M1 Countertrend Scalping Strategy

Quoting birdland

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my weakest pair today, i had to close this pair with a loss. but day was positive;-) {image}

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Quoting Polimini

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{quote} With enough leverage and money and if you kept at it you'd already turned it around, i find this is true most of the time in M1. Even if it's a bit scary to keep adding order for that long

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Quoting birdland

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{quote} yes in this case. but i have experienced some trends that lasted longer and didnt stop and i lost more than 50% back to my intitial funds or got a margin call. i am talking from a $500 account using only 0.01 lot per position. here an example GU from january: {image}

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Quoting Polimini

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{quote} I thought about this the other day, and I've seen it happen myself and bailed out too. But what if: when you see the trade is running away from your control, and you see one Support or Resistance on the H4 or D1 that is very far away for you to keep the trade alive, instead of closing it, you open the opposite trade (if you have 20x0.01 lots short, you open 0.2 lots long) and freeze the trade, when it gets to that S/R level, you see how it reacts, and you can decide to: close it all or if it doesn't go your way at no extra lose; or close...

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Quoting birdland

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{quote} what you are talking about is hedging, or some say countering, limbo or freezing and it makes sense for many. i have done a lot of hedging in the past and to me i see not THE advantage in it, so stopped using hedging. by the way there is a thread from waveskierrob who is discussing this matter and i learned some hedging strategies from him. but you should try it and feel how does it feel for you. i felt not really comfortable. i like it more to make a clean cut and take a loss. but thats just me;-)

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Quoting gringo2019

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{image}

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Quoting Ronin-

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Thank you all for the comments — I truly appreciate it Ended the day with 350 pips: {image}

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Quoting Ced74

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{quote} 1.31am. Well done mate. 703 pips using M2 Candle.....That will do me for the day. Bring on to-morrow. {image}

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Quoting Ronin-

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{quote} The master at work. {image}

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Quoting Ced74

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{quote} Thanks to you.. Slow day due to CPI news so I only scalped ..Would like to see 5000 again. It is all about winning consistently every day....I have been down the track of winning Big one day and giving it all back the next....Destroys ones Confidence. R

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