M1 Countertrend Scalping Strategy | Page 188 | Forex Factory

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M1 Countertrend Scalping Strategy

  • #3,741
  • Feb 27, 2023 8:33am Feb 27, 2023 8:33am
The reasons I write down lead to discipline, and discipline + patience is what pays us traders consistently! And passes challenges like this.

I will now be a $600k funded trader. Passed my second $300k challenge.
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  • #3,742
  • Feb 27, 2023 8:48am Feb 27, 2023 8:48am
erod84,
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  • #3,743
  • Feb 27, 2023 8:55am Feb 27, 2023 8:55am
Back to basics
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  • #3,744
  • Feb 27, 2023 9:04am Feb 27, 2023 9:04am
Quoting erod84
The reasons I write down lead to discipline, and discipline + patience is what pays us traders consistently! And passes challenges like this. I will now be a $600k funded trader. Passed my second $300k challenge. {image}
Nice Job erod84!

Have these guys made good on sending you your first payout?
  • #3,745
  • Feb 27, 2023 9:08am Feb 27, 2023 9:08am
Quoting erod84
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. {image} {image}
I would like to ask how I can set the volume MA 20 indicator below.
Thank you for your selfless help!
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  • #3,746
  • Feb 27, 2023 9:19am Feb 27, 2023 9:19am
Quoting josh1111
{quote} Nice Job erod84! Have these guys made good on sending you your first payout?
They have a 30 day waiting period before first payout, however Im not sweating it. They are a legit prop firm.
  • #3,747
  • Feb 27, 2023 9:33am Feb 27, 2023 9:33am
Any views on EURUSD?
  • #3,748
  • Feb 27, 2023 9:35am Feb 27, 2023 9:35am
Terpinko
View, Navigator, Trend Folder, find Moving Average Indicator and grab using the mouse button and DRAG onto the Volumes Window.
Or find the Template V4 using the above Paperclip or see page 181.
cpfleger
  • #3,749
  • Feb 27, 2023 1:37pm Feb 27, 2023 1:37pm
People,
there was over 50 people watching and over the past few hours no posts... You guys bored or just do not trade ???
cpfleger
  • #3,750
  • Feb 27, 2023 3:17pm Feb 27, 2023 3:17pm
Quoting cpfleger
People, there was over 50 people watching and over the past few hours no posts... You guys bored or just do not trade ??? cpfleger
Well, I'll upload the results of today's test...
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  • #3,751
  • Feb 27, 2023 3:25pm Feb 27, 2023 3:25pm
Quoting cpfleger
People, there was over 50 people watching and over the past few hours no posts... You guys bored or just do not trade ??? cpfleger
Like and subscribe traders like and subscribe...you are most welcome.

I keep getting losses and you don't how come?

My charts don't look like yours...are you holding out or what?

All the indicators aren't in the zip files....Oh ..Ok..but but but...

But me no buts mister.......

I'm reminded of my 5yo grandson to his grandmother with regards to the multi function TV remote control "you'll never learn if you don't try it"

There's alot of "mum will you dress me " from FF members who have been on this site for 10+ years and still no idea about price action...very sad.

Obsessing over SLs .....If you're on the train tracks and a train is bearing down on you do you watch it until it hits you? No you get off the tracks same with SLs you can close a trade at anytime and re enter there's no shame in taking control of your trades.

The set and forget no losses mentality will lead to your demise....guaranteed

When I was a small boy we celebrated "Guy Fawkes Night" and it was here I received my rocketry diploma......

Light the fuse and stand back...that's IT.

Like and subscribe traders like and subscribe....

lpp

this is intended as a light hearted wink and a nod
I would like to die on Mars. Just not on impact..... Elon Musk
  • #3,752
  • Feb 27, 2023 11:12pm Feb 27, 2023 11:12pm
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...
Hi cpfleger,

Curious as to no stop? I understand KoF averages in. You have stated that 20EMA is hit 95% of the time when you enter. I assume you mean this 95% is hit in profit or BE. So there is the reward side of the equation which provides the risk side of the equation. Given this statistic one could employ a 3:1 RR and still be profitable/break even. I don't understand the allowance for a 50% DD given the data. I've stated earlier I personally employ an inverse 2:1 RR when scalping.

All that said, great thread, and really appreciate the time and input you have dedicated to it.
  • #3,753
  • Feb 27, 2023 11:13pm Feb 27, 2023 11:13pm
Quoting niks
{quote} 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% {image} {image} {image} {image}
Never say never
  • #3,754
  • Edited 1:44am Feb 28, 2023 1:25am | Edited 1:44am
Quoting HitTheBid
{quote} Never say never
i will - once i see a successful trader with a 100% record!

as for fixed stop losses never working with the KoF strategy, technically its true, because it is no longer the KoF strategy if stop losses are being used, it then becomes a different strategy

but i agree mate, generally in life we should never say never!!!

as for whether or not to use stop losses with KoF strategy, it certainly is a personal choice, and one in which i'm still developing, however, consider the following sequence where stop losses worked both ways in firstly being stopped out too early, but then saving me from greed, and then secondly where it hindered my short trades because i had TSL's set on them which got hit early until i had enough of stop losses and decided to cost average which was the best choice of all...

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every minute matters!
  • #3,755
  • Feb 28, 2023 1:44am Feb 28, 2023 1:44am
eurchf preparing
Make your own rules and stick to it.
  • #3,756
  • Feb 28, 2023 2:19am Feb 28, 2023 2:19am
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I would like to die on Mars. Just not on impact..... Elon Musk
  • #3,757
  • Edited 3:01am Feb 28, 2023 2:51am | Edited 3:01am
POI in area .88086 responded well

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AUDUSD also responded well
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  • #3,758
  • Feb 28, 2023 3:10am Feb 28, 2023 3:10am
Quoting charli86
eurchf preparing
exiting ema 20 ,5 min tf,with no loss no win
Make your own rules and stick to it.
  • #3,759
  • Feb 28, 2023 3:16am Feb 28, 2023 3:16am
eu 1.06364 interesting lvl.And 1.06628
Make your own rules and stick to it.
  • #3,760
  • Feb 28, 2023 3:16am Feb 28, 2023 3:16am
Quoting charli86
{quote}exiting ema 20 ,5 min tf,with no loss no win
charli86 please post a gif of the trade .

lpp
I would like to die on Mars. Just not on impact..... Elon Musk
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