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M1 Countertrend Scalping Strategy

  • #4,501
  • Mar 24, 2023 10:57am Mar 24, 2023 10:57am
Seabreeze,
Close, entered too late, watch the Candle Timer and when a new candle starts to open on the MA Line (10 seconds down to 0 seconds), then hit that mouse button.
cpfleger
  • #4,502
  • Mar 24, 2023 10:58am Mar 24, 2023 10:58am
Daily Candle Challenge
Show me 2 consecutive daily candles with the same HH (Wick) and LL (Wick).... I am old and damn near blind but I cannot find any in this screenshot.
cpfleger
Attached Image (click to enlarge)
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  • #4,503
  • Mar 24, 2023 11:05am Mar 24, 2023 11:05am
Seabreeze,
If for any reason the new Candle open on the MA Line and then reverses, do NOT open a trade, wait 60 seconds for 1M TF or 4:59 Minutes for 5M TF, its best to use and abuse all 1 WICKED HA CANDLES as they are your friend's.
cpfleger
  • #4,504
  • Mar 24, 2023 11:09am Mar 24, 2023 11:09am
Entry example.
Attached Image (click to enlarge)
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  • #4,505
  • Mar 24, 2023 11:11am Mar 24, 2023 11:11am
Quoting cpfleger
Seabreeze, If for any reason the new Candle open on the MA Line and then reverses, do NOT open a trade, wait 60 seconds for 1M TF or 4:59 Minutes for 5M TF, its best to use and abuse all 1 WICKED HA CANDLES as they are your friend's. cpfleger
Ok just got this message.

This any better. didn't enter first green because of slight double wick.
these are just for learning purposes.
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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #4,506
  • Mar 24, 2023 11:11am Mar 24, 2023 11:11am
Quoting cpfleger
MichaelSch, Show me 2 consecutive Daily Candles with the same HH and LL and I will believe you.... wick to wick my man, sideways is a Human Term. cpfleger
Sorry you got my point not. It is not important. You can box say 10 minute candle and how many candle drive the border further and how many candle only play in the box?
Can you do this? Show me a box of 10 candles every candle drive the box further and this in a row from 10 boxes in follow so you not cherrypick one to your point.
It is the view that counts. It is up to me if i make boxes or look every candle single.
So now hope you can show me a example.
Perfection is the enemy of good enough!
  • #4,507
  • Mar 24, 2023 11:13am Mar 24, 2023 11:13am
Example of 1 Wicked Candle and 3 Candles exiting.
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 241 KB
  • #4,508
  • Mar 24, 2023 11:28am Mar 24, 2023 11:28am
Quoting cpfleger
Example of 1 Wicked Candle and 3 Candles exiting. {image}
Oh yes, I think you have a 9MA there I was still using 4Ma Corrected now.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #4,509
  • Mar 24, 2023 11:33am Mar 24, 2023 11:33am
Quoting cpfleger
javipenjamo, I guess you did not read my messages today. So, due to the factoid I have watched all of KoF's video's over and over - he clearly states that only open one trade position with a small lot size until you build your account balance up enough to enable negative cost averaging which no one here seems to grasp lately. You cannot add until you learn the Process of The Market. So as I have said for over 2 years since I learned from KoF, I use a small lot size and I can handle the DD even on my wife's very small balance account and then I use...
Hi Cpfleger,

Please elaborate on "2 colors, 2 arrows, 2 supply/demand boxes". I understand your rules and have been trading it successfully, but don't follow the 2 colors...etc.

Thanks
  • #4,510
  • Mar 24, 2023 11:34am Mar 24, 2023 11:34am
Seabreeze,
Yes, my error..... 9 LWMA Shifted 2 and Closed.
cpfleger
  • #4,511
  • Mar 24, 2023 11:36am Mar 24, 2023 11:36am
Big Picture...
Attached Image (click to enlarge)
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  • #4,512
  • Mar 24, 2023 12:59pm Mar 24, 2023 12:59pm
Quoting cpfleger
Big Picture... {image}
I've had a go just now, maybe a candle late, but love the idea.
Red arrow moving away from resistance, red candle crossing EMA, no wick above, entry, exit on third, SL at swing high (if req)

Attached Image (click to enlarge)
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  • #4,513
  • Mar 24, 2023 1:10pm Mar 24, 2023 1:10pm
uksoundz
Correct trade young man... now learn how to bounce Price from supply to demand, simple.
cpfleger
  • #4,514
  • Mar 24, 2023 1:17pm Mar 24, 2023 1:17pm
Chucun
Sorry for the late reply... 2 colors (Red and Green), 2 directions (Up or Down), 2 Arrows (Red or Green) 2 Supply and Demand Boxes (red or Green).
Simple.
cpfleger
  • #4,515
  • Mar 24, 2023 1:21pm Mar 24, 2023 1:21pm
Quoting cpfleger
uksoundz Correct trade young man... now learn how to bounce Price from supply to demand, simple. cpfleger
ha haven’t been called a young man for 40 years! Yes, I’d be inclined to target the support in a downtrend as this was against the trend I went for the 3 candle exit.
  • #4,516
  • Mar 24, 2023 1:30pm Mar 24, 2023 1:30pm
uksoundz,
compliments are free matey.
Psychologically a sell is better than a buy, humans and their emotions.
cpfleger
  • #4,517
  • Mar 24, 2023 1:56pm Mar 24, 2023 1:56pm
Simple and steady...
Attached Image (click to enlarge)
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  • #4,518
  • Mar 24, 2023 3:07pm Mar 24, 2023 3:07pm
Quoting cpfleger
Example of 1 Wicked Candle and 3 Candles exiting. {image}
Kind cpflager what about when we have only 2 candle of same colour? how we have to manage those trades? should we close? or should we add trades in KOF style ? If we simply close those trades and respect the 3 candlestick rule we will be far from having good equity and high winrate. Small gains and (usually) bigger losses. I have the impression that we are not saying how things stand here. These simple rules are (IMHO)not enough to be profitable, it would be too easy. What makes the difference is something else? is it intuition? or what we often call "feeling the market"? I think so. So let's say it. These rules are not enough, you need to develop other skills. Something that cannot be defined as a rule because it is a feeling. If not then let's explain what it takes. I couldn't do it, I'm following the rules and I've been in constant profit for 14 days since I opened my real account, but I don't follow the rules strictly, if I did I probably would have already lost my account. Maybe I just got lucky or maybe I'm developing this ability to sense the market. I do not know.
  • #4,519
  • Mar 24, 2023 5:32pm Mar 24, 2023 5:32pm
Quoting cpfleger
Chucun Sorry for the late reply... 2 colors (Red and Green), 2 directions (Up or Down), 2 Arrows (Red or Green) 2 Supply and Demand Boxes (red or Green). Simple. cpfleger
Thank you, sir.
  • #4,520
  • Mar 25, 2023 4:39am Mar 25, 2023 4:39am
Quoting Chucun
{quote} Hey UKsoundz, I've been thinking about getting magic keys. What are your thoughts?
Hi Chucun, I use the virtual trade pad and am a happy user. I have no connection to the product other than that I'm a customer. It's screen based interface. Just thought I'd throw out there so you can do a comparison / due diligence before purchasing.
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