M1 Countertrend Scalping Strategy

Quoting PR31D

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Not a great start to Monday. In both these examples the 200 exit lead to a small loss. The top example I should of exited on the first 200 touch. Going forward if I'm a few orders in I'll use the 200 as an exit if in profit. Failing that wait for a 200 cross and then use then 20 as a SL. {image} {image}

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Quoting Present

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What a beautiful candle to close out the day on. Entry was perfect. {image}

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Quoting niks

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{quote} waiting for ema200 when in drawdown is the way to go, but you will find as in both your trades that once it reaches and breaks it after a long period of time on one side, it will now continue on the other side - this often means that your original targets are the ones to stick with as hard as it is! {image} {quote} i'm not sure i can see the entry, now i see it! it was a nice exit candle... was the entry based on an ema200 bounce or something in the indicator where you marked the entry?

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Quoting Present

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{quote} My entry was based on 2 LWMA crossing MACD signal line and price action (price bouncing off lower Cap line).

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Quoting niks

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{quote} the cap channel looks far below your entry, or am i not seeing correctly? {image}

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Quoting Amiraven

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{image}

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Quoting Present

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{quote} You are seeing correctly. We could say it was the bounce over the 200 EMA but I was really looking at the overall trend from the bounce way back. I was caught between needing to be truthful or saying what I should have done. I sincerely hope that made sense. June 4 : 8-1.

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Quoting niks

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{quote} your risk management has moved to the next level, that is an excellent sequence of trades amiraven, very inspiring and always great to see! {quote} the pullback to ema200 was a good time to enter, the ema's are the primary focus of this strategy, everything else we use are just secondary guides... overall it was still a great entry and exit, thanks for explaining it, nice trading present!

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Quoting Amiraven

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{quote} Thank you for your kind words! I am glad to hear that my risk management has been noticed ! I strive to continuously improve and make better trading decisions. It's always motivating to receive positive feedback like this from you Nik.

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Quoting PR31D

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I dont want to talk about Tuesday. What a ride into drawdown . I loaded up the trend far too early, should of waited for that double bottom before going hard at it. BE and stress. On Nicks advice I'll be aiming for yonder the 200 when riding out bigger trends. I've also halved my lot size as running out of margin is not clever. Onwards and upwards. {image}

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Quoting Present

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Snuck a good one in. Entry on Macd cross was excellent. Boost from news was added bonus. {image}

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