Outstanding!
Thanks for the screenshots to show us how its done.
My last entry for the day. Combining counter trading and price action is nice. An opportunity in EURO USD though risky, but has paid off well.
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I’m still in that Aud/Usd. Think I’ll just let it ride for a while based on daily chart.
Margin per entry on this pair is so small.
@AmericanTrader
Great, let it ride. Finally, it will give big profits based on the daily chart. I just checked it, and the uptrend on the lower timeframe is very promising.
Trading 1 minute timeframe is fun, a lot of opportunities presenting themselves. XAU USD very big wins for today.
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You are killing it mate.
I still can’t find the courage to trade on 1m chart though.
Trading 4h chart has made me very lazy and comfortable.
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@s22d
The King of Forex gave me the courage to trade on a 1-minute timeframe. Basically, I trade 1 minute to 15 minutes timeframe. This provides more opportunities as compared to higher timeframe, hence more profits. I can also sleep without thinking that I have running trades.
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That’s true. There are much more trading opportunities on lower timeframe.
I guess, I will sit my behind on couch and trade 1m chart on demo to get a grip on it and then move to real account.
Until then, 4h-8h is what I’m trading on real account.
What has been your longest counter trend trade so far?
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@s22d
It’s alright. In the 1 minute timeframe, countertrading is very short, but my longest countertrade has been in the 15 minute chart, which is 300 pips. However, in the 1-minute timeframe, trend trading has been longer than countertrading, i.e., between 250 and 300 pips. The benefit is that you get many opportunities in a single day, and you make more entries to increase profits.
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Other big wins in the New York session 1 minute timeframe. Closed all running trades since volume is decreasing. Big profits for today.
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My Aud/USD worked out nicely thanks to that last big green candle.
I have to admit that I never, ever, thought I would be using the kof strategy to trade from my phone while I am out and about. Having those trades that I thought were only going to last 5 or 10 minutes that turn into multiple hour trades is what gave me the confidence.
I still prefer the one and 5 minutes time frames. But there’s no need to dread if it turns into something longer.
@AmericanTrader
Sure, it’s nice to trade the 1- and 5-minute timeframes. Still the same, confirming the trend on a higher timeframe provides more confidence to ride on a trend.
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@callin
Exactly. I looked at the daily chart for mine and saw that I could have let it run for 2 or 3 days if I wanted. But like everyone else, I want to still be able to trade tomorrow so I took the Pips!
@AmericanTrader
That’s nice. Tomorrow is another day to make big profits. Congratulations!!! I still thank you for this thread; it has really offered me a life-changing opportunity through the KOF strategy. It’s very encouraging and gives me more confidence.
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But he only says to do that in a range. If the market is trending you’re not supposed to counter trend. This is how you can add to positions as price moves in your favour to get really big wins. I like to add after each pullback
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Well I can’t express how happy it makes me to see you doing so well. We are family now. The fortunate few who took the leap and landed on solid ground.