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M1 Countertrend Scalping Strategy

  • #4,241
  • Mar 14, 2023 3:41am Mar 14, 2023 3:41am
UJ in preparation
  • #4,242
  • Mar 14, 2023 3:44am Mar 14, 2023 3:44am
Quoting cpfleger
Danielesse87, Do you see the zigzag Pip Number to the right of the candles above the last white Diamond? Wait for that number to paint above vertically the last candle and then exit. This number is counting the Pips between the last number (below the white Diamond at the bottom) and the actual present candle, smart Indi. cpfleger
you are right master but the rule is: exit at the EMA and for my mind it is difficult now to be more flexible. However, I followed the price after the exit to see when the number and the new box would come out. Actually I would have made many more pips
  • #4,243
  • Mar 14, 2023 3:50am Mar 14, 2023 3:50am
Danielesse87,
The EMA's are temporary Targets only, when you start to feel the Market by zooming inwards and watching the candle and wick sizes as stated in the RULES, you will know when to exit or not, really simple in theory but will require discipline on each trade.
cpfleger
  • #4,244
  • Mar 14, 2023 3:59am Mar 14, 2023 3:59am
Hi guys,
I've been recording my trading on the another forum journal section ,nothing to say "smart" here so not to bother you anymore ...Thank you all again for this great thread.
Couple of things that I records that seems important, more-less ,but giving me complete picture... Time of the day is important as well, time where we see this great aggressive movements, is it beginning of 1h candle ,is it after 30 minutes, is it Lo open, lunch time,Ny open,news time ,seems better and valid poi are after 30 minutes, and if price "stretch" complete hour and reaching our poi it is also good sign, for me become essential to wait more, must wait more for better entry and smaller dd with less fear ...For example,yesterday I forecast wti reaction from levels 73.26 and 72.74,and I took the trade from 72.74 and exit fast, but real poi was a bit lower at the low from 6th of February 72.23,anyway,why looking at the pois at that time,because, just look how price behave and run to visit that zones.
Another trade that I took yesterday was ea,forcasted that price will fall more aggressively down ,than reaction, why,because 1h tf running to tap at that zone, around 30 minutes mark of 1h candle,also 5min gives fake moves up than collapsed ,and than I made 75 pips in around 30 minutes as I waited, waited that price go more agressivlly down to my second poi...
I am making like this lately,i say to myself, if enter here than price would collapse more down/up,and if that happen it is good if I not open trade,because if not waited I would be in big dd like before ,and now I wait and "imagine" myself already in dd and what would I do, i wait more and executing trade at the spot where probably would be my third or fourth charging up in dd trades ,I do not know if you understand me,this morning I forecast eurcad reaction at Lo open ,but my point of interest is lower and I missed oportunity(why, because again, mind was telling this ,if enter now "maybe" I got big dd and must pul myself from the hole, if I am wrong than ok So but essential becomes to wait, even if missed, it is ok, another opportunity will arise anyway and I am not chasing trades anymore
I wish you guys all the best
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Make your own rules and stick to it.
  • #4,245
  • Mar 14, 2023 4:35am Mar 14, 2023 4:35am
Quoting Danielesse87
UJ in preparation
I took a handful of pips here too but I closed everything early because I have to get away from the pc. Prolific morning with 0.82% of my account. see you soon
  • #4,246
  • Mar 14, 2023 5:50am Mar 14, 2023 5:50am
Quoting erod84
My progress in first 14 days (2 weeks of trading my first $300k funded account at TFT) I'm not showing this to impress you but to impress UPON you what's possible with this system. I'm not ostentatious or like to flash lambos or rolex watches, so this is the only time i'll show a balance like this. It's purely for motivation only. I traded nothing but this 100% that Abade, cpfleger, and KOF teach.. the only modification i implemented in my strategy is: 1 ) SMC concepts. Using daily/4hour/1hour order block levels to trade around using signals from...
Thank you for sharing! Its really a big help to motivate for us. Btw, do you trade multiple entries in one setup?
  • #4,247
  • Mar 14, 2023 5:55am Mar 14, 2023 5:55am
Quoting zozon99
Today's trading stats, from a mobile phone, is not easy... and a letter from MyForexFounds... {image} {image}
Congratulation! Is it a 10K account? How many trading days? and how much is your daily goal? You both inspired me to get the challenge soon.
  • #4,248
  • Mar 14, 2023 7:51am Mar 14, 2023 7:51am
I made a grave mistake. I was watching AUDCHF and didn't see any news coming in the indicator but at 13.30 there was actually GPB news. I was in a short trade before the news and it went well because I made a big profit but it could have gone really bad
  • #4,249
  • Edited 9:00am Mar 14, 2023 8:06am | Edited 9:00am
I did some smaller trades today as i've already hit my weekly goal. Both GU & UC were done on cpfleger's template 1 min timeframe signals only. They can work in themselves without any other confluence.

update: 9:56am est. Took some small gbpjpy trades. I’m now done for today. All were 100% cpflegers template on 1 min chart today.
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  • #4,250
  • Mar 14, 2023 8:16am Mar 14, 2023 8:16am
Quoting erod84
My progress in first 14 days (2 weeks of trading my first $300k funded account at TFT) I'm not showing this to impress you but to impress UPON you what's possible with this system. I'm not ostentatious or like to flash lambos or rolex watches, so this is the only time i'll show a balance like this. It's purely for motivation only. I traded nothing but this 100% that Abade, cpfleger, and KOF teach.. the only modification i implemented in my strategy is: 1 ) SMC concepts. Using daily/4hour/1hour order block levels to trade around using signals from...
Outstanding! Nice work. And no losses, super impressive!
Thanks for sharing. I failed my challenge and dumped $1K down the toilet. Beyond not trading well enough and letting hedges get out of control I experienced multiple excessive slippage events ( on the order of thousands lost) using My Funded FX making it feel a bit rigged/unfair. Not going to give them a try again.
Still cheering you on to make the video you have been talking about.
  • #4,251
  • Mar 14, 2023 8:45am Mar 14, 2023 8:45am
watching CADJPY
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  • #4,252
  • Mar 14, 2023 9:04am Mar 14, 2023 9:04am
GJ should go
  • #4,253
  • Mar 14, 2023 9:14am Mar 14, 2023 9:14am
Quoting Danielesse87
{quote} The problem I think is that not everyone can be accurate in identifying POIs with precision. The fear that the drawn POI will be ignored is always present. I speak for myself. My small $200 account has been in profit every day since I've been using this method but the fear of getting caught in a beakout is always there.
The POI and SMC concepts as I’ve told you gents are a “confluence” it gives you an idea of what to expect entering the area. If bearish (sells), you’ll see a last bullish order block before a huge sell off. If bullish (buys), you’ll see a last bearish order block before an aggressive run up.

You then verify the signal with cpflegers template. I like to use 5 min myself.. how many years since I’ve been doing this? With ZERO drawdown or breakouts? May 2021 I’ve been profitable day in and day out using KOF strategy with smart money concepts. It’s up to you! Does fear rule you?

By the way, did you know the creator of the universe said in the Holy Bible “the fearful won’t inherit the kingdom of God” This is your daily nugget.
  • #4,254
  • Mar 14, 2023 9:20am Mar 14, 2023 9:20am
Quoting HitTheBid
{quote} Look for price to run hard into your POI. erod84 has also mentioned this. Even if it is not the "true" turning point of the move, price will often turn to bring traders and liquidity into the market before retesting the POI. Take your quick pips and reevaluate on a possible retest.
Amen! Thank you. The harder and faster it enters the POI the more I load up. As KOF also says “you have to develop a sense of the market” I couldn’t agree more. To me, I have a sixth sense that I know with confidence where my levels play out if they align with the template. Get your 5-10 pips a day and go take your wife out to lunch or play tennis.. and or study material to sharpen yourself.
  • #4,255
  • Mar 14, 2023 10:13am Mar 14, 2023 10:13am
Quoting mario777
{quote} Congratulation! Is it a 10K account? How many trading days? and how much is your daily goal? You both inspired me to get the challenge soon.
Thank you, it's a small account, I bought it on the first of this month, and my only goal is to make it last as long as possible, because if I blow out, I don't buy another one until next month... that's the maximum I allow myself to spend on forex. ..
  • #4,256
  • Mar 14, 2023 10:18am Mar 14, 2023 10:18am
Quoting erod84
{quote} The POI and SMC concepts as I’ve told you gents are a “confluence” it gives you an idea of what to expect entering the area. If bearish (sells), you’ll see a last bullish order block before a huge sell off. If bullish (buys), you’ll see a last bearish order block before an aggressive run up. You then verify the signal with cpflegers template. I like to use 5 min myself.. how many years since I’ve been doing this? With ZERO drawdown or breakouts? May 2021 I’ve been profitable day in and day out using KOF strategy with smart money concepts....
the concept and theory of POI is clear. however it is not always easy to identify it in the graph. sometimes it's a single small candle between two long candles...sometimes it doesn't come as a candle but with wicks...other times it's the low/high of a swing. this variability determines subjectivity. Operating without stop loss it is normal to be afraid to make a mistake. I guess this only goes with experience. Thanks a lot erod
  • #4,257
  • Mar 14, 2023 10:25am Mar 14, 2023 10:25am
Quoting erod84
{quote} The POI and SMC concepts as I’ve told you gents are a “confluence” it gives you an idea of what to expect entering the area. If bearish (sells), you’ll see a last bullish order block before a huge sell off. If bullish (buys), you’ll see a last bearish order block before an aggressive run up. You then verify the signal with cpflegers template. I like to use 5 min myself.. how many years since I’ve been doing this? With ZERO drawdown or breakouts? May 2021 I’ve been profitable day in and day out using KOF strategy with smart money concepts....
the concept and theory of POI is clear. however it is not always easy to identify it in the graph. sometimes it's a single small candle between two long candles...sometimes it doesn't come as a candle but with wicks...other times it's the low/high of a swing. this variability determines subjectivity. Operating without stop loss it is normal to be afraid to make a mistake. I guess this only goes with experience. Thanks a lot erod
  • #4,258
  • Edited 1:02pm Mar 14, 2023 10:45am | Edited 1:02pm
I'd recommend to try using Imbalances/FVGs instead or in addition to order block. You will be surprised how often price reacts sharply to them, even down to the 15s charts - how do i know? I take entries on 15s chart to target 1m, 5m and 15m liquidity. Or at least i try to. If you're doing KOF style counter-trend, target the relevant ema.

Try this dude's (TTrades) playlist. Filled with clear and concise explanations which are only a few mins long per concept. Then go practise drawing some zones (i use Imbalance/FVGs, superior to orderblock imo) and see how they work out.

The general concept is:

  1. Wait for HTF liquidity to be taken out to one side (target swing points, equal highs/lows)
  2. Price should reverse with displacement (strong candles), creating imbalance (POI)
  3. Should break structure, signifying a change in trend (also known as QM or Quasimodo pattern or the more modern CHoCH / Change of Characeter)
  4. Apply entry model (LTF entry, cpfleger template, etc)

I've practised SMC in the past but it never quite worked out for me. Probably due to my poor understanding of liquidity. However, this TTrades dude explains it very clearly and beautifully, even on a 15s chart. I'm trying to create a model to see how I can use 15s chart zones to trade countertrend, albeit with stoplosses back to the 80ema (which equals to 20ema on M1). This is just to keep me occupied between waiting for HTF pois. Afterall, this is a M1 countertrend thread, not an ICT/SMC thread. But this thread is really getting interesting with various concepts being pooled to create something greater than the sum of them.

Cheers to @Abade again!

Leave the Gun, Take the Armani
  • #4,259
  • Edited 11:28am Mar 14, 2023 11:05am | Edited 11:28am
Here's a markup of today, late NY session of EURUSD 15s chart. I'm just marking some obvious liquidity zones and imbalances. EMA is 80 (to represent 20 on M1). You would set a limit either at the edge or if you're feeling frisky, 50% of the imbalance zone with stop above the recent or below the recent low. Trade to the 80ema. These are roughly 1:1 RR but because of commissions, should be lesser.

If you want to average down, average down as price approaches a HTF FVG. More likely to see a strong reaction to not only recover the trades but propel to big profits.

P.S. I'm not a SMC master so please don't @ me to point out why i drew the zone this way or that way or why I didn't mark this zone or that zone. I'm merely highlighting the possibilities of this M1 countertrend style.
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Leave the Gun, Take the Armani
  • #4,260
  • Mar 14, 2023 11:27am Mar 14, 2023 11:27am
More 15s imbalances in action.
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Leave the Gun, Take the Armani
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