
  • #3,588
  • Feb 23, 2023 7:24am Feb 23, 2023 7:24am
Quoting cpfleger
Darrenchong, Firstly, the rules you wrote are slightly different than the Rules defined within V3 which is your screenprinted Chart. Follow the V3 Rules as this will get an good entry and then YOU must feel the Market as sometimes we may make a temporary Target of the 20 EMA but the Market reverses and we must EXIT quickly. You should never leave the computer once a trade is opened either. Practice these V3 Rules, one trade position until you have reached over 85% of winning trades and only then...
Hi cpfleger, thank you for you response. You definitely is my aim to be like one day down this trading road. I probably did not have a good understanding from the rules that are printed on the chart especially

point 6 watch candlebody/wick - what am I looking out for on this?

Point 7 exit on zz no. What's a zz no?

Lastly, can I also assume that there should be strictly no TP or SL as there isn't any stated on the rules. All trades should be exit based on point 7 otherwise 30 pips TSL, am I right?
  • #3,589
  • Feb 23, 2023 7:27am Feb 23, 2023 7:27am
eurchf poi 1 99100, 2. 300. 3. 400 ,we'll see what news bring first
Make your own rules and stick to it.
  • #3,590
  • Feb 23, 2023 7:27am Feb 23, 2023 7:27am
Pre setup.
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  • #3,591
  • Feb 23, 2023 7:28am Feb 23, 2023 7:28am
Gents,
The previous post has V4 System, please read the Rules and I await comments before distribution to the Forum.
cpfleger
  • #3,592
  • Feb 23, 2023 7:36am Feb 23, 2023 7:36am
Quoting Danielesse87
come ti sembra cpfleger? {image}
it's gone! Too bad because I was unable to add positions
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  • #3,593
  • Feb 23, 2023 7:41am Feb 23, 2023 7:41am
Quoting cpfleger
Gents, The previous post has V4 System, please read the Rules and I await comments before distribution to the Forum. cpfleger
Hi cpfleger, looks great, plenty of clear confirmation before entering trade

Thanks for all your hard work

Cheers, Baz
  • #3,594
  • Feb 23, 2023 7:44am Feb 23, 2023 7:44am
The rules are clear and objective, for my perfect wishing to try it. Thank you very much!!!
  • #3,595
  • Feb 23, 2023 7:53am Feb 23, 2023 7:53am
Quoting cpfleger
Gents, The previous post has V4 System, please read the Rules and I await comments before distribution to the Forum. cpfleger
I personally have not been able to use the previous versions. I don't digest HA candles. I find it "late". I prefer to use ordinary candles. I'm testing the overcoming of 50% of the last candle as a trigger. I find arrows or something "delayed". I take my trades within a 1H POI. I try to do it only in the direction of the 1H trend based on HH/LL. Just my two cents
  • #3,596
  • Feb 23, 2023 7:55am Feb 23, 2023 7:55am
Quoting Danielesse87
{quote} I personally have not been able to use the previous versions. I don't digest HA candles. I find it "late". I prefer to use ordinary candles. I'm testing the overcoming of 50% of the last candle as a trigger. I find arrows or something "delayed". I take my trades within a 1H POI. I try to do it only in the direction of the 1H trend based on HH/LL. Just my two cents
I forgot! In any case, I thank your work and that of other guys so much because you are an inspiration to find my style of trading
  • #3,597
  • Feb 23, 2023 7:57am Feb 23, 2023 7:57am
Quoting charli86
eurchf poi 1 99100, 2. 300. 3. 400 ,we'll see what news bring first
I do not know what happen but my terminal slowed sooo much during news, that ping was around 13-15 seconds, not possible to trade really, only took usdchf fast scalp for 5 pips, this was with pending orders, otherwise ,not possible...
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Make your own rules and stick to it.
  • #3,598
  • Feb 23, 2023 8:12am Feb 23, 2023 8:12am
and now all ok ping 1, 1,5 seconds' ..I deleted logs and history but can not be that, max bars are always around 5-10 k.Must be my wife mac,i hate Mac ,Anyway,was good opportunities
Make your own rules and stick to it.
  • #3,599
  • Edited 9:41am Feb 23, 2023 9:30am | Edited 9:41am
Some more coins… hope you gents grabbed some. For those not familiar, the 1 hour chart gave me an area of demand = where buyers orders are at. In confluence, all the triggers on cpfleger's template aligned up.. so what does that tell me? Shoot your shot.

On my MT4 commentary i meant "Sell Stops" sorry that was a typo. For every buyer, there's a seller. And for every seller there's a buyer. So sell stops = where banks will buy. Buy stops is where they will absorb the liquidity and sell.

"You have to slow your heart rate, stay calm. You have to shoot in between your heartbeats." -Chris Kyle American Sniper
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  • #3,600
  • Feb 23, 2023 9:46am Feb 23, 2023 9:46am
Some more commentary for usdjpy to help some...
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