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M1 Countertrend Scalping Strategy

  • #6,661
  • Jun 21, 2023 4:34am Jun 21, 2023 4:34am
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  • #6,662
  • Jun 21, 2023 4:39am Jun 21, 2023 4:39am
fateh888,
Yes but the first 1 wicked candle, see my last screenprint and start to think about Buying once the bottom green x has painted.
You wait for the next green candle which is i=usually a 2 wicked candle and then we put our finger on the mouse and get ready as usually a 1 wicked candle will open shortly and we open a trade, set the SL and add a trailing stop loss of 1.5 points to assist in gaining a winning trade.
cpfleger
  • #6,663
  • Jun 21, 2023 4:42am Jun 21, 2023 4:42am
Quoting niks
{quote} 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!
Yeah, thanks again. I'm aware of the daily levels and the structural pivots on the HT which can be good reversal points.
I was on a winning streak and got in loosely without looking on my position sizes. Wrote it down for my self. Need to stay focused and patiece ...
Im still in a DD because of my over confidence but i see price coming back at least 50% on the daily candleas it has done in the previous 3 - 4 weeks ...

My german is better than my english
I understand the bid and ask part and what you are going for. I just dont understand what your trigger is. Fading micro movements and averaging it out if price doesn't come back instantly? Sorry for my ignorance
  • #6,664
  • Jun 21, 2023 4:43am Jun 21, 2023 4:43am
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  • #6,665
  • Jun 21, 2023 4:43am Jun 21, 2023 4:43am
Quoting cpfleger
Gents, I will add the fact all EMAs are zones and act as Support and Resistant Zones and for me they are temporary targets. I use this ratio as a Guide only, 9 Ema - 100%, 20 Ema - 75% (which my last screenprint trade hit - 4th and 5th candle wick), 50 Ema - 50% and 200 Ema - 25%. Do not take any EMA literally but as a guide due to the market will reverse quicker than you think especially over the last 3 years (Covid 19). I trade the HA Candle (Price Action) as the master decision maker but use the EMAs as targets if the market allows me to meet....
Cpfleger, do you still stand by this guide and i wanted to ask you what you think about daily goals like 1%?
  • #6,666
  • Jun 21, 2023 4:45am Jun 21, 2023 4:45am
good morning guys
without patience how can you be a trader?
  • #6,667
  • Jun 21, 2023 4:52am Jun 21, 2023 4:52am

  1. Steverino832 . Good Morning .. Mine is Good Afternoon . Cheers

  • #6,668
  • Jun 21, 2023 5:17am Jun 21, 2023 5:17am
Mojoloto,
When I use KoF on the 1 or 5M TF's the Guide you are talking about was an indication that the Market will hit the EMA's and according to my history of over 3 years using the KoF Strategy, I can hit the 20 EMA over 90% of the time which enabled me to have a great performance record. Alot of other people here shoot for the 200 EMA but if you did your research you would find the 235 EMA is better over the last 10 years by the Banks but I do not care because when you scalp on the 1 or 5M TF's the 20 EMA is my target. This is based on daily trading with KoF EMA System.
cpfleger
  • #6,669
  • Jun 21, 2023 5:24am Jun 21, 2023 5:24am
Mojoloto,
If your asking about a Daily Trading Plan Goal of 1% or greater per day then that is the objective of the Trader using his / her system and strategy. I shoot for 5 to 10% per day depending on the account balance, its harder with a small account because it requires more focus.
cpfleger
  • #6,670
  • Jun 21, 2023 5:26am Jun 21, 2023 5:26am
Half way....
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  • #6,671
  • Jun 21, 2023 5:35am Jun 21, 2023 5:35am
Quoting cpfleger
Mojoloto, When I use KoF on the 1 or 5M TF's the Guide you are talking about was an indication that the Market will hit the EMA's and according to my history of over 3 years using the KoF Strategy, I can hit the 20 EMA over 90% of the time which enabled me to have a great performance record. Alot of other people here shoot for the 200 EMA but if you did your research you would find the 235 EMA is better over the last 10 years by the Banks but I do not care because when you scalp on the 1 or 5M TF's the 20 EMA is my target. This is based on daily...
Quoting cpfleger
Mojoloto, If your asking about a Daily Trading Plan Goal of 1% or greater per day then that is the objective of the Trader using his / her system and strategy. I shoot for 5 to 10% per day depending on the account balance, its harder with a small account because it requires more focus. cpfleger
Those are some exceptional performances and definitely something worth working towards to.
Thank you!
  • #6,672
  • Jun 21, 2023 5:36am Jun 21, 2023 5:36am
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  • #6,673
  • Jun 21, 2023 5:39am Jun 21, 2023 5:39am
Mojoloto,
Yes over the last 3 years but 5 years ago I was lost due toooooooo many systems and choice.
I simplified when I watched KoF Video's over 3 years ago.
cpfleger
  • #6,674
  • Jun 21, 2023 5:43am Jun 21, 2023 5:43am

  1. cpfleger . in above GBPUSD buy . you have bought without waiting for close of 15 MIN HA candle and now it is down .. i was late to buy because i waited for candle to be formed .. that makes sense .. but this can put trader in fake out trade i guess .

  • #6,675
  • Jun 21, 2023 5:43am Jun 21, 2023 5:43am
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  • #6,676
  • Jun 21, 2023 5:53am Jun 21, 2023 5:53am
fateh888,
As I said before, expect a Pullback and there is no guarantees in this business just like life.
When we have a 1 wicked candle that means during the candle time only that there is momentum in the candle direction and has no guarantee or warranty on the next candle because forex market is not centralized like the stock market and this means Human are buying and selling at the same time which causes Pullbacks. No Indicator is perfect in an emotional market, so have a choice to buy immediately or wait after the pullback and you must learn to earn.
cpfleger
  • #6,677
  • Jun 21, 2023 6:00am Jun 21, 2023 6:00am

  1. cpfleger . so right now you are in open buy trade of GBPUSD . this is a good learning trade . how you will get out of this will make us all better in these types of situations .. this is the only problem i am facing . how to get out of this stuck in trend trade

  • #6,678
  • Jun 21, 2023 6:04am Jun 21, 2023 6:04am
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just an ugly trade all the way around lucky to get some pips but all in all a bad trade.
without patience how can you be a trader?
  • #6,679
  • Jun 21, 2023 6:06am Jun 21, 2023 6:06am
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  • #6,680
  • Jun 21, 2023 6:11am Jun 21, 2023 6:11am
Steverino832,
Why was it a bad trade then ? Your still determined to use the 1M TF, yes but you enter late and I will screenprint and show you.
cpfleger
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