M1 EUR countertrend scalps - very slow reaction times, must be friday!
every minute matters!
M1 Countertrend Scalping Strategy
- #8,482
- Edited 2:57am Jul 21, 2023 2:37am | Edited 2:57am
- Joined Dec 2022 | Status: Trader | 3,259 Posts
M1 EUR 1% scalps - here it is!
setting up...
entering and exiting like mad!
follow through...
and subsequent countertrend which i missed, bugger!
and then downtrend continuation...
countertrend with EXTREME caution under this scenario and don't expect a return to ema200 anytime soon, that is why it is better to NOT countertrend or follow the trend instead - this IS the primary cause of drawdown and should provide a hint on how to manage it when it occurs, it has to pass through each ema one by one to return giving you plenty of work to do while it does!
setting up...
entering and exiting like mad!
follow through...
and subsequent countertrend which i missed, bugger!
and then downtrend continuation...
countertrend with EXTREME caution under this scenario and don't expect a return to ema200 anytime soon, that is why it is better to NOT countertrend or follow the trend instead - this IS the primary cause of drawdown and should provide a hint on how to manage it when it occurs, it has to pass through each ema one by one to return giving you plenty of work to do while it does!
every minute matters!
- #8,483
- Jul 21, 2023 3:43am Jul 21, 2023 3:43am
- Joined Oct 2010 | Status: Trader | 2,033 Posts
Back from short holiday.
xinitial.
xinitial.
- #8,489
- Jul 21, 2023 6:15am Jul 21, 2023 6:15am
- Joined Oct 2010 | Status: Trader | 2,033 Posts
Friday Food For Thought, FEAR makes a Retail Trader hesitant due to our educational process is rewarded by winners and losers. Humans have been programmed to become bad traders. Traders need to re-program their BELIEFS. A Trading System should be based on simplicity and less Risk or Drawdown. A Demo Account should be equal to your future Live Account Balance to enhance your learning and development. Your Demo is the theory test, and your Live Account is the practical evaluation just like a Driver's License test. Go slow and learn to earn. Have a...
- #8,493
- Jul 21, 2023 7:25am Jul 21, 2023 7:25am
- Joined Dec 2022 | Status: Trader | 3,259 Posts
M1 EUR countertrend - scalpers delight!
every minute matters!
- #8,494
- Jul 21, 2023 7:35am Jul 21, 2023 7:35am
- Joined Dec 2022 | Status: Trader | 3,259 Posts
M1 EUR countertrend scalps - ema200 is heating up again!
every minute matters!
- #8,495
- Jul 21, 2023 11:38am Jul 21, 2023 11:38am
{quote} no more baby pips for you hey donny! you are doing magnificently and i very much appreciate your updates, thank you...
Quick update on yesterday's GBPUSD trades. TPs were hit at 12:51am (10:51am MT4 time) while I slept. Almost 5 hours after I closed the laptop for a total of 24.9 pips:
EURUSD trades from the 11th are slowly heading towards TPs. It's crossed under the 1H 200 EMA and tested it. Should be smooth chopping on down.
That is all. See ya.
{quote} always enjoy seeing your great trades with explanations Abade! look forward to seeing more... your references to support and resistance zones you marked with blue and red lines was curious to me though because i don't see any! but then when used as targets they are clear, is that you are anticipating a resistance or support zone being created on that line or is it not shown further back in the chart? silver spread and high spread in general is annoying, but your right, it's no reason you can't make money scalping from it, just have to be...
The "congestion" I refer to is basically the same concept as the POC (Point Of Control) when studying volume profiles. I added a volume profile indicator to the chart for clarification:
In hindsight I could've waited a bit to reach this zone before exiting the second setup for more profits.
These zones are not precisely support and resistance, they rather act as magnets and "gravity" centers for price action inside a range, where you'd expect to see support and resistance (entry points) at extreme levels.
And:
Hope that helps clarifying.
Happy weekend to everybody keep on rolling
- #8,497
- Jul 21, 2023 12:06pm Jul 21, 2023 12:06pm
- Joined Dec 2022 | Status: Trader | 3,259 Posts
no problem donny, you have it all under control!
thanks for clarifying Abade, i'll digest over the weekend...
for now i wrap up after working on a weakness i have when it comes to end of week trading, used to always be nervous and take losses, glad to say got through it unscathed this time!
thanks for clarifying Abade, i'll digest over the weekend...
for now i wrap up after working on a weakness i have when it comes to end of week trading, used to always be nervous and take losses, glad to say got through it unscathed this time!
every minute matters!
- #8,499
- Jul 21, 2023 11:50pm Jul 21, 2023 11:50pm
- Joined Dec 2022 | Status: Trader | 3,259 Posts
M1 BTC scalps - dancing around ema200!
every minute matters!
- #8,500
- Jul 22, 2023 2:34am Jul 22, 2023 2:34am
- Joined Dec 2022 | Status: Trader | 3,259 Posts
M1 BTC scalps - gap filler!
every minute matters!