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Attachments: M1 Countertrend Scalping Strategy
Exit Attachments

M1 Countertrend Scalping Strategy

Tom Hougaard's Latest Book quotation.
Thanks cpfleger You are an amazing guy
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Pre setup....
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Trade with TP and SL... If it hits the SL that's trading, if its TP that's trading.
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Quoting cpfleger
Gents, I normally do not use a SL, I added the SL feature to V4 / 5 to enable your guys to build more confidence. I have always use a very small lot size on the first trade position as defined in the RULES. On my wifes small account I can allow up to a 50% drawdown which does happen but very rare as the entry point is the most critical element to this Strategy. I have shown in the past a few losses, but I will show some if they happen this week. I still believe that the majority of you guys are entering too early like KoF does and I have stated...
Thank you for the answer. Let me please clear: do you use/feel the part of the system:
No SL (ready for DD with small amounts)
Or
Mental SL (just deciding when to close with lose)
Or
SL over ZZ numbers (and think it's still good and not breaking the system)
?
SL Hit....
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Quoting cpfleger
SL Hit.... {image}
Not a problem as it is.
But, as my little statistics show
this SL is to tight
or direct "MA6toMA20" price movement to rare for such tight SL.
That's my problem/fear/reason to change something in such a cool strategy
Quoting mario777
{quote}this strategy doesnt work with SL. As you can see KOF is not using SL he only add position and wait till profit. As he said its a skill . And you need big amount of equity too.
fixed stop losses will never work with this strategy, managing risk certainly requires skills, not sure equity has anything to do with it though. but certainly some days will be better than others and some days will be bad, but the primary goal is ALWAYS survival

when the market acts, we must react, sometimes we manage more aggressively, other times we cost average at leisure, only intuition can ever drive those actions successfully and we will NEVER get it right 100%


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since80808,
I know before I enter a trade what my risk to my present Balance is the maximum I can lose. Each Trader must know this fact before the speculation trade takes place.
Once I enter the trade I am aware of the risk and potential profit BUT I manage by feeling the Market movement via Volume and Candle Body / Wick size as the RULES state. Things change very quickly on lower TF's but I am not willing to play on higher TF's unless I use a bigger account Balance.

So I watch and stay focus by zooming inwards as the RULES state. As I have shown many times, I exit early than the MA's because I read the Candles.
cpfleger
Trend and mini pullbacks example.
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since80808,
Some very well known Traders state - 1 Candle is your SL point, some say SR Zone, some say HH or LL, choose your method but accept the fact you will lose a few trades but the real secret as other well known Traders would say - Managing Your Losses is how you make the money.
So which is correct ??? Your decision.How to you want to protect your account or survive today....YOUR DECISION.
But either way YOU must make your system and master it.
cpfleger
Quoting cpfleger
Trend and mini pullbacks example. {image}
Not following kof, only you, I've been entering after ha crossed ma6 + volume (I joined the train before you added "diamonds")
Quoting FearPuppy
Hi Abade, interesting idea. Let me briefly summarize your strategy: You wait until the moving averages have reached a decent distance and then look for entries (countertrend)? If my assumption is correct, I would recommend you to have a look at MacD or AO, because these two indicators were developed for a similar idea (as far as I remember correctly). I would worry less about ranging-markets with your strategy, because the moving averages do most of the work for you (if the 3 moving averages have enough distance, the volatility is high) The bigger...
how is going with this stragey? can you post snapshot once you entry and exit? thanks.
Hi gents, i just use exit ema 9 ,5min tf when all align that i already described, for weeks working so nice with levels that i use that shock me...I will be off for some time and get back soon... All the best
Quoting charli86
Hi gents, i just use exit ema 9 ,5min tf when all align that i already described, for weeks working so nice with levels that i use that shock me...I will be off for some time and get back soon... All the best
Ma9 - is TP as I understand, thank you. My main question and problem now is the SL. Can you please share your vision?
Sorry can't find your levels ideas. Described earlier?
Quoting since80808
{quote} Ma9 - is TP as I understand, thank you. My main question and problem now is the SL. Can you please share your vision? Sorry can't find your levels ideas. Described earlier?
I am on my phone right now, but yes, i am eager to hit ema 9 , if in dd and ema 9 hit i exit or wait price to hit between ema 9 and 20//// But i think erod84 will share video and summaries the idea with levels...What I am looking for actually https://www.forexfactory.com/thread/...4#post14334974

https://www.forexfactory.com/thread/...6#post14337776

It is a bit subjective and can not implement a pure mechanical approach...
josh1111,
welcome back, check your pm / email.
cpfleger
Quoting cpfleger
since80808, I know before I enter a trade what my risk to my present Balance is the maximum I can lose. Each Trader must know this fact before the speculation trade takes place. Once I enter the trade I am aware of the risk and potential profit BUT I manage by feeling the Market movement via Volume and Candle Body / Wick size as the RULES state. Things change very quickly on lower TF's but I am not willing to play on higher TF's unless I use a bigger account Balance. So I watch and stay focus by zooming inwards as the RULES state. As I have shown...
Amen! So well said.
What is your reason to open a trade? Here's mine:

1 ) GBP/USD entered a big supply area at 1.2020 on 1 hour / 15 minute chart

2 ) cpfleger template is telling me a drop is coming

This equals $1500 in profit for me this morning. Ask yourselves traders.. What is your reason to enter a trade? document and journal the reasons. Learn from your mistakes and refine! this is a business not a playground.
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Nice little strategy,

In and out in minutes. I like it
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