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M1 Countertrend Scalping Strategy

  • #11,701
  • Jun 3, 2024 7:26am Jun 3, 2024 7:26am
M1 AUDUSD
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every minute matters!
  • #11,702
  • Jun 3, 2024 8:27am Jun 3, 2024 8:27am
M1 EURUSD
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every minute matters!
  • #11,703
  • Jun 3, 2024 9:01am Jun 3, 2024 9:01am
M1 AUDUSD - a truly beautiful amount of positive slippage!!!
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every minute matters!
  • #11,704
  • Jun 3, 2024 1:36pm Jun 3, 2024 1:36pm
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.
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  • #11,705
  • Jun 3, 2024 7:58pm Jun 3, 2024 7:58pm
What a beautiful candle to close out the day on.

Entry was perfect.
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Golden nuggets of wisdom not offered here.
  • #11,706
  • Jun 3, 2024 9:48pm Jun 3, 2024 9:48pm
Quoting PR31D
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}
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!
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Quoting Present
What a beautiful candle to close out the day on. Entry was perfect. {image}
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?
every minute matters!
  • #11,707
  • Jun 4, 2024 5:10am Jun 4, 2024 5:10am
Quoting niks
{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?

My entry was based on 2 LWMA crossing MACD signal line and price action (price bouncing off lower Cap line).
Golden nuggets of wisdom not offered here.
  • #11,708
  • Jun 4, 2024 7:31am Jun 4, 2024 7:31am
Quoting Present
{quote} My entry was based on 2 LWMA crossing MACD signal line and price action (price bouncing off lower Cap line).
the cap channel looks far below your entry, or am i not seeing correctly?
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every minute matters!
  • #11,709
  • Jun 4, 2024 9:15am Jun 4, 2024 9:15am
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I haven't come this far to only come this far !
  • #11,710
  • Jun 4, 2024 10:35am Jun 4, 2024 10:35am
Quoting niks
{quote} the cap channel looks far below your entry, or am i not seeing correctly? {image}
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.
Golden nuggets of wisdom not offered here.
  • #11,711
  • Jun 4, 2024 10:32pm Jun 4, 2024 10:32pm
Quoting Amiraven
{image}
your risk management has moved to the next level, that is an excellent sequence of trades amiraven, very inspiring and always great to see!

Quoting Present
{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.
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!
every minute matters!
  • #11,712
  • Jun 4, 2024 10:48pm Jun 4, 2024 10:48pm
M1 AUDUSD - ema200 bounce!
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every minute matters!
  • #11,713
  • Jun 5, 2024 1:01am Jun 5, 2024 1:01am
M1 AUDUSD
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every minute matters!
  • #11,714
  • Jun 5, 2024 2:20am Jun 5, 2024 2:20am
Quoting niks
{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!
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.
I haven't come this far to only come this far !
  • #11,715
  • Jun 5, 2024 2:42am Jun 5, 2024 2:42am
Quoting Amiraven
{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.
it's always my pleasure amiraven, your notably advanced risk management deserves it! besides, it's always motivating for me to see great trades and you sure know how to produce them!

M1 AUDUSD
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every minute matters!
  • #11,716
  • Jun 5, 2024 3:05am Jun 5, 2024 3:05am
M1 AUDUSD - ema200 breakout pullback entries...
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targeting resistance...
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every minute matters!
  • #11,717
  • Jun 5, 2024 5:58am Jun 5, 2024 5:58am
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.

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  • #11,718
  • Jun 5, 2024 7:19am Jun 5, 2024 7:19am
Snuck a good one in. Entry on Macd cross was excellent. Boost from news was added bonus.
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Golden nuggets of wisdom not offered here.
  • #11,719
  • Jun 5, 2024 8:38am Jun 5, 2024 8:38am
Quoting PR31D
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}
running out of ammo when you need it most sucks! using a fixed lot size is the most efficient way to manage margin... you did very well to hang on as long as you did and break even is an excellent result, i notice you snuck in some successful shorts as well which is always a nice confidence booster for the next session!

Quoting Present
Snuck a good one in. Entry on Macd cross was excellent. Boost from news was added bonus. {image}
excellent countertrend trade present, clearly catching the cap channel bounce this time and targeting ema200 where resistance lies, great work!
every minute matters!
  • #11,720
  • Jun 6, 2024 7:54am Jun 6, 2024 7:54am
M5 AUDUSD - full daily loss was forced to avoid a breach, i was just a few pips short from preventing it after which it reversed moving onto hitting the original targets which would of put me way ahead in the trial, but it wasn't to be setting me back almost 5% instead - trading can be very cruel sometimes!
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M1 AUDUSD - on the flipside it can also be very kind, the recovery was well assisted with the lucky escape on the last set of longs where i adjusted the targets just before they just got hit!
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M1 EURUSD - small loss then recovery to assist the overall recovery
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the good news for me is i avoided the breach keeping the account alive, and then recovered over half the loss in quick time, bringing me back on track to pass the objectives!
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being forced to take a loss just to avoid a breach is not ideal, and is very difficult in the beginning, but necessary - ideally my exposure should be better managed to avoid reaching those limits...
every minute matters!
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