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M1 Countertrend Scalping Strategy

  • #12,781
  • Nov 6, 2024 2:12pm Nov 6, 2024 2:12pm
Quoting gringo2019
CM-PunkFX, If you read the entire Forum from page 1, we are trying an experiment in replicating a YouTuber known as Kong of Forex (KoF) and his free trading video's. His strategy is based on trend and countertrend trading on any timeframe BUT he prefers the 1M TF as its quick and less fees (Commission and Swap) per day. Now, since the 19th of October 24, I have been experimenting with the dreaded Drawdown Wall (leftover drawdown trades) and have convinced myself that the Market Cycles in a reversal mode due to the fact the Market Maker cannot go...
Hii gringo,

thank you so much for the reply… I am familiar with the KOF strategy as I hav enough both his ema full strategy and 1% strategy. I was more or less asking about how you hedge your trades and in what conditions you would place trades both ways including how it is you close and take profit. That was the interesting part my friend, any way in which you can share that please? Thanks in advance.
  • #12,782
  • Nov 6, 2024 3:18pm Nov 6, 2024 3:18pm
CM-PunkFX,
Firstly, I am breaking a very important rule with KoF Strategies and that is trading a very high spread Instrument (1500 Point Plus), this alone makes the last Candle bounce a lot more than a 1 Pip or less Instrument. This one major variable makes me react and Hedge more than a lower spread Instrument. Plus, there are a lot of Bitcoin Traders which makes the makes the last candle very hard to validate direction, especially on lower TF's (1M or 5M TF's). These two variables make it very hard to know when the Market is reversing or not, just in the last hour the 15M TF Last Candle has bounced 5 times and makes trading even harder. My method is using the normal MA's as direction BUT react by hedging the last candle. My best answer...
  • #12,783
  • Nov 6, 2024 3:21pm Nov 6, 2024 3:21pm
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  • #12,784
  • Nov 6, 2024 8:51pm Nov 6, 2024 8:51pm
Quoting gringo2019
{image}
like you say my friend all indicators repaint… that can’t be changed it’s a rule in the book. So we have to just accept that.. however although we accept this reality how then do we use them correctly. For example you have the super dem box on your chart and the extreme spike. If we used both of these for entry and they start repainting lots then we could have entered a trade far too early. We will then be in big drawdown and could even result in a loss if price goes too much against us. So how do we deal with this problem? In backtesting the indicator signals show their final position which all looks like perfect signals but in a live situation those extreme spike signals and super dem boxe signals could have moved about 5 times before that.
  • #12,785
  • Nov 7, 2024 3:45am Nov 7, 2024 3:45am
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  • #12,786
  • Nov 7, 2024 4:01am Nov 7, 2024 4:01am
Gents,

For information only.

ALL Indicators will either 1) Repaint / recalculate 2) Lag.... Do NOT let a title like Non Repainting Indicator fool you... Due to the simple fact that all Trading Platforms (TradersView, Ninja Trader, MT5, etc.) are fed data from a Broker which is the delay process to your Computer and worse to your Telephone... These are Risks before you even start to Trade.

Never Blame the Equipment....
  • #12,787
  • Nov 7, 2024 4:21am Nov 7, 2024 4:21am
Gold start to leaving its sideways ?

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  • #12,788
  • Nov 7, 2024 4:24am Nov 7, 2024 4:24am
Quoting gringo2019
Gents, For information only. ALL Indicators will either 1) Repaint / recalculate 2) Lag.... Do NOT let a title like Non Repainting Indicator fool you... Due to the simple fact that all Trading Platforms (TradersView, Ninja Trader, MT5, etc.) are fed data from a Broker which is the delay process to your Computer and worse to your Telephone... These are Risks before you even start to Trade. Never Blame the Equipment....
Tools never make decision, only human make decision
  • #12,789
  • Nov 7, 2024 4:49am Nov 7, 2024 4:49am
PipsArt,

Mr 50 Pips is trading again....
  • #12,790
  • Nov 7, 2024 5:43am Nov 7, 2024 5:43am
Quoting gringo2019
PipsArt, Mr 50 Pips is trading again....
Soon I will change my nickname to 50 pips man Hahahaha.
  • #12,791
  • Nov 7, 2024 5:50am Nov 7, 2024 5:50am
PipsArt,

I agree, start the paperwork Mt 50 Pips...
  • #12,792
  • Nov 7, 2024 5:55am Nov 7, 2024 5:55am
Quoting PipsArt
{quote} Tools never make decision, only human make decision
so if all indicators repaint and can give wrong signals and we still use them to make trading decisions but can’t blame the equipment, can only blame ourselves… does that mean we are just gambling and hoping we get traded right?
  • #12,793
  • Nov 7, 2024 5:58am Nov 7, 2024 5:58am
Nice touch of ema 20.
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  • #12,794
  • Nov 7, 2024 6:01am Nov 7, 2024 6:01am
CM-PunkFX,

Name me a sport, a job, an activity, that the human is not Responsible or Accountable for their actions.
Tools are just Tools, designed and manufactured by Humans for human usage.
Humans have a bad habit of labelling their actions and Gambling under your great country, Trading is under the Gambling Act (UK) BUT in my experience and opinion, Gambling has less control over risk, like the Dog Races in Tottenham, place your Bets and accept a win or a loss but not a managed win or loss.
  • #12,795
  • Nov 7, 2024 6:02am Nov 7, 2024 6:02am
Quoting CM-PunkFX
{quote} so if all indicators repaint and can give wrong signals and we still use them to make trading decisions but can’t blame the equipment, can only blame ourselves… does that mean we are just gambling and hoping we get traded right?
For me trading and gambling are the same in terms of psychology. When you play with emotion you will become a victim of emotion.
But in trading we can control risk and manage our trade, gambling cannot.
  • #12,796
  • Nov 7, 2024 6:09am Nov 7, 2024 6:09am
Quoting gringo2019
CM-PunkFX, Name me a sport, a job, an activity, that the human is not Responsible or Accountable for their actions. Tools are just Tools, designed and manufactured by Humans for human usage. Humans have a bad habit of labelling their actions and Gambling under your great country, Trading is under the Gambling Act (UK) BUT in my experience and opinion, Gambling has less control over risk, like the Dog Races in Tottenham, place your Bets and accept a win or a loss but not a managed win or loss.
what you say brother is perfectly true… and I 100% agree. My argument is you know how to trade so it’s simple to you. However another person say a beginner or novice using the same set up as you would probably not succeed as they would be following the indicators and making a lot of losses rather than gains. So it’s not really as simple as it sounds because past data on charts only show winners, they don’t show any of the losing set ups which are usually more than the winners.
  • #12,797
  • Nov 7, 2024 6:12am Nov 7, 2024 6:12am
CM-PunkFX

Thats why psychology plays a vital role in trading or even MMA... The Mind only works through theory and practical applications.
Thats why over 90% or Retail Traders never get formal education before their trading journey, I was luck and spent money on being educated by a few good London Traders before my adventure.

Mind over matter...
  • #12,798
  • Nov 7, 2024 6:17am Nov 7, 2024 6:17am
Scalp before US news.
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  • #12,799
  • Nov 7, 2024 6:20am Nov 7, 2024 6:20am
Quoting gringo2019
CM-PunkFX Thats why psychology plays a vital role in trading or even MMA... The Mind only works through theory and practical applications. Thats why over 90% or Retail Traders never get formal education before their trading journey, I was luck and spent money on being educated by a few good London Traders before my adventure. Mind over matter...
I agree with the above and you are completely right the knowledge is the deciding factor. Indicators are only to aid your knowledge. I have been using indicators too long now to say that they don’t work on their own. Only use indicators to make a trading decision if you have trading knowledge. Beginners and traders with no knowledge don’t bother… they will not work for you, you will only lose your money in the process.
  • #12,800
  • Nov 7, 2024 6:30am Nov 7, 2024 6:30am
Another scalp before news.
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