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M1 Countertrend Scalping Strategy

  • #8,781
  • Aug 3, 2023 11:46am Aug 3, 2023 11:46am
Quoting cpfleger
Steverino832, Excellent dude. cpfleger
thank you, sir!
learned from the master him self!
without patience how can you be a trader?
  • #8,782
  • Aug 3, 2023 4:52pm Aug 3, 2023 4:52pm
Steverino832,
Your next request.
cpfleger
Attached Image (click to enlarge)
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  • #8,783
  • Aug 3, 2023 7:02pm Aug 3, 2023 7:02pm
First entry of the day:
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  • #8,784
  • Aug 3, 2023 7:10pm Aug 3, 2023 7:10pm
@cpfleger.
It looks the same, what a coincidence to have the same thoughts.
xinitial.
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  • #8,785
  • Aug 3, 2023 8:37pm Aug 3, 2023 8:37pm
Quoting mbfx
and it was the right decision to wait more ... {image}
Waitting and patience is the key.
xinitial.
  • #8,786
  • Aug 3, 2023 9:12pm Aug 3, 2023 9:12pm
Quoting xinitial
{quote} Waitting and patience is the key. xinitial.
What's funny is: as true as having patience is necessary, being able to quickly exit at predetermined targets is also required. I was going to and should have exited at the 50 EMA after my first entry. I thought it might go to the 200 EMA, which I still think it will. Something else that's hilarious: by the time it does go to the 200, it'll be near the same price as the 50 EMA was when I should have exited LOL.

Now I'm 4 entries deep with TP's set as it starts dropping with 47 minutes left in my allotted trading time:
Attached Image (click to enlarge)
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Trade and learn. Be a trading machine. Be mechanical.
  • #8,787
  • Aug 3, 2023 9:42pm Aug 3, 2023 9:42pm
Quoting Donny3rd
{quote} What's funny is: as true as having patience is necessary, being able to quickly exit at predetermined targets is also required. I was going to and should have exited at the 50 EMA after my first entry. I thought it might go to the 200 EMA, which I still think it will. Something else that's hilarious: by the time it does go to the 200, it'll be near the same price as the 50 EMA was when I should have exited LOL. Now I'm 4 entries deep with TP's set as it starts dropping with 47 minutes left in my allotted trading time: {image} Trade and learn....
No one knows what will happen in the future. Even if it's a few minutes.
I try not to predict what future market movements will be like, let alone to set a target, when we expect to achieve this target, the market always doesn't touch our target.
From there I draw conclusions, just follow the market flow by paying attention to the leg and body of the candle. Especially when all the candles move in 1 direction with good market volume, we can steal a few pips when there is resistance.
xinitial.
  • #8,788
  • Aug 3, 2023 9:57pm Aug 3, 2023 9:57pm
Avoid entry in blue box (Waitting).
When market move away from blue box (Waitting and patience).
Entry when there is a strong 1 wick HA candle in progres and take profit with in 3 candles (watch the movement).
This is all I learned from CPfleger and the results of the training so far.
xinitial.
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  • #8,789
  • Aug 4, 2023 1:41am Aug 4, 2023 1:41am
Quoting xinitial
{quote} No one knows what will happen in the future. Even if it's a few minutes. I try not to predict what future market movements will be like, let alone to set a target, when we expect to achieve this target, the market always doesn't touch our target. From there I draw conclusions, just follow the market flow by paying attention to the leg and body of the candle. Especially when all the candles move in 1 direction with good market volume, we can steal a few pips when there is resistance. xinitial.
otherwise known as "feeling the market"! you are doing very well, keep it up!
every minute matters!
  • #8,790
  • Aug 4, 2023 2:48am Aug 4, 2023 2:48am
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I haven't come this far to only come this far !
  • #8,791
  • Edited 5:27am Aug 4, 2023 2:58am | Edited 5:27am
With small lot size and the nearest ma as target, the win rate is high but the profit is small. What's funny is that I start to expect price goes against me more to give me chances to scale in, so that I can make more profits.

Here is an indicator that I use to find a confluence with my entry. I set "Time Frame to use" as "1 Hour" but you probably want to try others.

Sorry, wrong indicators. Here is the correct one.
Attached File(s)
File Type: ex4 Fractals - support and resistance (mtf + alerts) m2.ex4   27 KB | 355 downloads

From here
  • #8,792
  • Aug 4, 2023 3:27am Aug 4, 2023 3:27am
Quoting niks
{quote} otherwise known as "feeling the market"! you are doing very well, keep it up!
Let's follow the market. Yes, we can do it !
xinitial.
  • #8,793
  • Aug 4, 2023 5:19am Aug 4, 2023 5:19am
Quoting xinitial
@cpfleger. It looks the same, what a coincidence to have the same thoughts. xinitial.{image}
Hi, what indicator is it? Thanks
  • #8,794
  • Aug 4, 2023 5:24am Aug 4, 2023 5:24am
It feels good.

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  • #8,795
  • Aug 4, 2023 5:30am Aug 4, 2023 5:30am
-10 pips... one minute time frame is not for me
  • #8,796
  • Aug 4, 2023 6:14am Aug 4, 2023 6:14am
Quoting mbfx
-10 pips... one minute time frame is not for me
I trade 1-minute tf. Always tp at ema20 even the profit is small but the loss is small too.
  • #8,797
  • Aug 4, 2023 6:33am Aug 4, 2023 6:33am
Quoting zkchyo
{quote} I trade 1-minute tf. Always tp at ema20 even the profit is small but the loss is small too.
do you use KOF strategy or just one trade till it hit the MAs?
  • #8,798
  • Aug 4, 2023 6:38am Aug 4, 2023 6:38am
Quoting mbfx
{quote} do you use KOF strategy or just one trade till it hit the MAs?
I use KOF. You can tell from my history that I scale-in like KOF did in the tough trend video. The only difference is that I always tp at ema20.
  • #8,799
  • Aug 4, 2023 7:05am Aug 4, 2023 7:05am
Quoting zkchyo
{quote} I use KOF. You can tell from my history that I scale-in like KOF did in the tough trend video. The only difference is that I always tp at ema20.
Interesting to know. I love KOF videos on Youtube. I was thinking though if I was premier league footballer this is how I would trade. Just trading 4 or 5 pip moves on the M1 chart but 10 standard lots! (Yes I know he has flipped smaller accounts).
  • #8,800
  • Aug 4, 2023 7:20am Aug 4, 2023 7:20am
Quoting hostwey
{quote} Interesting to know. I love KOF videos on Youtube. I was thinking though if I was premier league footballer this is how I would trade. Just trading 4 or 5 pip moves on the M1 chart but 10 standard lots! (Yes I know he has flipped smaller accounts).
10 standard lots. If price goes against you, you surely need a premier league footballer's deep pocket to average cost down. But you probably make more and retire from your professional career.
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Aromos