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Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

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Attachments: M1 Countertrend Scalping Strategy
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M1 Countertrend Scalping Strategy

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everything closed with good profit
Quoting chhico
{quote} That is not that simple Abade... scalping is an art and not a set of fixed rules.. you have to adapt continusely to what is appening on the market
Powerful words. So yeah how would you have dealt with this if price had shot up after the big group of sell orders? Show us some of the art.

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The trend is not my friend.
I would have used some advanced money management tips.. it is not possible to expalin all of this knowledge in few posts and however I would not share my secrets fo free...
First of all I am Spanish and English isn't my strong point so I apologize.

I have been operating my own variation of this wonderful system for 1 year and I wanted to thank everyone who contributes to this thread. Today, after 10 years since I started forex, I can say that I'm profitable. I simply found a system that suited my personality and with which I feel completely at ease.

I want to make several points in case anyone else finds it useful.

-At first I used the system in 1 and 5 minutes but over time I realized that if I operated these time frames and expected the price to make big swings I should look at 1h and 1D charts so that in the event that the price It was against me if I had bigger graphics as a reference I could expect bigger spins.

-On several occasions I thought and think about using SL because that would allow me to use larger lots, however if I use SL I am harmed both systematically and mentally, which is why I do not find it useful. I prefer to use small lots and as the price goes in my favor I add more operations.

-Although it is always said, it is totally true. Psychology is the most important thing, find your own system, understand yourself and above all never get out of your system.
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M1 XAUUSD
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every minute matters!
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I haven't come this far to only come this far !
Quoting Amiraven
{image}
more than twice as much, well done amiraven!!! it was an excellent haul...
every minute matters!
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I wanted to get out early as my margin was getting squeezed but again on how far it went. Nice exits Nik and Amiraven.

However what offsets the sickness a bit is I did manage an exit on gold on the 200 which is a first for me.
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Quoting chhico
I would have used some advanced money management tips.. it is not possible to expalin all of this knowledge in few posts and however I would not share my secrets fo free...
You will be pleased to hear that there is no post limit to these threads. If we are not here to share and learn then what is it we're doing?
The trend is not my friend.
Quoting chhico
{quote} That is not that simple Abade... scalping is an art and not a set of fixed rules.. you have to adapt continusely to what is appening on the market
Thanks for your reply @chhico, I agree that adaptability is the name of the game.

Quoting Darwati
{quote} Abade, it would be a shame if you didn't see what I saw half of pandora's box is on your thread, the other half is the opposite of your thread You can find Pandora's box if you combine the two To open it you must be able to manipulate orders in 2 ways at once (automatic and manual EA) Good Luck
Thank you for your thoughts @Darwati, hopefully I will be able to master both.

Quoting Karmaw
First of all I am Spanish and English isn't my strong point so I apologize. I have been operating my own variation of this wonderful system for 1 year and I wanted to thank everyone who contributes to this thread. Today, after 10 years since I started forex, I can say that I'm profitable. I simply found a system that suited my personality and with which I feel completely at ease. I want to make several points in case anyone else finds it useful. -At first I used the system in 1 and 5 minutes but over time I realized that if I operated these time...
Your english is perfect.

SL is not a good idea most of the time, I've learned this by trading both manually and algorithmically.

I am glad you found value and inspiration in this thread, and I'm also very thankful to all the people who share their work and insights with us, trading would be a very lonely journey otherwise.
practicing discipline, patience and management
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Big hello , just want to ask , if Abade allows, did anyone try method of Jean-Francois ? I just saw his approach, similar to this thread , must say never saw anyone use 36 pips sl for gaining 3 to be honest , he’s using 4 boxes, each box represents average move from 5 m tf , but using it on 1 m tf, than he got he’s bias for 2 hours trading time ( lo/ ny overlapping time as i understood)—-each box is 60 bars long , 9 pips wide for eu ( different for other pairs ), also he’s referencing point for boxes is support/res areas —- now, let’s say he’s bias is short and price goes long , he start building he’s boxes, every time price goes up in the box he’s shorting it(4 positions for each box max AND 3 pips TP always)—— he is saying that 5 boxes was maximum for him, also he’s saying about cleaning positions that are left behind, i must say this is really looks promising, i got my approach already but without sl maybe he’s strategy with this also can bring good stuff, if someone interested yesterday i discovered he’s channel
https://m.youtube.com/watch?v=e8geZBKG28U


P.s i hope u guys have good time while trading
All the best
Make your own rules and stick to it.
Quoting charli86
Big hello , just want to ask , if Abade allows, did anyone try method of Jean-Francois ? I just saw his approach, similar to this thread , must say never saw anyone use 36 pips sl for gaining 3 to be honest , he’s using 4 boxes, each box represents average move from 5 m tf , but using it on 1 m tf, than he got he’s bias for 2 hours trading time ( lo/ ny overlapping time as i understood)—-each box is 60 bars long , 9 pips wide for eu ( different for other pairs ), also he’s referencing point...
Glad to see you back @charli86! Hope you are doing well. And yes! It is a very similar style, but far more structured.

Jean Fancois is using ATR and fixed sized boxes to read the "average move" and check where price is most likely to reverse. It's an interesting way to visualize the "extremes" without indicators. It's also a way to manage risk, for example: 4 trades per box and 4 boxes in total equals 4% of his account; this is the "max loss allowed" that is being visualized in the chart (very practical IMHO).

I can see there are benefits of doing it his way instead of using Bollinger Bands (or similar) indicators and/or fixed support/resistance.

If you want to test this concept feel free to do so and share with us!
with this strategy, when is the right time to trade after red news?
30 minutes after the news, or 1 hour after the news?
and have you guys ever MCed with this strategy?
Quoting Karmaw
First of all I am Spanish and English isn't my strong point so I apologize. I have been operating my own variation of this wonderful system for 1 year and I wanted to thank everyone who contributes to this thread. Today, after 10 years since I started forex, I can say that I'm profitable. I simply found a system that suited my personality and with which I feel completely at ease. I want to make several points in case anyone else finds it useful. -At first I used the system in 1 and 5 minutes but over time I realized that if I operated these time...
Can you share your experience when trading with this strategy?
like :
1. What is the trading capital/lot size
2. the forex pair you are trading
3. market trading session, new york/london?
4. additional indicators that you use
Quoting javipenjamo
practicing discipline, patience and management {image}
Javipenjamo, just a suggestion, if you are learning counter trends you should use a pair other than XAUUSD,
if you are already skilled at counter trends you can use XAUUSD
You also have to understand that XAUUSD trading hours are different from other pairs
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Quoting Abade
{quote} Glad to see you back @charli86! Hope you are doing well. And yes! It is a very similar style, but far more structured. Jean Fancois is using ATR and fixed sized boxes to read the "average move" and check where price is most likely to reverse. It's an interesting way to visualize the "extremes" without indicators. It's also a way to manage risk, for example: 4 trades per box and 4 boxes in total equals 4% of his account; this is the "max loss allowed" that is being visualized in the chart (very practical IMHO). I can see there are benefits...
Yeah, but I am not very comfortable with his style, generally, I would not enter trades where he is entering, but maybe implement his approach to mine,as for my approach I need to wait and then wait more,we`ll see...For example,I would wait for gold more to go up on this tf,and from a marked level I would consider shorting,as setup preparing for drop till 2340, but if implemented he`s boxes in this style could be something very good,we`ll see
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Make your own rules and stick to it.
gold, now shooting, let's see, not fully cooked as not touch 2372 but profiting already, moving on,if took me out ok,but the target is still 2340,tp1 2360....
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Make your own rules and stick to it.
Quoting charli86
gold, now shooting, let's see, not fully cooked as not touch 2372 but profiting already, moving on,if took me out ok,but the target is still 2340,tp1 2360.... {image}
I wouldn't feel comfortable shorting gold right now. There is just so much turmoil and geopolitical uncertainty that makes it a lot stronger against the rest currencies. The most recent CFTC shows the big players are long on gold (futures): https://www.cftc.gov/dea/futures/deacmxsf.htm.

Also, price is moving towards new "all time highs" in the daily timeframe:

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I am not sure if it is going to make the big move in the next couple of days, but there will be a lot of volatility in the lower time-frames for sure, so be careful people.
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johnnote