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M1 Countertrend Scalping Strategy

  • #6,481
  • Jun 18, 2023 3:55pm Jun 18, 2023 3:55pm
Little by little....
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  • #6,482
  • Jun 18, 2023 4:10pm Jun 18, 2023 4:10pm
Quoting cpfleger
34 hours of patience.... {image}
cpfleger, I'm learning a lot from your post's. Thank you for posting and keeping volks like me motivated.
I'm working on the patience part. Crazy how much impact it can have.

Patience with the entrys = less draw downs
Patience with the averaging = less draw downs
Patience with the exits = more profits

Thx cpfleger
  • #6,483
  • Jun 18, 2023 4:28pm Jun 18, 2023 4:28pm
Patience Is Performance = PIPs.....
  • #6,484
  • Jun 18, 2023 4:33pm Jun 18, 2023 4:33pm
Performance......is all I trade for daily.
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  • #6,485
  • Jun 18, 2023 4:51pm Jun 18, 2023 4:51pm
1500 Points is the next target....
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  • #6,486
  • Jun 18, 2023 5:16pm Jun 18, 2023 5:16pm
2000 Points next....
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  • #6,487
  • Jun 18, 2023 6:00pm Jun 18, 2023 6:00pm
Almost there....
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  • #6,488
  • Jun 18, 2023 6:09pm Jun 18, 2023 6:09pm
Over 2000 Points and searching for more...
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  • #6,489
  • Jun 18, 2023 6:27pm Jun 18, 2023 6:27pm
2500 Points next...
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  • #6,490
  • Jun 19, 2023 12:46am Jun 19, 2023 12:46am
a ranging market on a 1M chart provides PLENTY of scalping opportunities when scalping the spread!
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every minute matters!
  • #6,491
  • Jun 19, 2023 6:07am Jun 19, 2023 6:07am
Quoting niks
a ranging market on a 1M chart provides PLENTY of scalping opportunities when scalping the spread! {image}
Hi niks,
looking good. What do you mean by spread? Just price moving to fast to far??

Thx
  • #6,492
  • Jun 19, 2023 6:14am Jun 19, 2023 6:14am
Gold divergence looking good btw if it gets out of that ob zone ...

  • #6,493
  • Jun 19, 2023 7:17am Jun 19, 2023 7:17am
very high frequency 1 minute countertrend spread scalping - hundreds of pips in minutes!
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every minute matters!
  • #6,494
  • Jun 19, 2023 7:28am Jun 19, 2023 7:28am
Quoting niks
very high frequency 1 minute countertrend spread scalping - hundreds of pips in minutes! {image}
your spead must be very low, I could not do that with my broker
without patience how can you be a trader?
  • #6,495
  • Jun 19, 2023 7:41am Jun 19, 2023 7:41am
Quoting Steverino832
{quote} your spead must be very low, I could not do that with my broker
some brokers offer low spread but they will take a fee in each trade, the trade would start at 0.00, for example my broker Fpmarkets, offer "raw account" each time you trade with that one -3.5 $ fees, I never used it though.
  • #6,496
  • Jun 19, 2023 7:43am Jun 19, 2023 7:43am
Quoting Steverino832
{quote} your spead must be very low, I could not do that with my broker
the spread is < 10 points as seen in the snapshot - there are many brokers that offer low spread, its your choice really, scalping the spread requires a spread! my primary concern is my brokers execution speed, if it's not lightning fast, they don't get my money! i can highly recommend ic markets from my current experience... they offer me this low gold spread without commission, happy days!
every minute matters!
  • #6,497
  • Jun 19, 2023 8:11am Jun 19, 2023 8:11am
Quoting Mojoloto
{quote} Hi niks, looking good. What do you mean by spread? Just price moving to fast to far?? Thx
hi mojoloto - thanks, your query appeared a bit late, hesitation will not cut it when scalping!

the spread is the difference between buy and ask so that is the target for every trade - it is extremely intense for the ENTIRE session, timing the start and end of the session is the tricky part, you don't want to be stuck forever doing this, everything else in between is the fun part!
every minute matters!
  • #6,498
  • Jun 19, 2023 8:13am Jun 19, 2023 8:13am
Quoting niks
{quote} the spread is < 10 points as seen in the snapshot - there are many brokers that offer low spread, its your choice really, scalping the spread requires a spread! my primary concern is my brokers execution speed, if it's not lightning fast, they don't get my money! i can highly recommend ic markets from my current experience... they offer me this low gold spread without commission, happy days!
yeah, just got out of the junior member role
nice, i was looking for something similar. Do you go in with a set tp to let the market take you out or all mechanical in and outs?

like this guy? although he's going often for the bigger moves which i wouldn't call super scalping ...
https://www.youtube.com/@imantradinglive
  • #6,499
  • Jun 19, 2023 8:22am Jun 19, 2023 8:22am
Quoting Mojoloto
{quote} nice, i was looking for something similar. Do you go in with a set tp to let the market take you out or all mechanical in and outs?
no, totally controlled by hand, market entries and exits with a minimum target in mind, it often pops a lot higher for a tick or two so clicking the mouse on the right tick is the key to maximising profits and why server execution speed is critical, using set tp's would yield much less pips and would be too unreliable for this style of scalping... some trades are in and out within three ticks!
every minute matters!
  • #6,500
  • Jun 19, 2023 11:41am Jun 19, 2023 11:41am
Even on Bank Holidays there are a few pennies....
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