M1 Countertrend Scalping Strategy

Great ...You seem to have mastered trend trading !

the trend has never been a great friend of mine - i still have no confidence and continue to use a single order chairlift approach, i have far from mastered the 1% style which is my ultimate goal, it appears to be developing very slowly for some reason, always appreciate the support, thanks amiraven!

Learning deep is always slow !

M1 XAUUSD




that is an eloquent way of looking at it, also very true!

thanks Niks. Lots of learning still in my future tho! btw Keltners are really coming in handy these days

it's my pleasure rodney - my realisation after "learning" to trade all these years is that i was mostly gambling believing that a system will do the work for me, that a risk\reward ratio will save me, in the end it just kept me spinning in circles...

something had to change, and then ultimately, everything changed, and a totally new foundation was built from which i am now a consistently profitable trader!

one rule, one pair, one timeframe, one lot size and a brave heart, there truly is no simpler way of trading than that!

the keltner channels certainly are a confidence multiplier!

M1 BTCUSD

M1 BTCUSD

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M1 BTCUSD - raiding santa's stocking!

M1 BTCUSD

M1 BTCUSD

M1 BTCUSD!

I take it you found a new MT5 indicator for tracking the individual profit/loss of each open trade to help you make money management easier when multiple trades are simultaneously in play?

no, i knocked it up myself a few months ago, and yes, that's what it does!

it is highly customised for my personal use and will not be released at this stage...

the closest thing i could find after a quick search was this:
https://www.mql5.com/en/market/produ...urce=External#

M1 BTCUSD - result!!!


plus a bucket load of positive slippage!

M1 XAGUSD

M1 EURUSD

M1 AUDUSD - tough trend, basic drawdown management!

M1 XAGUSD

M1 XAUUSD - planned drawdown management!

when a tough trend is encountered almost immediately after initial entry - i immediately execute my plan for managing a tough trend!

managing a tough trend and associated risks to yield a positive result is a challenge - the plan has developed after overcoming this challenge many times before... and without a solid money management plan, the challenge will be insurmountable...


the rsi had maxed out and was pinging, so i let the tough trend run to allow large gaps between my orders and strictly maintain that gap between each order ideally increasing it each time...


i set smaller individual targets for each open trade to close them in profit sooner, doing so reduces risk and provides refilling opportunities, obviously i need to be very patient at this stage...


there is no other choice!


i take the refill at resistance level...


and targets are reached for the refill, now waiting on other targets to hit...

and they hit!


if i don't have a plan for this situation - i will NOT trade live until i do - what wasn't covered here is if the
tough trend kept on going, a plan is required for that too!!!