M1 Countertrend Scalping Strategy

200 Pips on Gold is the next Target.

Breaking 600 usd...

300 Pips is the next Target.

Getting closer to 300 Pips...

Welp, danced with the aussie the whole day. I gotta admit, prolonged skirmishes ain't my thing


On a side note, 9EMA trailing SL might not be feasible for me due to my spread. Maybe 20/35EMA might be more useful

It went all the way up to the PDH and reversed down. Do you think it will break past PDH?

Thanks for the heads up, will look into his posts. Kinda getting my balls broken from rescuing my initial entries every single time hahahaha

EURUSD went up all the way to the PWH. AUDUS went up to PDH into a daily FVG. I'm nursing my positions as well now haha.

Exceeded 300 Pips today...

well done sir!

Stuck in some trades right now. Here's the run down...

Miss a couple good trades due to some chatty soworkers. Then I was watching a pair and put the cursor over the sell button. The pre setup didn't pan out but I forgot to move the cursor. I started ctrl+tabbing through the 6 pairs I watch. My right thumb accidentally tapped the mouse pad when I was on USDCAD and placed a sell order. I was trying to stay out of that exact pair due to news coming up. I did place a TP though:

Price went against me and I wanted to keep the TP, so I averaged in a sell but at 0.03:

Saw a setup form on EURJPY and took a sell. I was a candle late but it was actually a better price than when the first candle formed:


Took a sell on USDJPY as well shortly after:


I usually place my 2nd entries around -5 pips which happened in USDJPY so another sell it was:


Price went even further so put in a 3rd sell on USDJPY but at 0.03 so I could close it earlier than the other entries if in profit but not quite past first entry. I love FIFO regulations!:


And lastly took the 2nd sell on EURJPY:


And of course price is just floundering around. Hopefully won't be overnighters (for my timezone, Arizona USA) but who knows.

Just tried something I was thinking about regarding FIFO regulations (only for US citizens) and TP orders. Since both positions on USDCAD are different lot sizes of 0.02 and 0.03 I thought I could make a TP for the 0.03 order as well. Tried it and it works. So, as I thought, as long as all orders are different lots on a single pair, they can all have TP's and SL's:

Quick update and the other 2 pairs I currently have trades on as I leave work:




Yeehaw! Fun night

Quick update on USDCAD. Close both manually once in profit for 5.8 pips total. Price did shortly go lower than initial TP but was glad to be out:

Awesome @cpfleger!

Thanks for sharing your update. I'm stuck nursing my positions in EURUSD and AUDUSD. From a risk-management perspective, I should be only trading 1 pair for my current balance and I shouldn't be trading closely correlated pairs anyways

Totally feel you on the correlated pairs. Logic in my head says 'you expect it to go this way on this pair, that one is correlated and might do similar. DOUBLE DIP BUDDY!'

In it right now with USDJPY and EURJPY. I'll share in your forehead slapping.

nicely recovered donny, only suggestion here is with a strong move like that down to ema200, anticipate a break down to a support level as was the case here, hindsight i know, but keep an eye out for it then tell me its hindsight! as for mistake entries, i salvage and close asap if not immediately upon realising the mistake, this will be important when trading live, getting stuck in a trade costs time, and we all know time is money!

as for the jpy trades which you intentionally entered, there were clear signs of a continuing uptrend on the break of ema200 and no clear signs from what i can tell of a counter move as ema9 and 20 failed to be breached, perhaps reassess the entry criteria used for these trades...

with negative swaps of the size i'm seeing, they will definitely show up after the next rollover and be deducted from your floating pnl which means that little bit more to make up so be sure to factor that in if you hold...

whether or not you should hold i can't say, i do not trade these pairs at all, technically, your entry point is a strong support level that will eventually get breached, not really sure how long it will take, needs to break below ema200 (on the 1M) first, and if strong enough, should follow through to support i guess...

so a couple of other suggestions as well, if possible, use a NANO lot broker to make things easier to manage, and keep in mind with your double the recommended lot size, now managing two pairs is double the number of recommended pairs to trade at one time, so therefore you have quadrupled your risk! hopefully its not a hard lesson. but as always, stay positive and learn from it if it is...

anyway mate, best of luck and i hope they pan out, maybe some news will help... thanks for keeping us updated!

Friday syndrome - will the usual lack of Volume on a Friday slow or delay a buy or few on Gold today ???
Lets watch and learn and maybe earn.

Creeping upwards in a slow and steady fashion...

There is Volume but limited until 7am EST...

She is teasing me on a Friday morning, she loves Control.