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M1 Countertrend Scalping Strategy

  • #10,961
  • Feb 20, 2024 9:36pm Feb 20, 2024 9:36pm
M1 XAUUSD
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every minute matters!
  • #10,962
  • Feb 20, 2024 10:12pm Feb 20, 2024 10:12pm
M1 XAUUSD
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every minute matters!
  • #10,963
  • Feb 21, 2024 11:35am Feb 21, 2024 11:35am
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old faithful, GU

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GC
  • #10,964
  • Feb 21, 2024 12:17pm Feb 21, 2024 12:17pm
Quoting rodney204
{image} old faithful, GU
Nicely done with that trend. I've been staying away from jumping in when the ema's are together for fear of getting caught at the base of a big trend. With a small account and limited margin waiting for price to move away from the 200 feels like it has higher probability of success. As my account is growing I think I'll start practicing jumping in when the ema's are together.

Another good day my end with one hiccup at the end of play with EURGBP. I missed the chance to jump out as price hit the 200 and started having worries about price taking off slowly in the wrong direction. I didnt want to spend all even tense, watching the action trying to average out. Decided to eat the loss before it put a significant dent in the days gains. Overall still up! Logged on to check price on writing this to see that I would of been more than fine if I had held. Hindsight.

I've had an idea for an indicator which would make this strat a lot easier for those of us who cant watch a screen all day. The idea is super simple, the indicator will alert once price moves X pips away from the 200. The X being a variable you can set. I might even involve the ATR. I had a rake around the indicators on TradingView however haven't found anything of use or even close to the idea.
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  • #10,965
  • Feb 21, 2024 1:32pm Feb 21, 2024 1:32pm
Lovely trades PR31D!

the 200 is a tricky mistress. i've been learning as much as I can from the legends around here, and it IS dangerous playing near the 200. at the moment I take some indication from the 200 direction being relatively stable, then I try to trade away from it if it looks sensible. but I've been changing my mind regularly on how to handle it. most definitely still an amateur on this side, and i try to be very conservative. i also use the 200 as a kind of backup, if the market gets away from me then i make a point of waiting for the 200 to catch up - then i just try to break even (if I need to double-down then the market is moving more than I expected, so i'm starting to head into dark waters)

i often notice the price bouncing off the 200 if it's going to continue trending, only really on the majors tho.

btw it's easy to write your own indicators for tradingview, play around a bit.
  • #10,966
  • Feb 21, 2024 1:41pm Feb 21, 2024 1:41pm
heres a mess i made recently on AC
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  • #10,967
  • Feb 21, 2024 5:31pm Feb 21, 2024 5:31pm
Quoting PR31D
KoF seems to know when to weigh up a trend to dig himself out DD when countering. If it were me I'd be holding onto every position until I was in the clear yet he often starts closing orders in profit as the price goes in his favour. Im thinking 'what are you doing just hold on!? What if price turns again!?'. I guess its a time thing.
i also wonder why he doesn't just hold to the end, i think it is partly a time thing as you say, but i also think it is mostly about his risk and money management style...

initially anticipating a break of big round number resistance which didn't occur, he starts to flip orders to ensure he still makes profits and to maintain a manageable number of orders as the unplanned sequence of events plays out...

Quoting PR31D
The idea is super simple, the indicator will alert once price moves X pips away from the 200
nice trades - i think your idea about the distance to ema200 indicator has been discussed in this thread already and there might be some mt4 or mt5 indicators lying about, in any case searching for it should yield much results...

Quoting rodney204
heres a mess i made recently on AC {image}
great work rodney, scalping does not always result in quick profits so trade management is essential...

my understanding of ema200 as it relates to the ema strategy is this, when price returns to ema200, that is a starting point - from there it will likely begin to range around it, this is the ideal time for countertrend trades...

but eventually, price will break out of the range on either side and KoF suggests any open countertrend trades should be closed at this point and to be on the lookout for a trend in the breakout direction which is further reinforced when the faster ema's cross ema200...

ema200 is also used as a target when a tough trend is encountered during a countertrend trade...
every minute matters!
  • #10,968
  • Feb 21, 2024 11:40pm Feb 21, 2024 11:40pm
M1 EURUSD - if it looks like it's going up, then it's going up! - al brooks...
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every minute matters!
  • #10,969
  • Feb 22, 2024 12:13am Feb 22, 2024 12:13am
M1 EURUSD - and up it goes!
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every minute matters!
  • #10,970
  • Feb 22, 2024 12:16am Feb 22, 2024 12:16am
M1 EURUSD - now that's what i call POSITIVE SLIPPAGE!!!
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every minute matters!
  • #10,971
  • Feb 22, 2024 5:20am Feb 22, 2024 5:20am
M1 AUDUSD - if it looks like it's going down...
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then it's going down!
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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 5:32am Feb 22, 2024 5:32am
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...
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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...
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so now i am left to clean up the mess i made which is never fun and incurs a heavy cost in time...
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mess all cleaned up!!!
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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 6:09am Feb 22, 2024 6:09am
M1 AUDUSD - and down it goes!
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every minute matters!
  • #10,974
  • Edited 10:28am Feb 22, 2024 10:07am | Edited 10:28am
left a lot on the table this time. was hoping for nice big trend but chickened out

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going short on the GA, looks like a reasonable entry

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good entry but scared playing amongst news

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  • #10,975
  • Feb 22, 2024 10:36am Feb 22, 2024 10:36am
Quoting niks
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...
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?

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  • #10,976
  • Feb 22, 2024 12:49pm Feb 22, 2024 12:49pm
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.

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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.
  • #10,977
  • Feb 22, 2024 5:18pm Feb 22, 2024 5:18pm
GU quick one bouncing off the 200

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  • #10,978
  • Feb 22, 2024 5:21pm Feb 22, 2024 5:21pm
Quoting PR31D
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.
Nice! well done!

i see you're plotting the distance to the 200. one thing i've also been using is the distance between the 200 and the 200s highest and lowest points over the last 500 candles.
  • #10,979
  • Feb 22, 2024 6:05pm Feb 22, 2024 6:05pm
Quoting rodney204
{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}
thanks, yes, that's exactly what i should of done rodney, as you highlighted, and is most likely what KoF would do as well which is why i posted it...

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!

Quoting PR31D
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.
your trading well pr31d! just wanted to highlight this typical emerging trend from your last snapshot...

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!
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every minute matters!
  • #10,980
  • Feb 22, 2024 9:33pm Feb 22, 2024 9:33pm
M1 EURUSD - catching the emerging downtrend!
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every minute matters!
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