Attachments: M1 Countertrend Scalping Strategy

M1 Countertrend Scalping Strategy

#4,541
Mar 25, 2023 1:59pm Mar 25, 2023 1:59pm

Abade
Joined Aug 2016 | Status: Trader | 536 Posts

Quoting Seabreeze

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For those who say I only post my winning trades here my statement for last couple of weeks. since trading cpfleger's ideas. I didn't want to post up until I gave them a fair trial and 200 trades is not a bad start. Bearing in mind I only trade an hour before work in a morning and evening if markets still quite active and a little Bitcoin at weekends. I'm not as good as cpfleger but getting better with time. You can do this with the right mind set. Only posting these in the hope that people will break free from the garbage your told on YouTube its...

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Excellent performance, thanks for sharing with us my friend!

I agree that there is a lot of re-recycled rubbish on YouTube, that's one of the main things that motivated the creation of this post.

#4,542
Mar 25, 2023 2:21pm Mar 25, 2023 2:21pm

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

Quoting Abade

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{quote} Excellent performance, thanks for sharing with us my friend! I agree that there is a lot of re-recycled rubbish on YouTube, that's one of the main things that motivated the creation of this post.

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I am very pleased that you started this thread. I have been trading successfully now for years. Before reading and joining this thread. I was trading a simple strategy with several thousand trades made and an equity curve that looks like one of cpflegers rocket launchers and all trades made didn't have a risk reward factor. I only got in and got out when the market told me to.

When joining this thread I learnt from yourself and cpfleger presented a easier and quicker way to see the trades and a more precise entry with little drawdown and even though there is nothing wrong with my older trading strategy I've now replaced it.

Risk reward is too rigid for forex and 95% use it that's why 95% loose long term.

I know 6 successful full time traders and non of them use a risk reward equity plan.

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

#4,543
Mar 25, 2023 3:43pm Mar 25, 2023 3:43pm

Abade
Joined Aug 2016 | Status: Trader | 536 Posts

Quoting Seabreeze

Disliked

{quote} I am very pleased that you started this thread. I have been trading successfully now for years. Before reading and joining this thread. I was trading a simple strategy with several thousand trades made and an equity curve that looks like one of cpflegers rocket launchers and all trades made didn't have a risk reward factor. I only got in and got out when the market told me to. When joining this thread I learnt from yourself and cpfleger presented a easier and quicker way to see the trades and a more precise entry with little drawdown and...

Ignored

Agreed! The markets seem completely amorphous, so trying to impose a predefined risk/reward doesn't make any sense at all. Yet, you can find thousand of videos on YT recommending using 1:2, 1:1.5, or even 1:50. It's easy to fall for it because it gives an illusion of control and discipline.

#4,544
Mar 25, 2023 6:27pm Mar 25, 2023 6:27pm

dantpm
Joined Aug 2022 | Status: Trader | 4,859 Posts

Suggestion.
Replace the MarCo-MA2 with 2 all averages v3.1
On the 1st set price 3, ma_period 4, ma shift 0, ma method 3, color mode 1, on colors set 0 and 2 to a neutral color and width to 1, set color 1 to your up color and a width of at least 2.
On the 2nd set price 2, ma_period 4, ma shift 0, ma method 3, color mode 1, on colors set 0 and 1 to a neutral color and width to 1, set color 2 to your down color and a width of at least 2.
The Neutral color serves to give you a delay to enter or exit.
Using the high and low prices negates the need for a shift.

#4,545
Mar 25, 2023 7:39pm Mar 25, 2023 7:39pm

cpfleger
Joined Jul 2015 | Status: Trader | 6,592 Posts

dantpm,
I assume this is what your referring to since you did not provide a screenprint ?
cpfleger

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#4,546
Edited 4:26am Mar 26, 2023 4:06am | Edited 4:26am

dantpm
Joined Aug 2022 | Status: Trader | 4,859 Posts

Quoting cpfleger

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dantpm, I assume this is what your referring to since you did not provide a screenprint ? cpfleger {image}

Ignored

I found that with a thin grey line (for example) instead of no line opposite the green and red it made more sense to me but it appears to work both ways.
In the attached, I used thin white lines.
I also went back to using the RSI indicators. I am using the 7 (magenta) and 14 (blue) period where the 7 tends to be a leading indicator for changes in trend. I also added an 8 period ma (green) to the RSI as a further confirmation of the establishment of a trend or oscillation without a clear trend.
The 7 period RSI tends to oscillate between 80 and 20 most while most of the activity for the 14 is 70 and 30. Activity outside of these bands tends to be of shorter duration. Double taps of the RSI at the top and bottom of the cycle are typically needed before you get a change in direction. Cycles can change anywhere! Using all of the tools appears to be working.

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#4,547
Mar 26, 2023 5:00am Mar 26, 2023 5:00am

hoaivicao
| Joined Aug 2021 | Status: Trader | 4 Posts

Quoting cpfleger

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hoaivicao There is not true version of my KoF V1 to V5 system for MT5 except for a basic version which is; 4 EMA's There are few Dots / Arrow alternative MT5 Indicators available but slightly different than MT4 V1 to V5. But I keep looking weekly. cpfleger

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Thank you for the reply. Most of the indicator i can manage to set up by hand to near your indicator. Ony the Supply and Demand Box are quite difficult.
Otherwise, can you explain the logic of Supply and Demand Box has made? Does it simply the support and resistance that we can drawn easily by hand or we need some criteria to drawn it?

Thank you

Admire your work from page 1...

#4,548
Mar 26, 2023 5:41am Mar 26, 2023 5:41am

kalymnos
| Joined Jun 2018 | Status: Trader | 51 Posts

hi cpfleger, nice work. i have messaged you as well. which indicators do you suggest so i can try to convert them to mt5? do you have them in mq4 format?thank you

Quoting cpfleger

Disliked

hoaivicao There is not true version of my KoF V1 to V5 system for MT5 except for a basic version which is; 4 EMA's There are few Dots / Arrow alternative MT5 Indicators available but slightly different than MT4 V1 to V5. But I keep looking weekly. cpfleger

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#4,549
Mar 26, 2023 7:07am Mar 26, 2023 7:07am

cpfleger
Joined Jul 2015 | Status: Trader | 6,592 Posts

kalymnos
See MT5 screenshot, I am away from the office today due to Sunday and the wife has spoken about a day out, so review the Indicator List and configure MT5.
cpfleger

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#4,550
Mar 26, 2023 7:18am Mar 26, 2023 7:18am

cpfleger
Joined Jul 2015 | Status: Trader | 6,592 Posts

dantpm,
Now we are cooking with Gas....
cpfleger

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#4,551
Mar 26, 2023 7:22am Mar 26, 2023 7:22am

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

Quoting dantpm

Disliked

{quote} I found that with a thin grey line (for example) instead of no line opposite the green and red it made more sense to me but it appears to work both ways. In the attached, I used thin white lines. I also went back to using the RSI indicators. I am using the 7 (magenta) and 14 (blue) period where the 7 tends to be a leading indicator for changes in trend. I also added an 8 period ma (green) to the RSI as a further confirmation of the establishment of a trend or oscillation without a clear trend. The 7 period RSI tends to oscillate between...

Ignored

I have to agree with you about the RSI and oscillations of the market. I have a strategy that's been useful for years that involves a 7 and 8 RSI.

Although not necessary here as the idea is to use a strategy that involves the least amount indicators I completely understand where your coming from.

Like your idea above though.

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

#4,552
Mar 26, 2023 7:36am Mar 26, 2023 7:36am

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

A cheeky little trial trade

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

#4,553
Mar 26, 2023 7:52am Mar 26, 2023 7:52am

cpfleger
Joined Jul 2015 | Status: Trader | 6,592 Posts

Seabreeze,
Before my trip out with the Boss lady, nice trade and your getting better with age....
cpfleger

#4,554
Mar 26, 2023 7:59am Mar 26, 2023 7:59am

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

Quoting cpfleger

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Seabreeze, Before my trip out with the Boss lady, nice trade and your getting better with age.... cpfleger

Ignored

Thank you sir.

Enjoy your trip.

Wont be long before my boss lady will be wanting some attention too.

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

#4,555
Mar 26, 2023 8:04am Mar 26, 2023 8:04am

cpfleger
Joined Jul 2015 | Status: Trader | 6,592 Posts

Last screenprint today - Food For Thought.

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#4,556
Mar 26, 2023 9:58am Mar 26, 2023 9:58am

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

Just showing support for dantpm as he's taken the trouble to post an idea.

That's me finished for today. Haven't had much time to trade.
The first trade was taken on 5m chart that's why it looks like I stayed in trade longer than I should
The second trade was taken on 1m Chart.

Have a good one everyone.

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