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M1 Countertrend Scalping Strategy

  • #10,881
  • Feb 12, 2024 12:36am Feb 12, 2024 12:36am
M1 XAUUSD
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every minute matters!
  • #10,882
  • Feb 12, 2024 1:46am Feb 12, 2024 1:46am
M1 XAUUSD
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every minute matters!
  • #10,883
  • Feb 12, 2024 2:35am Feb 12, 2024 2:35am
Hi, is there a history of this strategy?
  • #10,884
  • Feb 12, 2024 2:58am Feb 12, 2024 2:58am
Quoting niks
{quote} -- 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...
Good advice, thanks.

0.01 lot sizing is keeping me between the best parts of demo and live trading. I'll say again that I'm not adding capital to increase the amount I risk, its to allow some breathing room. What was the minimum account size recommended for this strat again?
  • #10,885
  • Feb 12, 2024 3:18am Feb 12, 2024 3:18am
Quoting PR31D
{quote} Good advice, thanks. 0.01 lot sizing is keeping me between the best parts of demo and live trading. I'll say again that I'm not adding capital to increase the amount I risk, its to allow some breathing room. What was the minimum account size recommended for this strat again?
you're welcome! the recommended lot size is 0.01 for every 1k, so 1k would be the recommended minimum account size...

however, there are many factors that will determine whether that ratio is suitable for your circumstances, mainly leverage and margin requirements as well as experience level so it should be customised accordingly...
every minute matters!
  • #10,886
  • Feb 12, 2024 7:25am Feb 12, 2024 7:25am
M1 XAGUSD - fast profits!
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every minute matters!
  • #10,887
  • Feb 12, 2024 7:36am Feb 12, 2024 7:36am
M1 XAGUSD - more fast profits!
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every minute matters!
  • #10,888
  • Feb 12, 2024 7:55am Feb 12, 2024 7:55am
M1 XAGUSD - following it down as the faster ema's cross ema200 one by one!
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every minute matters!
  • #10,889
  • Feb 12, 2024 8:19am Feb 12, 2024 8:19am
M1 XAGUSD - still following!
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every minute matters!
  • #10,890
  • Feb 12, 2024 8:28am Feb 12, 2024 8:28am
M1 XAGUSD - offering some more!
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every minute matters!
  • #10,891
  • Feb 12, 2024 2:30pm Feb 12, 2024 2:30pm
Another solid day, 0.17% gain. I feel I entered the big EURUSD downtrend a bit too early but it worked out regardless. I'm glad I didnt get into the AUDUSD up trend towards the end of the session.

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  • #10,892
  • Feb 12, 2024 8:18pm Feb 12, 2024 8:18pm
M1 XAUUSD - rollercoaster!
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every minute matters!
  • #10,893
  • Feb 13, 2024 7:58am Feb 13, 2024 7:58am
I found myself caught in the uptrend ever nearing the news event. I had hoped for a 200 touch on the dotted line to exit before the event however it didnt happen and into the storm I sailed. I'm not particular pleased with my course of action, I feel I should of tried to weight up the top end to allow me to get out BE earlier, another order where the white arrow is would of let me exit nicely.
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I'm going to lay down somewhere quiet for a while. No more trading today.

What would of been the better course of action? I toyed with the idea of eating the loss and closing the positions however the price dip at 11:30 gave me some hope of reaching the 200. I then recalled seeing these


Quoting Amiraven
{image}
and
Quoting cpfleger
{image}


Page 1 says avoid news but it seems some embrace it.
  • #10,894
  • Feb 13, 2024 7:12pm Feb 13, 2024 7:12pm
M1 XAUUSD
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every minute matters!
  • #10,895
  • Feb 13, 2024 7:29pm Feb 13, 2024 7:29pm
Hi All,

any advice is appreciated on my yesterday's trades.
I started to cost average the last trade, but it hit the news release and went downhill from there (or uphill in this case).
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  • #10,896
  • Feb 13, 2024 7:34pm Feb 13, 2024 7:34pm
Quoting PR31D
Page 1 says avoid news but it seems some embrace it.
it's difficult for me to read the entries and exits on your charts so i can't comment on your trades...

the news should not be traded while starting out with the strategy, and i recommend you should only learn by practicing to trade the news only on a demo account with micro lots...

once you have mastered the FULL ema strategy, then you will feel more comfortable trading during news events, doing so however makes this already very HIGH risk strategy an even HIGHER risk, keep that in mind along with your experience level before venturing off into trading the news...

i would trust and i personally followed Abade's advice over any other in this thread when i started out regarding managing risk by not trading news events, not trading while distracted, not trading when price is stuck on the ema's and the countless other valuable tips he has provided...

this is M1 trading, there are countless opportunities, and overtrading is the biggest killer!
every minute matters!
  • #10,897
  • Feb 13, 2024 7:43pm Feb 13, 2024 7:43pm
Quoting Amah
Hi All, any advice is appreciated on my yesterday's trades. I started to cost average the last trade, but it hit the news release and went downhill from there (or uphill in this case). {image} {image} {image}
hi amah, you should trade very lightly around the news, you have too many orders close together, if you keep large gaps then you can wait longer and would of made much profit...

or, you could of taken a loss on the break above ema200 and re-assessed your position...

when you are stuck in a tough trend, you should ALWAYS, ALWAYS, wait for a return to ema200 before making your next decision, you closed your trades on a touch of ema9, that was too early, next time, wait for it to break below ema20, then ema50 to reach ema200 and take it from there... best of luck to you!
every minute matters!
  • #10,898
  • Feb 13, 2024 8:45pm Feb 13, 2024 8:45pm
Quoting Amah
Hi All, any advice is appreciated on my yesterday's trades. I started to cost average the last trade, but it hit the news release and went downhill from there (or uphill in this case). {image} {image} {image}
@Amah:

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The main reason why I don't recommend trading the news directly is because a lot of things can go wrong:

- Flash crash against your positions.
- Huge slippage.
- Runaway trends.
- News events introduce "outliers" and high volatility, which affects the mean reversion phenomenon we are trying to exploit. Sometimes you will get a nice fast "V" shaped move, and other times you will get an account killer move.

Also, try to give more space between your orders.

Hope that helps!
  • #10,899
  • Feb 14, 2024 1:07am Feb 14, 2024 1:07am
M1 XAUUSD
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every minute matters!
  • #10,900
  • Feb 14, 2024 1:18am Feb 14, 2024 1:18am
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