M1 Countertrend Scalping Strategy

Yes sir - why because its based on the 2 - 2 colors, 2 directions and 2 decisions.
No crap, no thinking, no inputs from your friends or guru's - Only YOU.
Big Boy account today, find the lower Fruit, take it and seek more....

You have a choice...

inspired by cpfleger

Steverino832,
Try to use the first 1 Wicked Red Candle next time for more performance..
cpfleger

Try 5 or 15M TF due to their slowness while your learning, go slow, set the SL and wait for the 1 Wicked HA Candle, open a trade and manage the position until X or XArrow.

the green x than the green arrow and I was out. lol

Hi cpfleger, sorry if it was asked before. I'm not on my computer to look properly.
Are the errors and X's based on zigzag or semaphore?

Thx

Mojo

Thank you so much. My brain aligns with detailed responses of the thought process kind. I appreciate this to no end! For some reason I always used the Synergy Continuation Histogram to just help keep me in the trade. It somehow escape my reasoning to use it when getting ready to enter as a confluence. Makes total sense. Thanks again!


Thanks Niks! I believe the demo account does show swaps but is called "financing" under the swap field, unless I'm mistaken on what that is. :


I know all too well about commissions stacking up as my first foray into trading was with bitcoin around 2016 with Coinbase as the broker. I made about $16 on a couple bull runs and thought I was a trading protégé. HA! I lost $32 in a single trade when it reversed. That when I realized I knew jack all about trading, I scrapped back the $32 then stopped all together to learn more. So many dumb things learned. I tried out so many indicators, systems, theories, and whatnot. Then learned market structure and price action on naked charts. That brings us up to today with falling in love with mean reversion. I'm got pretty good at price action but I'm still getting used to HA candles. There are times I turn them off and turn the non averaging candles back on to get a familiar sense of the action. The time I'm trading is also something I'm getting used to due to much lower volume and larger spreads than London or NY sessions. I like that though, "read the book instead of just the pictures". I agree.


Thanks Josh! Your encouragement goes a long way.


I'm right there with ya man! Trading from Arizona. I'm leery about utilizing a non US broker (I've found some that'll accept US clients) due to how it'll affect filing my taxes. If I can find that info, I might switch from OANDA. The spread is what keeps me from getting out sometimes on faster EMA touches and I end up in the run away trends. It also limits frequency of trades taken due to the extra pips needed to be covered just on the entry compared to the EMA targets. But it's not impossible. You already know all this LOL. Let us know if you end up going with or trying out any the brokers please!

Now it's time for me to start watching my 6 pairs for setups. Green pips to all!

Gents,
I have said this before many times, You have on the average within 3 candles to open and close a trade on a typical 5M TF, so look at my last screenprint and see where the first 1 wick candle opened, formed a Body and the Wick travelled, then the next candle - is the wick the same distance or more or less ? Train your eyes and zoom inwards and learn before YOU earn.
cpfleger

Thank you Cpfleger.
That's helpful!

Do we have a 1 Wicked Candle yet ????????????????
No sir, be patient.

Burn those wicks into your brain, that is The Market talking to YOU.

a pullback and return to current direction.....

Are YOU working with The Market as defined in my previous screenprint- are YOU be proactive and WAITING for the right opportunity - its about odds and probabilities that your trade will be a Winner.

Ronin,
A reversal due to x and Arrow which has more momentum.
X by itself is a minor Pullback.
cpfleger