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M1 Countertrend Scalping Strategy

  • #9,941
  • Oct 23, 2023 9:05pm Oct 23, 2023 9:05pm
Quoting niks
M1 AUD trend scalps - advanced ema strategy in action! {image} {image} {image}

I'm brand new to learning mean reversion strategies and I've been watching your charts for a while.

In the very middle of your first picture with the double top and the overextension of what looks to be like the 9 EMA right before the double top, could those areas have been places to take counter-trend trades and set the green 200 EMA as a profit target?
  • #9,942
  • Oct 23, 2023 9:29pm Oct 23, 2023 9:29pm
Quoting TransparentT
{quote} I'm brand new to learning mean reversion strategies and I've been watching your charts for a while. In the very middle of your first picture with the double top and the overextension of what looks to be like the 9 EMA right before the double top, could those areas have been places to take counter-trend trades and set the green 200 EMA as a profit target?
welcome to the exciting world of mean reversion!

it actually looks like a triple top and they were all perfect entries and yes that is ema9, the first peak would be a very aggressive entry, the second top which was immediately rejected was a good choice if you caught it, otherwise the third top for sure... targeting between ema50 and ema200 would be the conservative choice and ema200 would be more aggressive, so it just depends on your preferred trading style...

best of luck to you!
every minute matters!
  • #9,943
  • Edited 11:16pm Oct 23, 2023 11:06pm | Edited 11:16pm
M1 EUR countertrend scalps - assisted by uk open!
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forgot to set target on one of the orders, so added another while waiting!
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every minute matters!
  • #9,944
  • Edited 11:56pm Oct 23, 2023 11:40pm | Edited 11:56pm
Quoting niks
M1 BTC countertrend scalps - adapting a keltner channel for optimum performance... a major advantage using the keltner channel is the ability to configure it to suit any market condition and risk profile - put simply, the ability to expand or narrow the channels to wrap the most recent price action accordingly offering aggressive or conservative entry and exit points depending on the settings... {image} i adjusted the settings on BTC for the weekend to suit the lower volumes and tighter ranges aiming for quicker scalps rather than longer term as...
hi nik

i think you trade this scalp at least for a year . don't you have problem to trade with ought stop and you never lost your account?
  • #9,945
  • Oct 24, 2023 12:37am Oct 24, 2023 12:37am
Quoting korosh1350
{quote} hi nik i think you trade this scalp at least for a year . don't you have problem to trade with ought stop and you never lost your account?
hi korosh, that's correct, i discovered and started trading this method last october - of course initially i had many problems and losses trading without stop loss, i had never traded like that before - after many, many hours of practice, i no longer have a problem trading without stop loss - i have a demo and live account, both of which are still alive and doing very well, a lot better than when i used to trade with stop loss, and i have a very conservative money management, so i'm far from having made a killing yet, but i am making consistent profits which are ready to grow whenever i am at this stage...
every minute matters!
  • #9,946
  • Oct 24, 2023 12:57am Oct 24, 2023 12:57am
Quoting niks
{quote} hi korosh, that's correct, i discovered and started trading this method last october - of course initially i had many problems and losses trading without stop loss, i had never traded like that before - after many, many hours of practice, i no longer have a problem trading without stop loss - i have a demo and live account, both of which are still alive and doing very well, a lot better than when i used to trade with stop loss, and i have a very conservative money management, so i'm far from having made a killing yet, but i am making consistent...
thanks nik for your answer

if I understand correctly you still trade with ought stop with low volume entry to manage the trade i wonder do you try to trade with proper stop ?
  • #9,947
  • Oct 24, 2023 2:51am Oct 24, 2023 2:51am
Quoting korosh1350
{quote} thanks nik for your answer if I understand correctly you still trade with ought stop with low volume entry to manage the trade i wonder do you try to trade with proper stop ?
you're welcome korosh, you have understood correctly, i trade low volume relative to account size while i continue my development of this strategy - i tried many years during my spare time to find a strategy that works with stop loss, i could not get one to work for me, now i have chosen to trade full time using this strategy because it works for me and i am prepared to commit myself to it, and i will continue to use it without stop loss, this is one strategy that will NEVER work with a stop loss, it defeats the purpose of using cost averaging for risk management - however, i will always continue to explore other options as i have more recently with keltner channels, it is still very far off before i use it live and i have considered incorporating a stop loss if it suits, i'm sure i'll post further updates as it develops...
every minute matters!
  • #9,948
  • Oct 24, 2023 5:33am Oct 24, 2023 5:33am
M1 EUR countertrend scalps - without price action, i cannot feel the emotions of other traders!

feeling the emotions of other traders, and recognising my own if i were in the same situation with a stop loss, allows me to make dynamic trade adjustments based on candle behaviour in order to attain maximum profits!
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every minute matters!
  • #9,949
  • Oct 24, 2023 7:02am Oct 24, 2023 7:02am
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  • #9,950
  • Oct 24, 2023 5:42pm Oct 24, 2023 5:42pm
M1 GBP countertrend scalps - support and resistance are made to be broken!

support and resistance is unknown until it has formed after the fact, it does not provide direction...

otherwise price will always stop and reverse from that point on and that rarely happens which is a major factor in why i prefer not to use a stop loss but rather manage the trade as each bar plays out!
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every minute matters!
  • #9,951
  • Oct 24, 2023 6:39pm Oct 24, 2023 6:39pm
M1 GBP countertrend scalps - using price action to anticipate support and resistance!

support and resistance holds more sway when backed by a price action reverse signal, such as this double top which was also a bullish outside bar, double top won!
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every minute matters!
  • #9,952
  • Oct 24, 2023 8:04pm Oct 24, 2023 8:04pm
M1 GBP trend scalps - using price action and ema's to avoid a bad countertrend and catch the trend instead!

the initial ema9 overextension in this case was not entering into any area of resistance so was not a good countertrend opportunity, the second push was okay, but the tails on the top two bars suggested buying pressure, the ema's however provided a strong hint of an uptrend ensuing as price bounced strongly off ema9 just prior to entry, so entered long off ema's 9, 20 and 50 targeting a break of resistance...
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price holds above ema50 and starts pushing upwards toward resistance where it faces a battle between buyers and sellers, it breaks but then just misses targets, so enter a final order on the pullback to ema50 where price bounces and continues up where it faces another battle but finally breaks the most recent resistance squeezing out the shorts and into targets!
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every minute matters!
  • #9,953
  • Oct 24, 2023 10:59pm Oct 24, 2023 10:59pm
M1 GBP countertrend scalps - action picks back up after a bit of sideways!

a very nice overextension of ema9 into a strong resistance area where previous profits were taken, worth a shot for sure, target a bit above ema200 into support area...
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small profits were available on the return to ema50, but i anticipate a break of it down towards ema200 as resistance holds...
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which it does!
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every minute matters!
  • #9,954
  • Oct 24, 2023 11:30pm Oct 24, 2023 11:30pm
M1 GBP countertrend scalps - countertrend to countertrend!

often, the target point for a countertrend trade turns out to be an ideal entry point as well - when it extends beyond
that point, it is an even better entry point - provided a new trend isn't forming...
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in those cases, the ideal exit point is the exit point of the previous countertrend trade...
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now the bottom has been hit, there is only on way to go!
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a test of nerve follows as price does a drive by on my targets leaving them vulnerable, but ema200 is irresistible!
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a ranging market offers great countertrend opportunities...
every minute matters!
  • #9,955
  • Oct 25, 2023 4:28am Oct 25, 2023 4:28am
King of Forex is live .. Master
  • #9,956
  • Oct 25, 2023 6:16am Oct 25, 2023 6:16am
M1 EUR countertrend scalps - overextension into support!

missed the first one, so took the second one forming a double bottom targeting a break of resistance above ema200 now that the breakout shorts are trapped!
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a break and hold above ema200 provides an easy path toward to targets, but targets are set too high as the anticipated break doesn't eventuate and drops back to ema200, but then price holds above ema200 so i lift the targets as the faster ema's now begin to cross ema200
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after a bit of a struggle around ema200 while direction was being decided, the bullish power ended up victorious along with my trade!
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every minute matters!
  • #9,957
  • Oct 25, 2023 10:07pm Oct 25, 2023 10:07pm
KOF has been doing some heavy self promotion and marketing in the last week or so, plus changing up his 1% Club Membership fees... business must be a bit flat
We don't see things as they are - we see things as we are.
  • #9,958
  • Oct 26, 2023 1:13am Oct 26, 2023 1:13am
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I haven't come this far to only come this far !
  • #9,959
  • Oct 26, 2023 2:18am Oct 26, 2023 2:18am
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I haven't come this far to only come this far !
  • #9,960
  • Oct 26, 2023 4:10am Oct 26, 2023 4:10am
Quoting sonicvista12
KOF has been doing some heavy self promotion and marketing in the last week or so, plus changing up his 1% Club Membership fees... business must be a bit flat
i study and follow KoF's strategy so i can learn to execute it myself, not to copy his execution of it... he knows there are two types of traders and makes the most of it!

i have repeatedly warned about following KoF live streams with real money in this thread, i have never followed one, and i will never recommend anyone does, most traders will not be able to match his execution style and be left stranded during bad times...

i do recommend aspiring traders watch his replays as much as possible and study ALL his material thoroughly... and then practice it with every spare minute they can muster!

Quoting Amiraven
{image}
first the warm up, then the real work begins, excellent trading amir!
every minute matters!
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