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M1 Countertrend Scalping Strategy

  • #4,801
  • Apr 3, 2023 10:01am Apr 3, 2023 10:01am
Danielesse87,
Thats beauty of choice, one must find a system that fits their eyes and acceptance.
So, please post a few screenprints on your next few trades for we can support.
cpfleger
  • #4,802
  • Apr 3, 2023 10:01am Apr 3, 2023 10:01am
Quoting Danielesse87
{quote} I haven't tried TLS yet. I saw the video and I didn't quite understand the relationship with the zoom of the graphs. it actually left me a bit perplexed
Me too
  • #4,803
  • Apr 3, 2023 10:06am Apr 3, 2023 10:06am
Elsaloon / Danielesse87,
Please define the system and version for we can support.
cpfleger
  • #4,804
  • Apr 3, 2023 10:12am Apr 3, 2023 10:12am
Quoting cpfleger
Elsaloon / Danielesse87, Please define the system and version for we can support. cpfleger
The Gold Digger Thunder Light Strategy (Ultimate Forex Pathfinder) | Gift From The 1% Forex Club!
  • #4,805
  • Apr 3, 2023 10:24am Apr 3, 2023 10:24am
Quoting Danielesse87
Good morning gentlemen. This is my first month of real account trading. They are quite satisfactory results however I am thinking of not trading anymore. After a month I thought I had more confidence and more security but in reality it is not like that. It's not a question of money because as you can see I have +24% since I started. I can't find coherence in what I do, too based on emotions, on sensations. I know that this way of doing will not get me far. I continue to study the charts even when the market is closed and I see too many situations...
" We had to learn to lose in order to win. It is as simple as that."

Best Loser Wins by Tom Hougaard
Why Normal Thinking Never
Wins the Trading Game

I am reading this book right now, and I would recommend it to everyone who wants to be profitable in forex trading...
  • #4,806
  • Apr 3, 2023 10:24am Apr 3, 2023 10:24am
Shooting for 15k in Bitcoin Points today....
Attached Image (click to enlarge)
Click to Enlarge Name: KoF.jpg Size: 318 KB
  • #4,807
  • Apr 3, 2023 10:33am Apr 3, 2023 10:33am
Quoting cpfleger
Shooting for 15k in Bitcoin Points today.... {image}
Super good
  • #4,808
  • Apr 3, 2023 10:33am Apr 3, 2023 10:33am
zozon99,
Visit his Telegram (Tom Hougaard) channel, scalps that Gold daily.
cpfleger
  • #4,809
  • Apr 3, 2023 11:16am Apr 3, 2023 11:16am
In this strong trend, the blue boxes are entries according to the system, how should it be managed? Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: Sin título.png Size: 46 KB
  • #4,810
  • Apr 3, 2023 11:35am Apr 3, 2023 11:35am
Quoting cpfleger
Elsaloon / Danielesse87, Please define the system and version for we can support. cpfleger
Trading Forex Gold is Easy with Thunder Light Strategy
  • #4,811
  • Apr 3, 2023 11:37am Apr 3, 2023 11:37am
javipenjamo,
If you had read the complete post of messages you would have read that on average a good trend will have roughly 3 to 4 mini pullbacks which are your blue boxes and then the Market starts to reverse which is why the Resistance (red) Box starts to paint and extend to the right, this Box is your preparation of a major reversal point and again usually after a good trend there will be ranging of candles while the Banks decide their future (their risk assessment of the Market / Retail Traders Stop Losses as this is their daily Income / Money).

So to comply with KoF countertrend strategy, we should watch until the Resistance (Red) Box starts to paint a vertical line above a candle and then we prepare to enter / or enter a trade position and ride it downwards to defined TP or 3 Candles depending on your criteria.
cpfleger
  • #4,812
  • Edited Feb 8, 2024 2:15am Apr 3, 2023 12:42pm | Edited Feb 8, 2024 2:15am
Quoting zozon99
{quote} " We had to learn to lose in order to win. It is as simple as that." Best Loser Wins by Tom Hougaard Why Normal Thinking Never Wins the Trading Game I am reading this book right now, and I would recommend it to everyone who wants to be profitable in forex trading...
Never heard of this book, will check out:

{ copyrighted attachment deleted by staff }
  • #4,813
  • Apr 3, 2023 12:47pm Apr 3, 2023 12:47pm
Quoting cpfleger
javipenjamo, If you had read the complete post of messages you would have read that on average a good trend will have roughly 3 to 4 mini pullbacks which are your blue boxes and then the Market starts to reverse which is why the Resistance (red) Box starts to paint and extend to the right, this Box is your preparation of a major reversal point and again usually after a good trend there will be ranging of candles while the Banks decide their future (their risk assessment of the Market / Retail Traders Stop Losses as this is their daily Income / Money)....
Thank you very much for your answer, many times because of the translation they are misunderstood
  • #4,814
  • Apr 3, 2023 1:04pm Apr 3, 2023 1:04pm
Quoting cpfleger
javipenjamo, If you had read the complete post of messages you would have read that on average a good trend will have roughly 3 to 4 mini pullbacks which are your blue boxes and then the Market starts to reverse which is why the Resistance (red) Box starts to paint and extend to the right, this Box is your preparation of a major reversal point and again usually after a good trend there will be ranging of candles while the Banks decide their future (their risk assessment of the Market / Retail Traders Stop Losses as this is their daily Income / Money)....
Dear Cpflager
let me say that we don't know if it's a strong trend until it develops. During such a trend we will see many boxes painted and erased in the following pushes. Usually I look to see what kind of counter-trend response occurs. An undecided answer is usually a sign of continuation. Only when I see a "deep" answer for me could it be a sign that things are starting to change. Counting the number of pullbacks is likely to send you into a headache whirlwind
  • #4,815
  • Apr 3, 2023 1:13pm Apr 3, 2023 1:13pm
Quoting javipenjamo
In this strong trend, the blue boxes are entries according to the system, how should it be managed? Thank you {image}
I like to wait for evidence. For example: price touching the zones I want to use as targets at least once for every major swing:

Attached Image (click to enlarge)
Click to Enlarge Name: Weakness_Evidence.png Size: 63 KB


Don't forget you can also use regular and hidden divergence:

Attached Image (click to enlarge)
Click to Enlarge Name: divergence_cheatsheet.606ca1cf7a45.jpeg Size: 210 KB


In this case you are watching a regular bearish divergence (price is making higher highs while your oscillator is making lower highs).

Hidden divergence MAY lead to trend continuation.

Hope this helps.
  • #4,816
  • Apr 3, 2023 2:19pm Apr 3, 2023 2:19pm
Quoting aud
{quote} RSI (8) and EMA (21) applied to first indicators data, same as rs1 div1.
Ok thanks, looks interesting, i will try it
  • #4,817
  • Apr 3, 2023 2:23pm Apr 3, 2023 2:23pm
[quote=Abade;14382040]{quote} I agree with @niks, divergences can give you really good timing. I am not sure about using a SL with this type of strategy, but may work in the long run, let us know how the testing goes. Best regards.
Ok, thanks for your comment, so you say you wouldn't use SL?
How would you handle it?
  • #4,818
  • Apr 3, 2023 3:15pm Apr 3, 2023 3:15pm
Quoting sol4live
{quote} Please share this version of MACD histogram
Sure,
I'm still testing it

This version is with Macd histogram and AO both indicators give good Divergence signals
I still haven't decided which one would work better.
Attached File(s)
File Type: tpl 2023 MACD Histogram.tpl   8 KB | 263 downloads
  • #4,819
  • Apr 3, 2023 4:16pm Apr 3, 2023 4:16pm
[quote=spacetravel;14383925]
Quoting Abade
{quote} I agree with @niks, divergences can give you really good timing. I am not sure about using a SL with this type of strategy, but may work in the long run, let us know how the testing goes. Best regards. Ok, thanks for your comment, so you say you wouldn't use SL? How would you handle it?
Hi spacetravel! I would never use a predefined "x" pips stop-loss in any mean reversion/countertrend strategy, as there is no way to know EXACTLY when the current move is over, there is just too much variance. Most of the time price will trigger your stop loss and THEN fall back to a "mean" value. However, that's only my experience and may be proven wrong in the future.

The good thing is that there are a lot of ways to manage risk that don't imply the use of a fixed stop loss:

- Equity stop-loss.
- Having a max number of positions and "last-stand" zone to exit (next to a "mean" value).
- Better entries (waiting for weakness/confluence).
- Timed exits: Reversion back to the mean should happen relatively quickly, otherwise it's most probably a continuation.
- Avoiding instruments that have an historical tendency towards "killer" moves for mean-reversion (I am looking at EURAUD/USDJPY).
- Avoiding situations that may create "surprise/abnormal" moves or shocks (US elections in USD pairs).
- Don't let price bounce off the current "mean value". If you missed it you may want to exit by market.
- Exit by market if you sniff Indecision near strong support/resistance and other price action cues that may indicate an impending breakout. This is where intuition and implicit knowledge plays its part.

In other words, I believe that it's better to ask oneself "how to make better entries and exits" instead of asking oneself "how to handle a bunch of bad/runaway trades" as most of these are avoidable.
  • #4,820
  • Apr 3, 2023 6:35pm Apr 3, 2023 6:35pm
Quoting cpfleger
Last 1% Club Template for the day, Thunder Light System. Elsaloon, you may like this system better than the previous 1% Clube system.
I don't know if you intended to construct this template this way, but in the video he says it's important to apply the 20ema to the RSI (first indicators data), not the close price as you have. I have made the fix in the template file and it is attached...Apologies if you intended as per original.
Attached File(s)
File Type: tpl 1M 1 Percent Club TLS Scalping System_FIXED.tpl   56 KB | 237 downloads
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