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M1 Countertrend Scalping Strategy

  • #10,681
  • Jan 18, 2024 7:25am Jan 18, 2024 7:25am
M1 XAUUSD
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every minute matters!
  • #10,682
  • Jan 18, 2024 7:44pm Jan 18, 2024 7:44pm
M1 EURUSD
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every minute matters!
  • #10,683
  • Jan 19, 2024 5:57am Jan 19, 2024 5:57am
Hello guys
I am also starting to be profitable with this strategy! I am taking smaller profits and learning along the way.

@nicks are you looking at a higher time frame when taking trades? I am trying not to go against a trend
  • #10,684
  • Jan 19, 2024 7:03am Jan 19, 2024 7:03am
M1 XAUUSD
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Quoting skerla
Hello guys I am also starting to be profitable with this strategy! I am taking smaller profits and learning along the way. @nicks are you looking at a higher time frame when taking trades? I am trying not to go against a trend
hello skerla, congratulations for your profits!

no, i only use M1 timeframe for all analyses, i may glance higher timeframes every so often but they don't play any part in my trading decisions... best of luck to you!
every minute matters!
  • #10,685
  • Jan 19, 2024 7:12am Jan 19, 2024 7:12am
M1 XAUUSD
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every minute matters!
  • #10,686
  • Jan 19, 2024 7:19am Jan 19, 2024 7:19am
M1 EURUSD
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every minute matters!
  • #10,687
  • Jan 22, 2024 12:03am Jan 22, 2024 12:03am
M1 EURUSD
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every minute matters!
  • #10,688
  • Jan 22, 2024 12:25am Jan 22, 2024 12:25am
M1 XAGUSD
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every minute matters!
  • #10,689
  • Jan 22, 2024 5:31am Jan 22, 2024 5:31am
M1 AUDUSD
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every minute matters!
  • #10,690
  • Jan 22, 2024 5:51am Jan 22, 2024 5:51am
M1 AUDUSD
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every minute matters!
  • #10,691
  • Jan 22, 2024 7:22am Jan 22, 2024 7:22am
M1 AUDUSD
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every minute matters!
  • #10,692
  • Jan 22, 2024 7:31am Jan 22, 2024 7:31am
M1 AUDUSD
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every minute matters!
  • #10,693
  • Jan 22, 2024 7:50am Jan 22, 2024 7:50am
M1 XAGUSD
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every minute matters!
  • #10,694
  • Jan 22, 2024 8:07am Jan 22, 2024 8:07am
M1 AUDUSD
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every minute matters!
  • #10,695
  • Jan 22, 2024 9:23am Jan 22, 2024 9:23am
M1 XAUUSD
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every minute matters!
  • #10,696
  • Jan 22, 2024 1:18pm Jan 22, 2024 1:18pm
Quoting Abade
Mechanical Systems Update #1 I have scanned 29 forex pairs using PointO Renko Charts and a very simplistic countertrend system with a limited form of cost averaging and a max of 10 trades. Here are the final results of this research: 1) Pairs that benefit the most of PointO renko charts and countertrend logic: #1 AUDCAD. #2 USDCAD. #3 EURCAD. #4 EURGBP. #5 NZDCAD. #6 AUDUSD. #7 EURUSD. 2) Worst pairs to trade using PointO renko charts and countertrend logic: #1 XAUUSD. #2 XAGUSD....

This is serious result man wow, did you code this by yourself, and do you plan to release this ?
  • #10,697
  • Jan 22, 2024 7:06pm Jan 22, 2024 7:06pm
a couple of points captured my attention over the weekend while listening to this al brooks interview posted by surmoose a few weeks ago i thought were worth sharing...

the first point relates to his thoughts on trading the M1 timeframe...

"so the shorter the time frame the more profit potential you have and and for everyone there's a sweet spot..."

"and the better you are the shorter the time frame that you can trade the more money you're going to make if you're trading well the short of the time frame the more money you're going to make and and everybody has a sweet spot you know for me I like the five minute chart you know I feel very comfortable with the five minute chart but if I put up a 15 second chart um I'm probably not going to make money and plus I'm not going to have fun so it's a balance you know..."

"if you get good at it you're going to make money you know you'll make more if you're really good at trading a one minute chart and taking 100 trades a day but you know nobody you know nobody's going to do that you know computers might do it but people are not going to do that..."


and the second point aligns with my trading philosophy and the difficulty of attaining consistent profitability...

"you know I cannot I cannot make you or anyone understand just how unhappy and how stressed out I was..."

"for the fullest 10 years when I was losing I was incredibly miserable you know I can't tell you how stressed out I was and how frustrated I was and how angry I was at myself and you know I you know I was so confused it was just a miserable existence especially those first few years..."

trading is not as easy as it looks!
every minute matters!
  • #10,698
  • Jan 22, 2024 7:51pm Jan 22, 2024 7:51pm
M1 AUDUSD
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every minute matters!
  • #10,699
  • Jan 22, 2024 8:43pm Jan 22, 2024 8:43pm
M1 XAUUSD
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every minute matters!
  • #10,700
  • Jan 23, 2024 1:47am Jan 23, 2024 1:47am
M1 GBPUSD
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every minute matters!
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