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M1 Countertrend Scalping Strategy

  • #9,421
  • Aug 31, 2023 9:13am Aug 31, 2023 9:13am
M1 AUD countertrend scalps - "once you've done it a lot, you just know!" - al brooks...
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every minute matters!
  • #9,422
  • Aug 31, 2023 9:58am Aug 31, 2023 9:58am
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I haven't come this far to only come this far !
  • #9,423
  • Aug 31, 2023 10:10am Aug 31, 2023 10:10am
Volatility was nice after the news and price was erratic and rangy...perfect hunting grounds. I used the EMAs today. Most trades were countertrend, with just a couple with the trend thrown in. Lots of quick scalps and out by London close with my daily profit target.
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  • #9,424
  • Aug 31, 2023 10:15am Aug 31, 2023 10:15am
I use a daily profit target to encourage discipline and control greed. If I haven't met my profit target, it gives me the self-discipline to put a little more screen time in for the day. It's kind of like working overtime. However, if I hit my daily target early in the session, it controls my greed by making me get out and not chase more money.

Some argue against daily profit targets, and I can see the validity of their arguments. For me though, it meshes well with my personality. My daily target is an amount that I know I can reasonably do even on slower days. It also helps me keep an even equity curve, so I can plan for my expected profits. Just like any other business, my trading business needs a business plan and that includes revenue projections.
  • #9,425
  • Aug 31, 2023 10:57am Aug 31, 2023 10:57am
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I haven't come this far to only come this far !
  • #9,426
  • Aug 31, 2023 11:05am Aug 31, 2023 11:05am
August's Statement
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I haven't come this far to only come this far !
  • #9,427
  • Aug 31, 2023 10:23pm Aug 31, 2023 10:23pm
Had a good gut surf day.

Took a buy a bit early. Didn't enter again as it got 5 pips away and not plus spread so it didn't meet my averaging plan criteria. Then I exited for 16.1 pips and flipped directions based on 1m price action. Exited the second trade because time was up. Thought it would go lower because things seem to travel in waves of three, but exited for 19.9 pips. Perhaps I should have set a TP. Was aiming for 25 pips. Got 36 pips total in and out twice. I'm happy!

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And here's my report so far since starting thing demo account. 97.97% win rate! WTF! LOL. Many thanks are due. Hope you know who you are. Goodnight and good weekend everyone.

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  • #9,428
  • Aug 31, 2023 10:30pm Aug 31, 2023 10:30pm
Quoting Donny3rd
Had a good gut surf day. Took a buy a bit early. Didn't enter again as it got 5 pips away and not plus spread so it didn't meet my averaging plan criteria. Then I exited for 16.1 pips and flipped directions based on 1m price action. Exited the second trade because time was up. Thought it would go lower because things seem to travel in waves of three, but exited for 19.9 pips. Perhaps I should have set a TP. Was aiming for 25 pips. Got 36 pips total in and out twice. I'm happy! {image} And here's my report so far since starting thing demo account....
killing it! well done!
without patience how can you be a trader?
  • #9,429
  • Sep 1, 2023 7:08am Sep 1, 2023 7:08am
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I haven't come this far to only come this far !
  • #9,430
  • Sep 1, 2023 7:24am Sep 1, 2023 7:24am
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I haven't come this far to only come this far !
  • #9,431
  • Sep 1, 2023 7:34am Sep 1, 2023 7:34am
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I haven't come this far to only come this far !
  • #9,432
  • Sep 1, 2023 7:43am Sep 1, 2023 7:43am
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I haven't come this far to only come this far !
  • #9,433
  • Sep 1, 2023 7:54am Sep 1, 2023 7:54am
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I haven't come this far to only come this far !
  • #9,434
  • Sep 1, 2023 7:59am Sep 1, 2023 7:59am
my trading account is MT4, not MT5, so i don't have all those arrows of trades... but I've screenshotted (?) some EU NFP scalps after the climactic move up between the 2 price levels on the chart... in the spirit of KOF, without the EMAs...
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We don't see things as they are - we see things as we are.
  • #9,435
  • Sep 1, 2023 8:08am Sep 1, 2023 8:08am
100% Profit in one month !
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I haven't come this far to only come this far !
  • #9,436
  • Sep 1, 2023 8:14am Sep 1, 2023 8:14am
Quoting Amiraven
100% Profit in one month ! {image}
without patience how can you be a trader?
  • #9,437
  • Sep 1, 2023 12:34pm Sep 1, 2023 12:34pm
Was almost out with my daily profit and got stuck in a trade. To be continued…
  • #9,438
  • Sep 2, 2023 1:10am Sep 2, 2023 1:10am
Abade has provided the platform for us to share our journey together and here, on this page we have the culmination of that journey and a clear direction forward as we work harder to further improve our results - we all have very much to be proud of, CONGRATULATIONS to all!!!

august was also the best month for my live account!
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every minute matters!
  • #9,439
  • Edited 7:48am Sep 2, 2023 5:02am | Edited 7:48am
Quoting niks
Abade has provided the platform for us to share our journey together and here, on this page we have the culmination of that journey and a clear direction forward as we work harder to further improve our results - we all have very much to be proud of, CONGRATULATIONS to all!!! august was also the best month for my live account! {image} {image}
Hello niks , You are doing great
How did you come to this result?, did you use other tips or tools other than KOF and Abade in trading or did you trade with what abade said? Yesterday at the end of the market, I traded in the Eur/Usd with the KOF strategy, but as you saw, the price dropped sharply and I lost. Where did the mistake come from? Didn't you trade on the eur/usd yesterday at the end of the market?
  • #9,440
  • Sep 2, 2023 2:36pm Sep 2, 2023 2:36pm
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