M1 Countertrend Scalping Strategy

Quoting niks

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{quote} totally inspired by you so thanks... so much to learn!

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Quoting Aussi

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{quote} thanks mate that keeps me going knowing the some traders are getting the hang of trading and making money nothing makes happy more than this , kindest regards

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Quoting Donny3rd

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{quote} I saw all that too! It was originally supposed to be a quick in and out, even before getting in too early. I'm still formulating rules for how far from 200 it should be before entry. I remember early on in the thread Abade mentioned a 50 EMA touch once crossing the 200 as a filter. That said, I plan on jumping out no matter what once it hits the 200. It's slowly going that way already: {image} Sadly, I can set TP only if I a) have only 1 entry on a pair. b) have multiple entries but they are each a different lot size. FIFO rules are a horrible....

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Quoting niks

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{quote} handled like a true professional! even under draconian conditions which i don't fully understand and would try and find every way around them - often these trades can provide the biggest windfalls, another positive day, great work!

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Quoting Donny3rd

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{quote} Thank you and I agree, FIFO is very draconian! But, the challenge is paying off on skill and developing criteria for selecting the better setups. It's the pangs of greed I'm trying most to curb. Example: "when it get to 200 EMA I'm out!" "Ok it's here, but if it goes lower all will be in profit!" "Oh crap it's going up, but that could just be a test of sup/res, it could still go my way." "praise the lord it has come my way, OK I'M CLOSING FOR REAL!". But I'm working on it.

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Quoting Aussi

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{image} my jpy trades tped how nice, just a note time is on your side if you trade easy while learning, rushing i found myself it can lead to an account blowout and did happen and every time kick myself in the early days and nik is so right """what's the rush""" that's what brokers want you to do its his bonus money every time we fail and me personally hate giving my broker anything and thats what you have to learn your broker is not your friend he is in it for the money YOUR MONEY

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Quoting cpfleger

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xinitial, Should be returning downwards for a short sell soon but I think Gold is going upwards after a few days of selling. cpfleger {image}

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Quoting cpfleger

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Shiny objects only.... {image}

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Quoting niks

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{quote} over time you'll learn exactly when to get out - KoF always says when trading you should feel like your in a spa and very relaxed, once you reach this stage you will know everything is under control regardless of how a trade is running... trade objectively and not emotionally, some of your "feelings" may appear as greed now, but if they turn out to be right more often than not, then there is nothing wrong with maximising profits, but of course that leads to higher risk, so just observe for now, be happy with whatever profits come your way,...

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Quoting Donny3rd

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Alright, let's start todays trades. This is the first time trading on days off since I started practicing this method. I have Tuesdays and Wednesdays off currently. That'll change in July. We have schedule rotations in my position. There's a slight mutiny afoot trying to get the rotations to end, but I digress. On to the trading! Took a sell on AUDUSD as it rejected to 200 EMA with a sup/dem box and ZZ number: {image} Apparently I have the mass of a black hole in my index finger as I accidently hit the mousepad while the cursor was over the close...

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Quoting niks

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{quote} mistakes and distractions aside (they can be very costly so be careful), you did well to not let it affect performance - having more time on your hands to practice this strategy can be both a blessing and a curse but is the only way to refine skills! you made no mention of the red news for AUD just prior to your trades, were you aware of it? following on from the idea of maximising profits, as an observation only for now as you exit your trades, think about the ema's as guides "to" your target, not "as" your target, but keep using them as...

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