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M1 Countertrend Scalping Strategy

  • #10,481
  • Dec 26, 2023 6:58am Dec 26, 2023 6:58am
Quoting niks
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... {image} 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...
this guy I'm getting alot of respect for student of the game you got a subscribe bro
  • #10,482
  • Dec 26, 2023 7:09am Dec 26, 2023 7:09am
Quick GBP/USD scalp
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Trend following
  • #10,483
  • Dec 26, 2023 7:19am Dec 26, 2023 7:19am
Quoting niks
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... {image} 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...
Yes, The problem with this system is those long tough trends.
But, how much do you risk each trade? I think putting a mental stop loss of ~7% will help (That's my idea, you can choose any other percentage). You don't need to win every trade. This might eat some your profits but at the end of the day you are sure your loss won't go more than it.
Trend following
  • #10,484
  • Dec 26, 2023 7:19am Dec 26, 2023 7:19am
Quoting Godspromise
{quote} this guy I'm getting alot of respect for student of the game you got a subscribe bro
much appreciate your kind words and support, it's always my pleasure and the respect is mutual!
Quoting mehantrader
Quick GBP/USD scalp {image}
excellent scalps!
every minute matters!
  • #10,485
  • Dec 26, 2023 7:28am Dec 26, 2023 7:28am
Quoting niks
excellent scalps!
Thank you!
I've also viewed your trades you posted in this week and I should really say well done!
Trend following
  • #10,486
  • Dec 26, 2023 6:53pm Dec 26, 2023 6:53pm
Quoting mehantrader
{quote} Thank you! I've also viewed your trades you posted in this week and I should really say well done!
no problem and thanks!

long tough trends should be considered as part of the system, not a problem with the system, and they must be dealt with accordingly to survive them...

only you can answer your questions about how much to risk each trade, and there are MANY more questions you will need to answer - using a simulator will dramatically expedite that process...

best of luck to you!
every minute matters!
  • #10,487
  • Dec 26, 2023 9:38pm Dec 26, 2023 9:38pm
the trap with demo accounts and scalping is their fluidity - at least according to my experience with ic markets - the price action and candle formation is very smooth and easier to read live, i don't know why that is, maybe because there are many more demo accounts than live accounts...

in any case, that was one of my stumbling blocks when transitioning from demo to live trading, the fluidity was missing and the candle formation and pip movement was not as smooth with a lot more gaps making it more difficult to read live...

so if you've encountered or are facing the same issue, you're not alone!
every minute matters!
  • #10,488
  • Dec 27, 2023 3:22am Dec 27, 2023 3:22am
M1 XAUUSD
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every minute matters!
  • #10,489
  • Dec 27, 2023 3:55am Dec 27, 2023 3:55am
Quoting niks
the trap with demo accounts and scalping is their fluidity - at least according to my experience with ic markets - the price action and candle formation is very smooth and easier to read live, i don't know why that is, maybe because there are many more demo accounts than live accounts... in any case, that was one of my stumbling blocks when transitioning from demo to live trading, the fluidity was missing and the candle formation and pip movement was not as smooth with a lot more gaps making it more difficult to read live... so if you've encountered...
can you please share a image about what you mean about those gaps? If this XAUUSD trade that you have posted is live, I think the candles are normal.
Also, are you facing too much slippage? Because I'm paying too much spread and if the slippage is tough in live, It is not logical to use this strategy.
I have a prop and a live account but I still haven't got the courage to use it in there.
Trend following
  • #10,490
  • Dec 27, 2023 5:07am Dec 27, 2023 5:07am
Quoting mehantrader
{quote} can you please share a image about what you mean about those gaps? If this XAUUSD trade that you have posted is live, I think the candles are normal. Also, are you facing too much slippage? Because I'm paying too much spread and if the slippage is tough in live, It is not logical to use this strategy. I have a prop and a live account but I still haven't got the courage to use it in there.
of course, i remember an old game in the newspapers called "spot the difference", this is the same!
the XAUUSD trade i posted that you have referenced was a demo trade, not live...

here is the the demo chart i traded...
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here is the equivalent live chart from the same broker with a gap not on the demo chart and also MANY different candles...
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the difference are more pronounced during low volumes...

i have no problem at all with slippage on market execution orders unless there is a major news event and i don't use stop losses, my only issue with slippage is positive when targets are hit during high volumes like news events!

a broker that offers lower spreads or a commission based low or raw spread account would be ideal...

courage to trade this strategy comes with lots of experience and practice...
every minute matters!
  • #10,491
  • Dec 27, 2023 5:25am Dec 27, 2023 5:25am
here is a better example... spot the difference!

AUDUSD demo
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AUDUSD live
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every minute matters!
  • #10,492
  • Dec 27, 2023 7:18am Dec 27, 2023 7:18am
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Just a quick update, I have started phase 2 on my prop firm challenge… was £700 up but then XAUUSD (gold) decided to trend late in the evening and I made a careless wrong entry, basically the entry was too early and it cost me as I tried to see if I could trade out of it. Bit silly of me as I clearly saw the entry was too early from the start but continued to see if I could save the loss.. which is a big mistake. You need to 5% on phase 2 but currently down 1%. Need to concentrate harder next time.
  • #10,493
  • Dec 28, 2023 2:22am Dec 28, 2023 2:22am
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I haven't come this far to only come this far !
  • #10,494
  • Dec 28, 2023 3:16am Dec 28, 2023 3:16am
[quote=CM-PunkFX;14701114]{image} Just a quick update, I have started phase 2 on my prop firm challenge… was £700 up but then XAUUSD (gold) decided to trend late in the evening and I made a careless wrong entry, basically the entry was too early and it cost me as I tried to see if I could trade out of it. Bit silly of me as I clearly saw the entry was too early from the start but continued to see if I could save the loss.. which is a big mistake. You need to 5% on phase 2 but currently down 1%. Need to concentrate harder next time

its really hard for me to think of trade without stop may be i am little slow
  • #10,495
  • Dec 28, 2023 4:35am Dec 28, 2023 4:35am
M1 XAUUSD
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every minute matters!
  • #10,496
  • Dec 28, 2023 5:17am Dec 28, 2023 5:17am
Quoting korosh1350
Quoting CM-PunkFX
{image} Just a quick update, I have started phase 2 on my prop firm challenge… was £700 up but then XAUUSD (gold) decided to trend late in the evening and I made a careless wrong entry, basically the entry was too early and it cost me as I tried to see if I could trade out of it. Bit silly of me as I clearly saw the entry was too early from the start but continued to see if I could save the loss.. which is a big mistake. You need to 5% on phase 2 but currently down 1%. Need to concentrate harder next time its really hard
...
it’s difficult but trading without a stoploss stops market makers trying to shake you out when they go fishing. Plus like the King Of Forex said he never uses a stoploss. I do cut loses when things get out of hand too much but I stay alert whenever I’m in a trade so I do it manually. I guess it all depends on your strategy and the way you trade.
  • #10,497
  • Dec 28, 2023 6:04am Dec 28, 2023 6:04am
M1 XAUUSD
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every minute matters!
  • #10,498
  • Dec 28, 2023 11:07am Dec 28, 2023 11:07am
Quoting niks
{quote} of course, i remember an old game in the newspapers called "spot the difference", this is the same! the XAUUSD trade i posted that you have referenced was a demo trade, not live... here is the the demo chart i traded... {image} here is the equivalent live chart from the same broker with a gap not on the demo chart and also MANY different candles... {image} the difference are more pronounced during low volumes... i have no problem at all with slippage on market execution orders unless there is a major news event and i don't use stop losses,...
Ah I see... It is much harder to trade in charts like this. I think this could be because of lack of volume in the December. maybe from January and with the entrance of the big players we might see better candles.
Thanks for answering my question about slippage!
Trend following
  • #10,499
  • Dec 29, 2023 12:04am Dec 29, 2023 12:04am
M1 AUDUSD - letting off some early fireworks!
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Quoting mehantrader
{quote} Ah I see... It is much harder to trade in charts like this. I think this could be because of lack of volume in the December. maybe from January and with the entrance of the big players we might see better candles. Thanks for answering my question about slippage!
yes, as subtle as the differences appear, they do have an impact on reading the price action, and the differences occur year round, especially during low volumes... slippage, like swaps and most everything else in trading can always be used to your advantage when used correctly!
every minute matters!
  • #10,500
  • Dec 29, 2023 3:35am Dec 29, 2023 3:35am
Quoting niks
the entries were really no good, i need much more work on trend trades, the exit was well timed looking back, thanks!
how to find trend?
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