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M1 Countertrend Scalping Strategy

  • #10,021
  • Nov 2, 2023 4:00am Nov 2, 2023 4:00am
Quoting zacktrader08
Interesting strategy. I want to ask how to calculate the lot size for the recovery trades?
there is nothing to calculate, you pick a fixed lot size and stick to it throughout the entire trade, look CLOSELY at the snapshot below your question - you can compound it as the account grows if you wish...
every minute matters!
  • #10,022
  • Nov 2, 2023 4:44am Nov 2, 2023 4:44am
Quoting niks
{quote} there is nothing to calculate, you pick a fixed lot size and stick to it throughout the entire trade, look CLOSELY at the snapshot below your question - you can compound it as the account grows if you wish...
ah ok, i didnt see the lot size in your snapshot.
what is the parameter for which you need to place another trade? the keltzer channel?
  • #10,023
  • Nov 2, 2023 5:21am Nov 2, 2023 5:21am
Quoting zacktrader08
{quote} ah ok, i didnt see the lot size in your snapshot. what is the parameter for which you need to place another trade? the keltzer channel?
actually it was another traders snapshot, not mine, there are no fixed rules for this strategy, it still is as it is explained in post #1 and numerous other posts within the thread... the keltner channel is just an aid to the core strategy and can be used however you wish...
every minute matters!
  • #10,024
  • Nov 2, 2023 5:34am Nov 2, 2023 5:34am
M1 AUDUSD - target tracker!

getting stuck in sideways action is really bad for the ema strategy as the ema's eat into the profits as time moves on - the opposite is true using the keltner channel as a guide - now when i'm stuck in sideways, i can continually make favourable target adjustments in line with the extreme edges for maximum profits!
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every minute matters!
  • #10,025
  • Nov 2, 2023 6:16am Nov 2, 2023 6:16am
Quoting niks
M1 AUDUSD - target tracker! getting stuck in sideways action is really bad for the ema strategy as the ema's eat into the profits as time moves on - the opposite is true using the keltner channel as a guide - now when i'm stuck in sideways, i can continually make favourable target adjustments in line with the extreme edges for maximum profits! {image} {image} {image} {image}
hi niks ok your settings look really good... you mentioned using m5 on a m1 chart... could you pl share what you've got yr keltners set to?
We don't see things as they are - we see things as we are.
  • #10,026
  • Nov 2, 2023 6:22am Nov 2, 2023 6:22am
Quoting sonicvista12
{quote} hi niks ok your settings look really good... you mentioned using m5 on a m1 chart... could you pl share what you've got yr keltners set to?
hey sonicvista, the earlier audusd snapshot was on the M1 chart with the M5 setting on the keltner channel:
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the snapshot you have just quoted was on the M1 chart and set to current timeframe as below:
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every minute matters!
  • #10,027
  • Nov 2, 2023 6:33am Nov 2, 2023 6:33am
Quoting niks
{quote} hey sonicvista, the earlier audusd snapshot was on the M1 chart with the M5 setting on the keltner channel: {image} the snapshot you have just quoted was on the M1 chart and set to current timeframe as below: {image}
ah niks thats the one, now it makes perfect sense, many thanks. I typically over-complicated my settings, but these settings give the trades room to breathe. Cheers
We don't see things as they are - we see things as we are.
  • #10,028
  • Nov 2, 2023 6:04pm Nov 2, 2023 6:04pm
Quoting sonicvista12
{quote} ah niks thats the one, now it makes perfect sense, many thanks. I typically over-complicated my settings, but these settings give the trades room to breathe. Cheers
anytime sonicvista, it's my pleasure, fine tuning for different markets and market conditions is half the fun!
every minute matters!
  • #10,029
  • Nov 2, 2023 7:19pm Nov 2, 2023 7:19pm
M1 AUDUSD - trade with confidence!

the keltner channel allows me to follow a trend and more importantly set a target for it, strengthening two of my major weaknesses when using ema's alone...
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now i just gotta stack on those orders for these trades!!!
every minute matters!
  • #10,030
  • Nov 2, 2023 7:58pm Nov 2, 2023 7:58pm
M1 AUDUSD - enhance your strengths!

i also find it very effective for countertrend...
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the grey line on these snapshots is ema9...

the ema strategy is only useful for mean reversion and extremely difficult for mean expansion, you get the best of both worlds with the keltner channel!
every minute matters!
  • #10,031
  • Nov 2, 2023 10:56pm Nov 2, 2023 10:56pm
M1 BTCUSD - large spreads don't matter!

it is often wisely recommended to use the lowest spread pairs for the ema strategy...

a keltner channel uses range calculations making it much more reliable to use with high spread and highly volatile pairs allowing me to focus on instantaneous decision making...

the green line is ema200...
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the midline was a good time to take profits, but i place my trust in the keltner channel to deliver my profits and keep targets firm and place two more orders...
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the sideways action allows the top channel to remain flat then slowly crawl up towards targets keeping them valid!
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the bottom is getting higher and the top is remaining flat, only one word for that, squeeze!
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and almost squeezed into my targets which were lifted higher to track the channel, this would typically be followed by a strong move back down, and the two bearish bars here had me on guard, but the squeeze hasn't really fully played out so will wait to see if it reaches ema200 or add more orders if it continues lower...
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but no need as the revised targets are reached!
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it's a bit like being blue balled actually!!!
every minute matters!
  • #10,032
  • Nov 3, 2023 12:30am Nov 3, 2023 12:30am
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I haven't come this far to only come this far !
  • #10,033
  • Nov 3, 2023 12:38am Nov 3, 2023 12:38am
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I haven't come this far to only come this far !
  • #10,034
  • Nov 3, 2023 12:48am Nov 3, 2023 12:48am
M1 EURUSD

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every minute matters!
  • #10,035
  • Nov 3, 2023 1:15am Nov 3, 2023 1:15am
M1 BTCUSD
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every minute matters!
  • #10,036
  • Nov 3, 2023 5:53am Nov 3, 2023 5:53am
M1 XAGUSD

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every minute matters!
  • #10,037
  • Nov 3, 2023 6:29am Nov 3, 2023 6:29am
M1 XAUUSD
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every minute matters!
  • #10,038
  • Edited 7:49am Nov 3, 2023 7:37am | Edited 7:49am
Quoting niks
M1 XAGUSD {image} {image} {image} {image} {image}
hi nik

how do you manage when you are in trade and news goes against your trade? some times its more than 100 pips
  • #10,039
  • Nov 3, 2023 5:38pm Nov 3, 2023 5:38pm
Quoting korosh1350
{quote} hi nik how do you manage when you are in trade and news goes against your trade? some times its more than 100 pips
hi korosh, i'd manage it the same way as being stuck in any other tough trend but each situation is unique and must be handled accordingly - there are many factors that come into play not least of which is my experience level - in the beginning they were not handled very well at all but i've since learned to plan for them and they are mostly avoided or handled according to the plan when not, there are many examples throughout the thread from the beginning up until recently of how i manage a drawdown whether it be news driven or any other event, it has developed and will continue to do so...
every minute matters!
  • #10,040
  • Nov 3, 2023 6:16pm Nov 3, 2023 6:16pm
M1 BTCUSD - well conformed channels for quick results!
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last second target tracker adjustment!
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every minute matters!
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