an example of waiting where most people would close at a loss, I have a very high risk tolerance but I do not recommend for most traders yet, until they learn to read the Market as KoF says.
cpfleger
cpfleger
2
Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies
strategy builder/tester for new scalping strategy 1 reply
1M & 5M Scalping System (Scalping Paradise) 21 replies
Reversals vs. CounterTrend Trade 28 replies
CounterTrend Trading 58 replies
DislikedOk guys so: a) cliffjaded would have used hedging to manage the losing positions. b) cpfleger would have used better timing for entries using supply and demand zones. c) RieseP would have accepted a daily loss and stop adding new positions. I want to share an observation I have made for EURUSD, GBPUSD, Ger-30 pairs in different timeframes: {image} {image} These images may trigger a big "duh", but could this be one of the key factors for surviving mid and long term trends using cost averaging, or am I going insane? (I know the spread is high in Ger-30...Ignored
Disliked{quote} I don't have enough history on my MT4 broker (Pepperstone). I think because it changed symbol from GER30 to GER40. Let me download 1 year worth of tick data from TickStory and see how I would trade that particular trend. Probably out of my ass lolx.Ignored
Dislikedan example of waiting where most people would close at a loss, I have a very high risk tolerance but I do not recommend for most traders yet, until they learn to read the Market as KoF says. cpfleger {image}Ignored
Disliked{quote} Hi cliffjaded! If your broker allows it you should use MT5 as it will download more M1 history data than MT4 for most instruments, and it has REAL spread history for backtesting as well!! hope this helps! Blueberry markets has good data BTW! But spreads are a bit too high to scalp the M1 (may need to go back to ICM) It doesn't matter if you use cheese or hindsight to get out of that trend, let's try to find a set of rules to save ourselves from future scenarios that are similar to that one. Thanks! Best regards!Ignored
DislikedSounds good I will jump in with you guys and show some results. Thank you as well Abade for starting this thread. I have already been experimenting with cpfleger's indicators. The HA candles are challenging for me after so long of using OHLC's but the rest is very straight forward which is nice. KOF Rocked it again today and made over 2K in profits in less than two hours with a real Live Feed. I followed him for the last part and had all successful trades. Who else wants to join us for an experiment??Ignored
Disliked{quote} MT5 is a dream for backtesting. Especially if you use EAs. Multi-threaded, multi-currency testing with real tick, real spread and slippage simulation. Even trading on it feels significantly smoother. I still use MT4 because some stuff I use are only available for MT4. My EAs and scripts i wrote are also for MT4. I'm in the process of converting over to MQL5. MQL4 is a lot easier to program but porting over to MQL5 isn't massively complicated either. Just need to get my ass on it. I want to use MT4 because i can use my nifty hedging/averaging...Ignored
Disliked{quote} My friend, I am trying to create a template using your indicators to share with everybody, however one of them is causing a lot of issues on the platform (it's completely frozen), how do you manage that?Ignored
Dislikedan example of waiting where most people would close at a loss, I have a very high risk tolerance but I do not recommend for most traders yet, until they learn to read the Market as KoF says. cpfleger {image}Ignored
DislikedStarting with 0.1 lots for theoretical $10 000 balance. Using 100ema for trend and 8ema for momentum. 1. Counter-Trend to Downsloping (Pink) 100ema Using 8ema as a rough guide for momentum shifts back to 100ema. I use a rough step 100 points before i consider adding an averaging order. After 6+ orders, i will up the position size by 0.1 lot. Eventually 100ema changes to uptrend. I would continue to hold till 100ema till it changes back to downtrend. Exit when 100 turns pink again (goes back down). Total Loss: $-179.50 {image} 2. Pro-Trend with Downsloping...Ignored
Disliked{quote} On this one you would add a order right since it's now back on the ema 9 correct?Ignored
DislikedJust started yesterday following the strategy... Whooping profit of +5.88 USD with micro lots... I am gaining more confidence gradually. Many Thanks cpfleger and Abade!! {image}Ignored
Disliked{quote} Interesting! How would they work together in this case (countertrend and trend-hedging)? Got a little confused in the end . I think an automation may help to visualize the concept in a backtester. {quote} KoF adds a new trade once the 9 EMA has catched up with the latest entry level. On the first post there is a video explaining it. This trade resulted to be a very bad breakout that is still running, let's see how it's solved! {quote} Very glad to hear it! Run at least 200 setups and you will know what's the usual performance...Ignored
Disliked{quote} Big oopsies . Should have trusted my old research that says XAGUSD is trend/momentum-friendly, it's very lean and doesn't chop very well. We may have to wait for a 200 EMA touch, I wonder how cpfleger is handling it (may have pulled out). Edit: It's losing gas now: {image}Ignored
Disliked{quote} Yeah man that was my first time ever trading that pair. I got smoked but that's why I'm on demo to learn. I slightly over leveraged could of placed better trades to average out looks like it doesn't matter though because it's still pushing up. I see what you mean about certain pairs tho. Eur/usd would of had multiple pull backs in that time frame.Ignored
DislikedA more straight-forward and typical scenario is opening a pro-trend trade when you close your counter-trend trade @ the ema touch. Then you close out your pro-trend trade when you open the next counter-trend trade. Trading the turning points both ways, so to speak - like in your examples on the first few pages. Eventually, one-side will fail to hit TP and then you will require averaging. {image}.Ignored