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M1 Countertrend Scalping Strategy

  • #6,741
  • Jun 21, 2023 9:07pm Jun 21, 2023 9:07pm
Quoting cpfleger
Gents, YOU can do this, just relax and let the 1 Wick Candle come to YOU. You can buy or sell anytime this candle opens until it closes - you have time. Watch the Wicks once a trade opens. Use either 5M or 15M TF and go SLOW. One trade at a time, record all trades in a Journal, log your data and every Friday do feedback to yourself or spouse. Trading is about the 2 - 2 of simple Indicators, 2 decisions, 2 colors, etc. Quit thinking just follow the Banks (trend or countertrend) cpfleger {image}
Thank you for being our great teacher and sharing this awesome indicator that aids my trading decision well.
We only trade when there is AGREEMENT. Get 1% Better Each Day!
  • #6,742
  • Jun 22, 2023 1:06am Jun 22, 2023 1:06am
M1 VHF scalps! a fruitful collection
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every minute matters!
  • #6,743
  • Jun 22, 2023 1:54am Jun 22, 2023 1:54am
M1 VHF scalps - breaking the speed limit!
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every minute matters!
  • #6,744
  • Jun 22, 2023 2:09am Jun 22, 2023 2:09am
more than enough for today...
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every minute matters!
  • #6,745
  • Jun 22, 2023 2:39am Jun 22, 2023 2:39am
Practice makes perfect, I can't take my eyes off the sexy legs.

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  • #6,746
  • Jun 22, 2023 2:59am Jun 22, 2023 2:59am

  1. xinitial . i see that XAUUSD has 40 spread . u must be using FBS broker .. well i suggest you to use better spread broker . Also FBS has still not given out my withdrawal ...

  • #6,747
  • Jun 22, 2023 3:05am Jun 22, 2023 3:05am
Quoting fateh888
xinitial . i see that XAUUSD has 40 spread . u must be using FBS broker .. well i suggest you to use better spread broker . Also FBS has still not given out my withdrawal ...
While using fbs, even though sometimes withdrawals experience a little delay, they always pay, I also use exness.
I'm also looking for a better broker, with low spreads and fast withdrawals. If there's anything good, please let me know. Thanks
xinitial.
  • #6,748
  • Jun 22, 2023 4:04am Jun 22, 2023 4:04am
my teacher told me to pay attention to sexy leg
xinitial.
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  • #6,749
  • Jun 22, 2023 5:40am Jun 22, 2023 5:40am
xinitial,
Excellent results even with a silly spread Broker. This is the main reason why I trade Bitcoin on the weekends, master the silly spreads and all other Instruments will be easier. Additional helpful hint - take the vertical drawing tool and paint a vertical dotted line on your entry Candle as a marker and then watch those Legs like a hawk for your future exit..
cpfleger
  • #6,750
  • Jun 22, 2023 5:52am Jun 22, 2023 5:52am
Quoting cpfleger
xinitial, Excellent results even with a silly spread Broker. This is the main reason why I trade Bitcoin on the weekends, master the silly spreads and all other Instruments will be easier. Additional helpful hint - take the vertical drawing tool and paint a vertical dotted line on your entry Candle as a marker and then watch those Legs like a hawk for your future exit.. cpfleger
Thank you for the advice. I immediately do it when there is an entry.
  • #6,751
  • Jun 22, 2023 6:15am Jun 22, 2023 6:15am
Gents,
Any questions now is your chance to ask any and all questions - no such thing as a dumb question.
cpfleger
  • #6,752
  • Jun 22, 2023 6:25am Jun 22, 2023 6:25am
Thursday Trades, so far....
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  • #6,753
  • Jun 22, 2023 6:43am Jun 22, 2023 6:43am
Over 20 Traders reviewing this Forum and only few post their trades, why ????
YOU will not build confidence up until you show your new SKILLS.
cpfleger
  • #6,754
  • Jun 22, 2023 6:46am Jun 22, 2023 6:46am

  1. cpfleger i want to ask a question Sir' can we buy at price above EMA 9 or just ignore EMA 9 ? Mostly 1 wick HA forms above EMA 9 while I try to buy for countertrend .. should we wait for price to get below EMA 9 for buying ???

  • #6,755
  • Jun 22, 2023 6:54am Jun 22, 2023 6:54am
cpfleger ,. have I taken okay trade .. Also have I put limit order at correct place ? / please tell me
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  • #6,756
  • Jun 22, 2023 6:57am Jun 22, 2023 6:57am
fateh888,
Firstly, please always screenprint for I can see what your asking.
Secondly, it sounds like your mixing the EMA Strategy with the 1 Wick Candle Strategy. EMA has MA's for the sole purpose of Resistance and Support Zones even though the MA's are Lines, they are Zones and act as Targets too.
The 1 Wick Candle Strategy is based on Momentum Candle formations by the Market and are the higher probability candle to make money as a Retail Trader.
Now I am sure you could mix both and win but I would like to see a screenprint before technically answering your question.
cpfleger
  • #6,757
  • Jun 22, 2023 7:04am Jun 22, 2023 7:04am
i'm kidding myself, it's never enough!
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every minute matters!
  • #6,758
  • Jun 22, 2023 7:06am Jun 22, 2023 7:06am
fateh888,
Your Chart Trade is correct and remember EMA's are Zones and Targets.
So draw a vertical dotted line on the opening 1 wick candle for you can see the exact location of the trade and watch its wick / candle performance.
The EMA's are acting as Resistance Zones and the temporary Targets that YOU want to meet / hit / exit.
cpfleger
  • #6,759
  • Jun 22, 2023 7:13am Jun 22, 2023 7:13am
fateh888,
Why did you place a Buy Limit ?
Your active trade position is correct, you doubt the Market or yourself ?
cpfleger
  • #6,760
  • Jun 22, 2023 7:25am Jun 22, 2023 7:25am

  1. cpfleger . i doubt the Market . that is why i put limit .. but i closed the limit as soon as First trade hit EMA .so right now . i am out of market all . but if first trade would have not Touched EMA(my Tp*) . i would be averaging trade . as i don't like Stop Loss. or don't really know how to really benefit from Stop Loss .

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