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M1 Countertrend Scalping Strategy

  • #10,861
  • Feb 9, 2024 6:04am Feb 9, 2024 6:04am
M1 XAUUSD
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every minute matters!
  • #10,862
  • Feb 9, 2024 6:24am Feb 9, 2024 6:24am
M1 XAUUSD
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every minute matters!
  • #10,863
  • Feb 9, 2024 6:25am Feb 9, 2024 6:25am
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I haven't come this far to only come this far !
  • #10,864
  • Feb 9, 2024 7:42pm Feb 9, 2024 7:42pm
M1 BTCUSD
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every minute matters!
  • #10,865
  • Feb 10, 2024 3:44pm Feb 10, 2024 3:44pm
saturday BTCUSD
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every minute matters!
  • #10,866
  • Feb 10, 2024 4:40pm Feb 10, 2024 4:40pm
M1 BTCUSD
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every minute matters!
  • #10,867
  • Feb 10, 2024 7:02pm Feb 10, 2024 7:02pm
M1 BTCUSD
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"... and what I soon discovered is those who know don't talk and those who talk don't know..." - al brooks
every minute matters!
  • #10,868
  • Feb 10, 2024 11:18pm Feb 10, 2024 11:18pm
M1 BTCUSD - profiting from the combined order flow of trapped shorts and new longs!

only managed to enter a single order on the first double bottom trap and it just missed the target, but then a second and better opportunity was offered as resistance held and price moved back down to support...

this second move down was likely to be a bigger trap due to resistance holding via a soft rejection in a strong uptrend, and support was tested and rejected again, so a lot more orders were entered anticipating at least a return back to resistance but most likely a break - targets were set accordingly...
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and then they were hit!
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every minute matters!
  • #10,869
  • Feb 11, 2024 3:41am Feb 11, 2024 3:41am
M1 BTCUSD
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every minute matters!
  • #10,870
  • Feb 11, 2024 4:14am Feb 11, 2024 4:14am
M1 BTCUSD
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another million points!!!
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every minute matters!
  • #10,871
  • Feb 11, 2024 4:21am Feb 11, 2024 4:21am
Practicing on a Demo builds bad habits................... especially realizing the Live Account Balance will NOT be the same.
  • #10,872
  • Feb 11, 2024 4:41am Feb 11, 2024 4:41am
M1 BTCUSD - practice makes perfect!

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every minute matters!
  • #10,873
  • Feb 11, 2024 5:11am Feb 11, 2024 5:11am
Does Practicing include;
Fear
Greed
Real Money
Emotions
No sir....
Why Not - its practicing....
  • #10,874
  • Feb 11, 2024 5:46am Feb 11, 2024 5:46am
an excellent trading resource that is no longer online but still available on archive has some useful articles on deliberate practice for anyone interested in becoming a better trader!

https://web.archive.org/web/20230601...rate-practice/
every minute matters!
  • #10,875
  • Feb 11, 2024 9:19am Feb 11, 2024 9:19am
Quoting cpfleger
Does Practicing include; Fear Greed Real Money Emotions No sir.... Why Not - its practicing....
Alongside trading live during the day I practice at nights replaying the days action. Focusing on improving entries, trying to avoid the beginnings of a trend and dealing with one once caught up in the action. Id say practice has its place but for me screen grabs from demo accounts carry less weight than from a live account.

A question to anyone who started off with a $500 account. What was your average % gain in a day? I am averaging 0.32% which although its gain its not exactly going to flip the account anytime soon.

One issue is being confined to 0.01 lot size and only being able to open 6-10 orders. I cant let a downtrend become top heavy nor an uptrend become bottom heavy so all trends are 0.01 trends. If I'm 5+ orders deep the goal is to BE to get the orders back. I spent Thursday and Friday holding out for the 50 to not much benefit.

As I see it the only way the gains will increase is to throw in another $500 into the account for some more breathing room, chance loading up the tail end of a trend. The trends that end in consolidation before price shoots back towards the 200, my thoughts are to load that up with ALL the orders and set a tight SL for those. If price returns towards the 200 then its $$$, if it decides to continue trending then its a relatively small loss and it frees up orders to continue hedging.

Hope everyone had a good weekend.
  • #10,876
  • Feb 11, 2024 9:57am Feb 11, 2024 9:57am
PR31D

According to KoF Strategy Video's and Paid Course, cost averaging is optional to the learning process of trend and countertrend trading. Adding more money to a Balance is not the right solution because you are not gaining the trading experience and knowledge. Countertrend trading is a higher risk than trend trading as taught by KoF.

A 0.01 Lot Size is adequate to learn and over a time period of 2 to 3 months, a live account should be adequate to go from 1 to 5 positions to 2 to 10 positions as this is a Trading Business and not a dream using Demo Accounts. As I stated over 543 pages ago, this is a very risky strategy BUT can be managed if the Trader commits his / her time to it and manages it like a Business.

Loading up a tight SL is again the wrong answer and as stated by KoF training, your risk needs to be managed from the first trade onwards, nothing says its mandatory to add a position until your experienced and aware of the risks associated with cost averaging, especially in a real Live Account which most people do NOT have enough money to trade this strategy, too risky. One trade, learn to earn, then next week two positions, etc., why rush the risk.
  • #10,877
  • Feb 11, 2024 11:02am Feb 11, 2024 11:02am
Quoting cpfleger
PR31D According to KoF Strategy Video's and Paid Course, cost averaging is optional to the learning process of trend and countertrend trading. Adding more money to a Balance is not the right solution because you are not gaining the trading experience and knowledge. Countertrend trading is a higher risk than trend trading as taught by KoF. A 0.01 Lot Size is adequate to learn and over a time period of 2 to 3 months, a live account should be adequate to go from 1 to 5 positions to 2 to 10 positions as this is a Trading Business and not a dream using...
Adding capital to my account gives me more room to breathe. I dont intend to stray from 0.01 lot sizes however I want to be able to dig myself out a hole if I land in one and also weight up the bottom of a trend to increase gain and get the orders into the green sooner.

To clarify the SL isnt for every entry. I've attached an image which should better detail my thinking. Much in the way some trend traders load up a trend with orders, I am aiming to load up any consolidation with orders.
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Here's a decent trend from last week with my thinking. I'd have suffered a few small SL losses but overall the third pop would of had me in the green early. This is what im talking about.
  • #10,878
  • Feb 11, 2024 4:26pm Feb 11, 2024 4:26pm
M1 BTCUSD - wrapping up the weekend!
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every minute matters!
  • #10,879
  • Feb 11, 2024 5:07pm Feb 11, 2024 5:07pm
M1 XAUUSD - that was FAST!
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every minute matters!
  • #10,880
  • Feb 11, 2024 10:08pm Feb 11, 2024 10:08pm
Quote
Scalping requires three steps only:

1. Identify the bias (flow, path of least resistance, future trend or whatever you want to call it).
2. Take a wholesale entry in the direction of that bias.
3. Then manage whatever happens.

It's never as easy as it looks after the fact.

Expect consistent losses at first.

Implement a process of deliberate practice.

Trade-Record-Review-Improve!

Build experience through trading (in the sim at first) over and over and over again. In time, your ability to read bias will improve. Your ability to identify better entry locations will improve. Your ability to contain risk will improve. And your results will improve.

Scalping such as this is not a Holy Grail trading method. And the rapid decision making required in these timeframes does not suit everyone. But if you find yourself attracted to short timeframe action, give it a try on a sim. Maybe it won't be to your liking? Or maybe… like me… you'll have found the place in the markets that feels like home!

-- Lance Beggs


cost averaging should only be used to manage risk until the basic ema strategy is not only learnt, but mastered, only then can it be used to maximise profits and follow trends with aggressive entries...

this level of experience cannot be achieved within just two months, and that's trading full time, it will take a LOT longer if learning this strategy part time...

you won't be able to dig yourself out of a hole until you've experienced it, learnt lessons from it, and have developed a plan for it, all that takes much time and practice..

i would not recommend risking real money to learn those lessons, prove that you have the skills to dig yourself out of a hole first, then try it with real money...

a high risk strategy simply means the less experienced suffer the greatest losses, therefore, it's logical to conclude that gaining as much experience as possible is essential for success!

something to think about before throwing more money into your account...

this is based on my experience only so far, yours may be different...
every minute matters!
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