Attachments: M1 Countertrend Scalping Strategy

M1 Countertrend Scalping Strategy

#4,461
Mar 22, 2023 9:14am Mar 22, 2023 9:14am

ART2498
| Joined Mar 2023 | Status: Trader | 17 Posts

Okay, Here's the score card for Day 3 of testing.
So in order thats ;
Day 1 - $52
Day 2 - $82
Day 3 - $102 of net profits for the day.
Which brings me to a final balance of $636.29 from my starting $400 balance.

NOTES

I am using a standard account, so no commissions. (had some really wide spreads today)
Mainly traded Gold, the Yen, the Cable and the Aussie for the day with a few pips from other pairs.
Most success came from GOLD and the one slightly tough trend I had today (100 pips) was on gold as well.
With the experience from previous days + PA , I used slightly larger position sizes (0.05/0.06) compared to my normal sizes (0.01/0.02) to call HHs and LLs and had pretty good results except that tough one on gold.

Finishing up early today as I don't like trading close to the FOMC. SEE YA TOMORROW !!!

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#4,462
Edited 12:09pm Mar 22, 2023 11:56am | Edited 12:09pm

Seabreeze
| Joined Aug 2011 | Status: Trader | 606 Posts

Still quite a bit of activity with the news tonight. Trade safely everyone.

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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger

#4,463
Mar 23, 2023 1:19am Mar 23, 2023 1:19am

rafibd
| Joined Feb 2016 | Status: Happy Trading guys... | 33 Posts

have any mobile version of this system

#4,464
Mar 23, 2023 1:38am Mar 23, 2023 1:38am

Chucun
| Joined Dec 2022 | Status: Trader | 145 Posts

Gold and UJ. My favorite pairs to trade. I only focus on these two pairs.
Good night.

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#4,465
Mar 23, 2023 1:40am Mar 23, 2023 1:40am

Seabreeze
| Joined Aug 2011 | Status: Trader | 606 Posts

Todays breakfast trade. A nice cup of Yorkshire tea, a slice of toast and few gold nuggets before work. Have a great day everyone.

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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger

#4,466
Mar 23, 2023 1:44am Mar 23, 2023 1:44am

Seabreeze
| Joined Aug 2011 | Status: Trader | 606 Posts

Quoting Chucun

Disliked

Gold and UJ. My favorite pairs to trade. I only focus on these two pairs. Good night. {image} {image}

Ignored

Well done Chucun

Very nice.

Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger

#4,467
Mar 23, 2023 5:38am Mar 23, 2023 5:38am

Cr4zy
| Joined Jan 2012 | Status: Fr0g | 229 Posts

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#4,468
Mar 23, 2023 7:03am Mar 23, 2023 7:03am

ART2498
| Joined Mar 2023 | Status: Trader | 17 Posts

Okay, Here's the score card for Day 4 of testing.
So in order thats ;
Day 1 - $52
Day 2 - $82
Day 3 - $102
Day 4 - $82.81 of net profits for the day.
Which brings me to a final balance of $719.10 from my starting $400 balance.

NOTES
All testing conditions are same as yesterdays...
Most success came from GOLD and The Yen , No tough trends today, total smooth sailing. With more clinical entries, going with slightly larger position sizes of 0.04/0.05. ( But I am very quick and decisive in cutting my losses = very small DD till now, less than 10% in all cases)

Finishing up early today , Unavoidable Family Gathering, the kind that bores you to death...... SEE YA TOMORROW !!!

Posting one of my trades below as well, it went well...

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#4,469
Mar 23, 2023 8:02am Mar 23, 2023 8:02am

Cr4zy
| Joined Jan 2012 | Status: Fr0g | 229 Posts

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#4,470
Mar 23, 2023 8:34am Mar 23, 2023 8:34am

kleybenny
Joined Apr 2014 | Status: learning... | 511 Posts

Quoting ART2498

Disliked

Okay, Here's the score card for Day 4 of testing. So in order thats ; Day 1 - $52 Day 2 - $82 Day 3 - $102 Day 4 - $82.81 of net profits for the day. Which brings me to a final balance of $719.10 from my starting $400 balance. NOTES All testing conditions are same as yesterdays... Most success came from GOLD and The Yen , No tough trends today, total smooth sailing. With more clinical entries, going with slightly larger position sizes of 0.04/0.05. ( But I am very quick and decisive...

Ignored

Nice work

. You said that you are very strict with cutting loses. Can you explain how you do this please? Would like to hear your approach. Thank you for sharing.

#4,471
Mar 23, 2023 8:37am Mar 23, 2023 8:37am

Cr4zy
| Joined Jan 2012 | Status: Fr0g | 229 Posts

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#4,472
Mar 23, 2023 10:44am Mar 23, 2023 10:44am

Abade
Joined Aug 2016 | Status: Trader | 536 Posts

Awesome performance traders, I commend you on your hard work!

Be aware of upcoming announcements and volatility spikes. The Fed keeps rising interest rates, even more small banks may start to blow up

Quoting rafibd

Disliked

have any mobile version of this system

Ignored

Mobile versions of MT4 and MT5 won't allow any custom indicators as far as I know. You can still play around with different EMAs for the vanilla KoF experience.

#4,473
Mar 23, 2023 12:00pm Mar 23, 2023 12:00pm

josh1111
| Joined Nov 2022 | Status: Trader | 793 Posts

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#4,474
Edited 1:37pm Mar 23, 2023 1:11pm | Edited 1:37pm

Seabreeze
| Joined Aug 2011 | Status: Trader | 606 Posts

A sneaky little tea time trade.

Well done everyone today

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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger

#4,475
Mar 23, 2023 2:31pm Mar 23, 2023 2:31pm

uksoundz
| Joined Aug 2011 | Status: Trader | 24 Posts

Quoting cpfleger

Disliked

ART2498, Firstly, welcome on board and all Indicators either repaint or lag as all Trading Platforms MUST collect data before an Indicator can paint or repaint or lag. Sometimes we even forget about Price as it bounces too, so nothing is perfect. But once you accept this little factoid it becomes easier. As for runways or tough trades as KoF calls them, remember this little tip - a trend will pullback / reverse at least 3 times before it commits to a real reversal (countertrend). This is based on averaging data, so remember this tip too - Forex...

Ignored

Hi cpfleger, love this thread, you can tell because I'm a man of few words here on FF yet I've been a member for decades! Quick question, I've downloaded all your templates and they work fine, however it seems to have stopped my EA Magic Keys, which I use to manage trades, do you know why that might be? It looks fine, the smiley face is in the corner, but it won't open any trades.

#4,476
Mar 23, 2023 10:41pm Mar 23, 2023 10:41pm

Chucun
| Joined Dec 2022 | Status: Trader | 145 Posts

1st trade of the day/evening for me. Close slightly before TP.

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#4,477
Mar 23, 2023 10:43pm Mar 23, 2023 10:43pm

Chucun
| Joined Dec 2022 | Status: Trader | 145 Posts

Quoting uksoundz

Disliked

{quote} Hi cpfleger, love this thread, you can tell because I'm a man of few words here on FF yet I've been a member for decades! Quick question, I've downloaded all your templates and they work fine, however it seems to have stopped my EA Magic Keys, which I use to manage trades, do you know why that might be? It looks fine, the smiley face is in the corner, but it won't open any trades.

Ignored

Hey UKsoundz,
I've been thinking about getting magic keys. What are your thoughts?