M1 XAUUSD
every minute matters!
M1 Countertrend Scalping Strategy
- #10,962
- Feb 21, 2024 12:12am Feb 21, 2024 12:12am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 XAUUSD
every minute matters!
- #10,967
- Feb 21, 2024 7:31pm Feb 21, 2024 7:31pm
- Joined Dec 2022 | Status: Trader | 3,228 Posts
every minute matters!
- #10,968
- Feb 22, 2024 1:40am Feb 22, 2024 1:40am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 EURUSD - if it looks like it's going up, then it's going up! - al brooks...
every minute matters!
- #10,969
- Feb 22, 2024 2:13am Feb 22, 2024 2:13am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 EURUSD - and up it goes!
every minute matters!
- #10,970
- Feb 22, 2024 2:16am Feb 22, 2024 2:16am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 EURUSD - now that's what i call POSITIVE SLIPPAGE!!!
every minute matters!
- #10,971
- Feb 22, 2024 7:20am Feb 22, 2024 7:20am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 AUDUSD - if it looks like it's going down...
then it's going down!
second order target was tracked using edge of lower outer channel anticipating another breach as price is repeatedly rejected off ema9...
then it's going down!
second order target was tracked using edge of lower outer channel anticipating another breach as price is repeatedly rejected off ema9...
every minute matters!
- #10,972
- Feb 22, 2024 7:32am Feb 22, 2024 7:32am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 XAUUSD - a tough lesson dealing with a tough trend!
the first range develops as price returns to ema200 but it is short lived as it breaks out of resistance and continues up...
an uptrend starts but it is short lived as price quickly returns to ema200, this is the tricky part!
is it going to start ranging again OR will ema200 act as major support in an emerging uptrend?
it looks like it will range but the break below ema200 is very shallow and may actually start providing support...
at this point, DON'T start countertrending as i did!!! or cut losses very quickly, but i am stubborn and decide to manage it instead...
waiting for price to top out i enter three more orders but ema200 continues to act as support, i need it to break below to reach targets and must wait with patience...
eventually it breaks below and i ask again, will it range around it or bounce and continue the uptrend or start a new downtrend immediately as ema9 then ema20 crosses below ema200?!
EDIT: the answer was it continued the uptrend...
KoF would of most likely closed the top three orders and refilled them several times before targets were eventually reached...
and if they weren't reached, the first two orders could of closed at a loss and still ended the sequence in profit...
which is EXACTLY what i should of done here and failed to do so!!! THIS IS THE REASON KoF FLIPS ORDERS AND CLOSES EARLY SOMETIMES - after years of experience, i guess he realises it is better to flip and close early rather than let this happen...
so now i am left to clean up the mess i made which is never fun and incurs a heavy cost in time...
mess all cleaned up!!!
it didn't play out as i initially anticipated, but it did play out as expected, in profit, eventually!
the first range develops as price returns to ema200 but it is short lived as it breaks out of resistance and continues up...
an uptrend starts but it is short lived as price quickly returns to ema200, this is the tricky part!
is it going to start ranging again OR will ema200 act as major support in an emerging uptrend?
it looks like it will range but the break below ema200 is very shallow and may actually start providing support...
at this point, DON'T start countertrending as i did!!! or cut losses very quickly, but i am stubborn and decide to manage it instead...
waiting for price to top out i enter three more orders but ema200 continues to act as support, i need it to break below to reach targets and must wait with patience...
eventually it breaks below and i ask again, will it range around it or bounce and continue the uptrend or start a new downtrend immediately as ema9 then ema20 crosses below ema200?!
EDIT: the answer was it continued the uptrend...
KoF would of most likely closed the top three orders and refilled them several times before targets were eventually reached...
and if they weren't reached, the first two orders could of closed at a loss and still ended the sequence in profit...
which is EXACTLY what i should of done here and failed to do so!!! THIS IS THE REASON KoF FLIPS ORDERS AND CLOSES EARLY SOMETIMES - after years of experience, i guess he realises it is better to flip and close early rather than let this happen...
so now i am left to clean up the mess i made which is never fun and incurs a heavy cost in time...
mess all cleaned up!!!
it didn't play out as i initially anticipated, but it did play out as expected, in profit, eventually!
every minute matters!
- #10,973
- Feb 22, 2024 8:09am Feb 22, 2024 8:09am
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 AUDUSD - and down it goes!
every minute matters!
- #10,975
- Feb 22, 2024 12:36pm Feb 22, 2024 12:36pm
M1 XAUUSD - a tough lesson dealing with a tough trend! the first range develops as price returns to ema200 but it is short lived as it breaks out of resistance and continues up... an uptrend starts but it is short lived as price quickly returns to ema200, this is the tricky part! is it going to start ranging again OR will ema200 act as major support in an emerging uptrend? it looks like it will range but the break below ema200 is very shallow and may actually start providing support... at this point, DON'T start countertrending as i did!!! or cut...
could you not have closed out some winning trades early to mitigate risk? In case the market wanted to push hard against you? or were you expecting an upcoming reversal?
- #10,976
- Feb 22, 2024 2:49pm Feb 22, 2024 2:49pm
Seems like a big day all round! I dont have much time tonight for an update so will get a better look over the recent posts tomorrow.
Good gains early on in the day and a small profit from the big downtrend, given the late hour I just wanted out for the night.
Good gains early on in the day and a small profit from the big downtrend, given the late hour I just wanted out for the night.
- #10,979
- Feb 22, 2024 8:05pm Feb 22, 2024 8:05pm
- Joined Dec 2022 | Status: Trader | 3,228 Posts
{quote} Nicely done in the end! could you not have closed out some winning trades early to mitigate risk? In case the market wanted to push hard against you? or were you expecting an upcoming reversal? {image}
i typically like to wait for my targets, it is not always the right choice... KoF's style of flipping and closing early is superior...
reversals are always expected at some point, and because they were short positions that attract positive swaps, i was prepared to manage them...
the first point of mitigation was to stop adding orders and a readjustment of all targets, and that's all that was required in this instance...
your trades are looking good and will keep getting better with more experience!
Seems like a big day all round! I dont have much time tonight for an update so will get a better look over the recent posts tomorrow. {image} {image} {image} Good gains early on in the day and a small profit from the big downtrend, given the late hour I just wanted out for the night.
price breaks support below ema200 AND volume breaks and holds above ema20 AND ema's 9, 20 and 50 are crossing ema200!
the result? a downtrend, albeit a choppy one!
every minute matters!
- #10,980
- Feb 22, 2024 11:33pm Feb 22, 2024 11:33pm
- Joined Dec 2022 | Status: Trader | 3,228 Posts
M1 EURUSD - catching the emerging downtrend!
every minute matters!