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M1 Countertrend Scalping Strategy

  • #5,761
  • May 24, 2023 10:04am May 24, 2023 10:04am
Today's trade was extremely stressful again ! Fortunately I could manage to exit with a small profit at the end .
I usually set my target between ema 20 and 50 .But look what happened after I closed my orders !!!
Should I wait for ema 200 ? what is the best criteria for setting TP ?
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I haven't come this far to only come this far !
  • #5,762
  • May 24, 2023 10:43am May 24, 2023 10:43am
Quoting Amiraven
{quote} Perfect ! How do you set your exit point ?
as it turned out it was, thanks! targets are set primarily on s\r levels

see that resistance level where i entered my previous shorts? that was my target for the longs!
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every minute matters!
  • #5,763
  • Edited May 25, 2023 12:19am May 24, 2023 10:52am | Edited May 25, 2023 12:19am
Quoting Amiraven
Should I wait for ema 200 ? what is the best criteria for setting TP ? {image} {image}
you will answer that yourself with more practice and a better understanding of how price action interacts with the ema's - to fast track that process, watch all of KoFs videos then watch them again then trade as much as possible for as long as it takes to start feeling it... good luck!

EDIT: this may help in understanding the difficulty of knowing when to exit a trade - i think its a common problem and there is no right answer unfortunately, its ultimately up to you to decide...

How Do You Know When To Exit
every minute matters!
  • #5,764
  • May 24, 2023 12:36pm May 24, 2023 12:36pm
Quoting niks
{quote} you will answer that yourself with more practice and a better understanding of how price action interacts with the ema's - to fast track that process, watch all of KoFs videos then watch them again then trade as much as possible for as long as it takes to start feeling it... good luck!
Thanks Niks !
I appreciate your guidance
I haven't come this far to only come this far !
  • #5,765
  • May 24, 2023 2:17pm May 24, 2023 2:17pm
Quoting Ronin-
Hey Abade and cpfleger, Thanks for sharing the method. Why not make an EA for the method something like this: {image} Just a thought, initial idea.
Hi Ronin! I don't think it's possible to replicate how the original strategy works with an EA since it's meant to be a discretional method, not a mechanical one. In other words, an EA cannot read price action, market structure, volatility regimes and order flow in a opportunistic/intuitive fashion as the human does.

There are plenty of commercial and non-commercial EAs that use cost averaging and mean reversion in a similar fashion. However they are very likely to blow up an account and cannot be left unchecked/trusted fully, especially those that have been fitted to past data (which is very easy to do).
  • #5,766
  • May 24, 2023 2:28pm May 24, 2023 2:28pm
Quoting Amiraven
Today's trade was extremely stressful again ! Fortunately I could manage to exit with a small profit at the end . I usually set my target between ema 20 and 50 .But look what happened after I closed my orders !!! Should I wait for ema 200 ? what is the best criteria for setting TP ? {image} {image}
Gogo! Amiraven, pain is part of the game.

You should check the live sessions of the original author and follow along with your own trading, it's a good way to get used to the system:

Inserted Video
  • #5,767
  • May 24, 2023 8:41pm May 24, 2023 8:41pm
Quoting Amiraven
{quote} Thanks Niks ! I appreciate your guidance
your most welcome amiraven - however i will add that you should think carefully about WHY that trade was stressful - no trade should be stressful if executed with a plan, and that will only develop with time, most likely you were risking too much, that can easily happen if your lot size is too large for your account size, work on your money management to alleviate this stress and you will be fine!
every minute matters!
  • #5,768
  • May 24, 2023 9:00pm May 24, 2023 9:00pm
Quoting Abade
{quote} Gogo! Amiraven, pain is part of the game. You should check the live sessions of the original author and follow along with your own trading, it's a good way to get used to the system: https://www.youtube.com/watch?v=UVdEHhg8d4U
Thanks for sharing. How close are you with your strategy to his 1% trading strategy?
Thinking should i buy his course or can figure it out through his videos and your thread.
  • #5,769
  • May 24, 2023 9:04pm May 24, 2023 9:04pm
Quoting cpfleger
xinitial, Very true especially for old timers, must plan our coffee breaks, priorities. cpfleger
Last night I waited until I fell asleep.
xinitial
  • #5,770
  • May 24, 2023 10:50pm May 24, 2023 10:50pm
Quoting taksistalo
{quote} Thanks for sharing. How close are you with your strategy to his 1% trading strategy? Thinking should i buy his course or can figure it out through his videos and your thread.
Hi Taksistalo! We only cover the "basic EMA strategy" in this thread, you can check it out in his free/live videos (recommended).

The author sells the "full EMA strategy" and the "1%" courses, but we have not seen anybody applying them succesfully in a consistent fashion.

I recommend you watch his videos and then applying the concepts in a demo account and/or simulator.
  • #5,771
  • May 25, 2023 2:51am May 25, 2023 2:51am
Quoting Abade
{quote} Gogo! Amiraven, pain is part of the game. You should check the live sessions of the original author and follow along with your own trading, it's a good way to get used to the system: https://www.youtube.com/watch?v=UVdEHhg8d4U
Thank you Abade !
I haven't come this far to only come this far !
  • #5,772
  • May 25, 2023 4:18am May 25, 2023 4:18am
Target was been made!
Im trying to be steady as possible , just a few days to end of the month.
im using the rules of the first post,

Thank you @Abade and @cpfleger

For years i been strugling with FX maybe this is the way that fits me!
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  • #5,773
  • May 25, 2023 4:36am May 25, 2023 4:36am
zidro,
Excellent news.
cpfleger
  • #5,774
  • May 25, 2023 5:15am May 25, 2023 5:15am
Classic KoF EMA Strategy on a Thursday morning....
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  • #5,775
  • May 25, 2023 6:12am May 25, 2023 6:12am
Next victim....
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  • #5,776
  • May 25, 2023 6:13am May 25, 2023 6:13am
expecting..
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  • #5,777
  • May 25, 2023 6:17am May 25, 2023 6:17am
Waitting....

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  • #5,778
  • May 25, 2023 6:18am May 25, 2023 6:18am
javipenjamo,
H4 patience, waiting for over 100 minutes, practicing improves discipline.
cpfleger
  • #5,779
  • May 25, 2023 6:21am May 25, 2023 6:21am
It is my pending task to be patient, but I am very happy, I am improving day by day and I see something new every day, I started a week ago with only 10 euros and it is already 22, for me it is a very important achievement and all thanks to you
  • #5,780
  • May 25, 2023 6:24am May 25, 2023 6:24am
javipenjamo,
I only motivate, YOU Learn and now are Earning...
Performance is King in every activity, sport or business.
cpfleger
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