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M1 Countertrend Scalping Strategy

  • #10,241
  • Nov 28, 2023 8:53pm Nov 28, 2023 8:53pm
Quoting CM-PunkFX
I remember a lot of you were curious about Chhico’s strategy, but I can confirm it’s not as special as some of you guys thought. And his set up was just copied from a YouTuber. I know because I saw the set up and strategy long before Chhico posted it on here. But the important part is it’s no miracle strategy. It involves the envelope indicator and force index indicator on mt5 and mt4 basically momentum indicators. But the set up is not that much different to using an RSI for oversold and overbought entries. After going thru about 500 pages on this...
Thanks for passing that along. He stopped posting a while back. When someone’s been posting regularly and stops suddenly, I assume they had a bad experience and stepped back from trading for a bit. It’s happened to me. After I was posting a few months back, I took a big loss (not a blown account, just an attention-getting loss) that made me step back for a minute and reevaluate. I went back to demo, then traded a small amount live, then back to demo as I try to iron out the kinks.

Since Chico didn’t post anymore, I wondered if his method hit a speed bump. I wish him the best though.
  • #10,242
  • Nov 28, 2023 8:56pm Nov 28, 2023 8:56pm
Quoting niks
M1 AUDUSD {image} {image} {quote} thanks, i use a bit less than the recommended lot size...
I wondered if you’d thought of increasing the position size as you’ve gotten more consistent and have learned to manage the trends better. Take it with a grain of salt from me though since I’m not consistently profitable…yet.
  • #10,243
  • Nov 28, 2023 9:44pm Nov 28, 2023 9:44pm
Quoting SurMoose
{quote} Thanks for passing that along. He stopped posting a while back. When someone’s been posting regularly and stops suddenly, I assume they had a bad experience and stepped back from trading for a bit. It’s happened to me. After I was posting a few months back, I took a big loss (not a blown account, just an attention-getting loss) that made me step back for a minute and reevaluate. I went back to demo, then traded a small amount live, then back to demo as I try to iron out the kinks. Since Chico didn’t post anymore, I wondered if his method...
i just wanted to clear it up for you guys… I mean it’s not a bad strategy and you do get winning trades for sure. But then again if you were to take entries on an RSi 70/30 levels you probably will still get winning trades but at the same time a lot of losing ones too. I’ve only found this thread about a week ago and I’m only catches up to page 200 at the moment so I skipped a large portion. But has anyone managed to find a way to avoid strong trends?
  • #10,244
  • Nov 28, 2023 9:50pm Nov 28, 2023 9:50pm
most definitely, i plan to start doing that early next year, but currently, like yourself, i am still ironing out some kinks!

the other significant limitation i face is 1:30 leverage which means that increasing lot size is tightly coupled with increasing capital to sustain margin requirements... keep at it surmoose, you will find a way, don't quit and best of luck to you!
every minute matters!
  • #10,245
  • Nov 28, 2023 10:05pm Nov 28, 2023 10:05pm
Quoting CM-PunkFX
{quote} i just wanted to clear it up for you guys… I mean it’s not a bad strategy and you do get winning trades for sure. But then again if you were to take entries on an RSi 70/30 levels you probably will still get winning trades but at the same time a lot of losing ones too. I’ve only found this thread about a week ago and I’m only catches up to page 200 at the moment so I skipped a large portion. But has anyone managed to find a way to avoid strong trends?
do you recall the youtube channel you claim chhico was basing his strategy on?

here is one idea to avoid tough trends, there are others if you search "tough trend" in this thread
https://www.forexfactory.com/thread/...9#post14296049
every minute matters!
  • #10,246
  • Nov 28, 2023 11:14pm Nov 28, 2023 11:14pm
M1 AUDUSD
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every minute matters!
  • #10,247
  • Nov 28, 2023 11:47pm Nov 28, 2023 11:47pm
M1 XAUUSD
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every minute matters!
  • #10,248
  • Nov 29, 2023 7:36am Nov 29, 2023 7:36am
M1 XAUUSD
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every minute matters!
  • #10,249
  • Nov 29, 2023 7:45am Nov 29, 2023 7:45am
Quoting niks
{quote} do you recall the youtube channel you claim chhico was basing his strategy on? here is one idea to avoid tough trends, there are others if you search "tough trend" in this thread https://www.forexfactory.com/thread/...9#post14296049
Hi Niks,

I can’t remember which YouTuber exactly it was because there’s lots of these forex gurus and if you look on YouTube most of the strategies are a similar process. They involve using rsi and other momentum indicators. The first time I saw the set up was 2-3 years ago.. you will get winners for sure but at the same time losers. It is definately not a 100% winrate strategy. Well actually it can be if you were lucky and took all the winning trades, that would be like you being lucky and never getting caught on a tough trend when trading the return to the ema’s strategy.
  • #10,250
  • Nov 29, 2023 6:48pm Nov 29, 2023 6:48pm
hi cm-punkfx, thanks for your reply - chhico started his posts demonstrating KoF's ema strategy and did an excellent job of it in my opinion, maybe he just adapted these indicators to enhance that strategy - win rate is all about money management, not the strategy...
every minute matters!
  • #10,251
  • Nov 29, 2023 8:27pm Nov 29, 2023 8:27pm
M1 BTCUSD
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every minute matters!
  • #10,252
  • Nov 29, 2023 8:48pm Nov 29, 2023 8:48pm
M1 EURUSD
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every minute matters!
  • #10,253
  • Nov 29, 2023 9:20pm Nov 29, 2023 9:20pm
M1 GBPUSD
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every minute matters!
  • #10,254
  • Nov 29, 2023 10:26pm Nov 29, 2023 10:26pm
M1 XAUUSD - horse sense scalping!
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every minute matters!
  • #10,255
  • Nov 30, 2023 1:12am Nov 30, 2023 1:12am
M1 XAUUSD
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every minute matters!
  • #10,256
  • Nov 30, 2023 2:08am Nov 30, 2023 2:08am
M1 GBPUSD
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every minute matters!
  • #10,257
  • Nov 30, 2023 7:08am Nov 30, 2023 7:08am
M1 XAUUSD - a tough nut to crack!
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every minute matters!
  • #10,258
  • Nov 30, 2023 7:35am Nov 30, 2023 7:35am
M1 GBPUSD
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every minute matters!
  • #10,259
  • Nov 30, 2023 11:32am Nov 30, 2023 11:32am
Quoting niks
hi cm-punkfx, thanks for your reply - chhico started his posts demonstrating KoF's ema strategy and did an excellent job of it in my opinion, maybe he just adapted these indicators to enhance that strategy - win rate is all about money management, not the strategy...
oh absolutely…. Not doubting his trading. I’m just saying the indicators he used and the setup was no miracle indicator. It wasn’t that special as it’s out there in the open. Upon going back to the thread Nik… you were one of the ones chosen by him when he did his FTMO challenge.. so you must already know his strategy anyway.
  • #10,260
  • Nov 30, 2023 6:10pm Nov 30, 2023 6:10pm
you may have missed this post, the offer never eventuated
https://www.forexfactory.com/thread/...5#post14552195
every minute matters!
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