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M1 Countertrend Scalping Strategy

  • #5,021
  • Apr 16, 2023 7:47pm Apr 16, 2023 7:47pm
Quoting josh1111
watching AU {image}
yup
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  • #5,022
  • Apr 16, 2023 8:09pm Apr 16, 2023 8:09pm
Trying a move on the 1 hour timeframe.
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  • #5,023
  • Apr 17, 2023 1:26am Apr 17, 2023 1:26am
Hi everyone, I've been following you guys for a while and wanted to ask a question to those who have been using this strategy for months, have any of you tried the strategy with any prop firm yet?

Did they give you any problems being without stop loss and in martingale?
  • #5,024
  • Edited 7:49am Apr 17, 2023 2:59am | Edited 7:49am
Quoting Given1988
Hi everyone, I've been following you guys for a while and wanted to ask a question to those who have been using this strategy for months, have any of you tried the strategy with any prop firm yet? Did they give you any problems being without stop loss and in martingale?
Hi there.

This strategy if you can successfully trade it and be disciplined can be traded with the right prop firms, but you have to pick the right one for you. The ones that set 30 day challenges are no good because no body can sustain that type of trading for long. You also have to accept that you are responsible for your own trading.

There are prop firms that give you up-to a year to achieve their requirements.

I'm not going to list them because only you should choose which one is good for you.

As for stop loss I do tend to have one two structure away from entry as an emergency stop but very rarely let the trade go that far from my entry.

Martingale is a dangerous game and has no place in casinos, betting or trading, it’s a fools game.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #5,025
  • Apr 17, 2023 3:24am Apr 17, 2023 3:24am
Given1988,
Also to add to Seabreeze comments, if any new person to this Forum would read the entire Forum which I know it is a pain but you would have read I have passed a Prop Firm months back with this system, so it works and it works but like all Systems the Holy Grail is the TRADER. There is alot of information within this Forum from day 1 by Abade and then others over time... Read to prepare your trading Business.
cpflegert
  • #5,026
  • Apr 17, 2023 3:40am Apr 17, 2023 3:40am
Monday are maintenance and planning days... schedule prevention of computer program errors.
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  • #5,027
  • Apr 17, 2023 3:42am Apr 17, 2023 3:42am
Mondays are slow trading days - small lot sizes only - build up the week.
Tuesdays through Thursdays are the best trading days.
Friday has an up and down cycle, be aware.
Weekends are for Crypto.

Performance is King and enables Profitability.
cpfleger
  • #5,028
  • Apr 17, 2023 3:57am Apr 17, 2023 3:57am
Trading Business... needs planning.
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  • #5,029
  • Apr 17, 2023 6:10am Apr 17, 2023 6:10am
watching EU
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  • #5,030
  • Apr 17, 2023 6:16am Apr 17, 2023 6:16am
Quoting cpfleger
Monday are maintenance and planning days... schedule prevention of computer program errors. {image}
Please cpfleger
How do you clean MT4 logs ?
  • #5,031
  • Apr 17, 2023 6:42am Apr 17, 2023 6:42am
Elsaloon,
See screenprint. When in doubt Google MT4 Clean Platform.
cpfleger
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  • #5,032
  • Apr 17, 2023 7:22am Apr 17, 2023 7:22am
Quoting cpfleger
Elsaloon, See screenprint. When in doubt Google MT4 Clean Platform. cpfleger {image}
Thank you
How to Speed up MT4 - YouTube
  • #5,033
  • Apr 17, 2023 8:14am Apr 17, 2023 8:14am
Not the cleanest of entries but with a bit of patience the gold nuggets rolled in.

Not bad for a tea time trade after work on a Monday.
Time for something to eat.
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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #5,034
  • Apr 17, 2023 8:20am Apr 17, 2023 8:20am
This will probably be the last one of these I post as I think the point has been made and I don't want to bore people.
400 trades now reached.
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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #5,035
  • Apr 17, 2023 8:32am Apr 17, 2023 8:32am
Quoting Seabreeze
This will probably be the last one of these I post as I think the point has been made and I don't want to bore people. 400 trades now reached. {image}
Very well Seabreeze
Do you use averaging KOF method or only 1 entry ?
  • #5,036
  • Apr 17, 2023 8:56am Apr 17, 2023 8:56am
Quoting Elsaloon
{quote} Very well Seabreeze Do you use averaging KOF method or only 1 entry ?
99% of the time there is only a single entry. If the trade runs against me I will monitor it on the next higher time frame. For example if you look at the gold trade today. I entered on the 1m time frame.
It wasn't that clean an entry and went against me a little, not much though. So I then move to 5m time frame to see if a trade looks to be setting up again there.

That's what I did with this last trade.
I could see everything was good on 5M. So I have a choice now.
let it ride as if I had taken the trade on the 5m chart.
or add another trade and exploit it some more.
I chose this time not to add to the trade simply because its Monday and the time of day and trade was in profit anyway by then.
As you can see there was plenty of gas in the tank after I cut the trade.

If the trade didn't look likely to set up on the next time frame I would cut the trade.

I only enter with one fifth of my trade size on first entry also.
I also have multiple plans of how to handle a trade once I'm in it so I know what to do in every scenario, but to explain that I would need to write a book.
Hope this helps.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #5,037
  • Apr 17, 2023 9:00am Apr 17, 2023 9:00am
seabreeze
Thank you for your answer
Chris
  • #5,038
  • Apr 17, 2023 9:08am Apr 17, 2023 9:08am
Quoting Seabreeze
This will probably be the last one of these I post as I think the point has been made and I don't want to bore people. 400 trades now reached. {image}
how can you get bored of looking at that? very well-done congrats!
without patience how can you be a trader?
  • #5,039
  • Apr 17, 2023 11:36am Apr 17, 2023 11:36am
I hope everyone has been trading and making some green. My wife is recovered, and now i'm back to trading. Yes, TFT did successfully pay me out on the withdrawal made on Apr 6th using this strategy alone. It's a 5 figure payout. However, i'm now moving to pass a challenge at 5%ers prop firm.. in 7 days I passed phase 1 of the 100K challenge. This one not only pays you the percentage of profit, but also as you scale up pays a monthly salary:

https://the5ers.com/high-stakes

What are your dreams? I have done nothing but scalp around liquidity zones, order blocks, and fvg's that I mark up on my chart and verify using cpflegers template. That is all.. simple. Some of the trades I took using only my mobile phone due to my circumstance, but still i passed with a 92% win rate.
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  • #5,040
  • Apr 17, 2023 11:44am Apr 17, 2023 11:44am
Quoting erod84
I hope everyone has been trading and making some green. My wife is recovered, and now i'm back to trading. Yes, TFT did successfully pay me out on the withdrawal made on Apr 6th using this strategy alone. It's a 5 figure payout. However, i'm now moving to pass a challenge at 5%ers prop firm.. in 7 days I passed phase 1 of the 100K challenge. This one not only pays you the percentage of profit, but also as you scale up pays a monthly salary: https://the5ers.com/high-stakes What are your dreams? I have done nothing but scalp around liquidity...
Hi erod84

Very glad to hear your wife has made a good recovery.

Well done on the challenge and great to see you back.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
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