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M1 Countertrend Scalping Strategy

  • #9,481
  • Sep 6, 2023 10:04pm Sep 6, 2023 10:04pm
Times up. Here's all I got going today.

Sold and then averaged up (don't really like this but thought I'd try) on GBPUSD. It's ongoing but TPs are set:
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Took two really sells on USDJPY and got out at a total of 25.2 pips. Then I though it was about to pull back and switched directions. It went a little lower and I got in again a little early not realizing I was watching the 1m. Ooops. Got back to the 5m and made a third buy entry at major support. TPs are set and foods about to be eaten:
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  • #9,482
  • Sep 7, 2023 1:53am Sep 7, 2023 1:53am
Quoting Abade
{quote} Welcome @ForexTradey. Some tips based on the provided example: 1) You are trading 5 lots per position in a 50,000 account, that's x10 times bigger than the recommended size. Try 0.5 instead for this demo account (0.01 per $1000). 2) You are using all your bullets (entries) around the same level. Try to spread your positions using the "9 EMA crossing the latest entry line" rule described in post #1 to prevent this. 3) You have HA candles ON but still ignoring their readings. You may notice that they have no upper wicks, this means price is...

Thank you for your response, will look into the points, regarding the demo account the one I'm using is mainly for the low spreads not sure why their demo has a high commission but my live brokers demo accounts all have crazy high spreads so only use IC just to test with the spreads.
  • #9,483
  • Sep 7, 2023 7:16am Sep 7, 2023 7:16am
M1 GBP countertrend scalps - using ema9 overextension and ema200 resistance for entries, targeting break of ema50 for exits!
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every minute matters!
  • #9,484
  • Sep 7, 2023 7:20am Sep 7, 2023 7:20am
M1 GBP countertrend scalps - now using support and resistance for a double dip thanks to the reliable leading indicator known as price action!
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every minute matters!
  • #9,485
  • Sep 7, 2023 7:35am Sep 7, 2023 7:35am
M1 GBP countertrend scalp - couldn't resist a triple dip!
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every minute matters!
  • #9,486
  • Sep 7, 2023 7:42am Sep 7, 2023 7:42am
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I haven't come this far to only come this far !
  • #9,487
  • Sep 7, 2023 7:58am Sep 7, 2023 7:58am
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I haven't come this far to only come this far !
  • #9,488
  • Sep 7, 2023 8:02am Sep 7, 2023 8:02am
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I haven't come this far to only come this far !
  • #9,489
  • Sep 7, 2023 9:07am Sep 7, 2023 9:07am
M1 GBP countertrend scalps - it wasn't my fault, price action made me do it!
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every minute matters!
  • #9,490
  • Sep 7, 2023 9:49am Sep 7, 2023 9:49am
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I haven't come this far to only come this far !
  • #9,491
  • Sep 7, 2023 6:17pm Sep 7, 2023 6:17pm
Made this post right before leaving to work 10 hours ago and forgot to hit post lol.

Quick check before work, GBPUSD TP's hit for 14.8 pips:

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  • #9,492
  • Sep 7, 2023 7:43pm Sep 7, 2023 7:43pm
Quoting Darwati
Here Indicator that I used for counter trend Green Arrow for Buy Counter Trend , close on Green Dot / Zigzag value Red Arrow for Sell Counter Trend , close on Red Dot /Zigzag value but I'm sorry there are restrictions on using a live account, if the profit is more than 50, the indicator will stop ,applies every day ( You Have Setting Account History to Today) for close order = 1st /2nd Dot or Peak/Valley Zigzagm ( Close all order ) only for those who are trying to find another experience {file} {image}
I put your template in a demo account that I created at the today, but your template still doesn't work '-'
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  • #9,493
  • Sep 7, 2023 9:32pm Sep 7, 2023 9:32pm
Quoting killervsr
{quote} I put your template in a demo account that I created at the today, but your template still doesn't work '-' {image}
it uses a simple algo with profit restrictions, so today's deposit is considered a profit,

you can try it tomorrow and make sure the account history is always today
  • #9,494
  • Sep 7, 2023 9:49pm Sep 7, 2023 9:49pm
Quoting Darwati
{quote} it uses a simple algo with profit restrictions, so today's deposit is considered a profit, you can try it tomorrow and make sure the account history is always today
The restriction I made was to wait for someone in FF to be able to decompile it

and now i know that it is true

and in the future I will not share anything with restrictions
  • #9,495
  • Sep 7, 2023 10:13pm Sep 7, 2023 10:13pm
Trading time is up. I mostly focused on the ongoing USDJPY trades from yesterday. I made two more buy entries. I'll check on it tomorrow before market close. If it goes over the weekend at least I'm in positive swap.
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  • #9,496
  • Sep 7, 2023 10:25pm Sep 7, 2023 10:25pm
HA indicator but with a different strategy

Just to increase your insight,

you can use each indicator for counter trend and trend techniques

get to know more about one of the two,

whoever is able to master both, maybe he will be successful in the forex industry

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  • #9,497
  • Sep 8, 2023 12:26am Sep 8, 2023 12:26am
M1 AUD countertrend scalps - using ema200 support for entries, and then countertrend into mini trend into resistance for exits!
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Quoting Donny3rd
If it goes over the weekend at least I'm in positive swap. {image}
positive swaps are addictive! also be aware that to make up for the weekend, currency pairs are charged TRIPLE swap on wednesday rollover and fridays for crypto...
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every minute matters!
  • #9,498
  • Sep 8, 2023 4:45am Sep 8, 2023 4:45am
Darwati,
I agree, become a Process Master and not a one trick pony.
cpfleger
  • #9,499
  • Sep 8, 2023 7:46am Sep 8, 2023 7:46am
M1 AUD countertrend scalps - using ema200 support for entries, and then countertrend into mini trend into resistance for exits, once again!
Attached Image (click to enlarge)
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every minute matters!
  • #9,500
  • Sep 8, 2023 7:55am Sep 8, 2023 7:55am
Attached Image (click to enlarge)
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alanmia
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