@ICT_Babypips
Wow bro congrats! 
I wish I was at that level! All the best, make the neophytes weep 
Wow. Congrats! Gives me hope.
I have a question as im new to this thread (I will apologize in advance), how are we going to trade with this group (via this thread?). Will signals be put on this thread or do we follow through twitter?
Thank you all.
this is not a signal service, or group trading. This is a culmination of learning how to trade form the thread in Newbie Island.
I suggest to watch all the videos, read the thread, and once you have a firm grasp of everything, then join us over here, otherwise you will be lost the entire time
AK,
I appreciate once again sharing your hard times with us. I have had the worst month ever, even falling into the losers cycle a couple days. I thought I had my psychological issues behind me, guess not quite yet. Which is why you guys haven’t seen me around here lately. I’ve just been trying to get my head screwed back on straight. Your post the other day hit the nail on the head for me again. I had 4 or 5 positive months in a row, and bumped the equity in my account by a good chunk, then the sh*t hit the fan for me. I couldn’t lose that much money on a single trade! A trade would go staert to go against me and I began to panic. Then I started cutting my winners short, and letting my losers run. I thought I had the issue kicked a couple times, but I kept falling back in my hole after another loss. Hopefully this next week, and month I can pull out of my funk and get back on track.
Thank you all for your replies. Much appreciated.
thanks for the suggestion, but I’m not planning on withdrawing any funds right now. I have been trading with the lot size I was trading in November or December, which is about 1/2%. I’ll increase the lot size over time as I get back on track.
I’m definitely not glad you went through this because it really does suck, but sharing your experience is helpful for those of us that are or will go through it
With all the talk on here of going live and all that. Plus everyone sharing their opinions I thought I’d share mine. Be wise with the money that you have and been blessed with. Also, this is my own opinion. If you are comfortable with something else than by all means. For me though it is a huge psychological barrier when you start adding money into an existing account. If you can’t trade 2000 dollars into a million, you can’t trade 50,000 into a million. If you can’t trade 200 dollars into 2000 dollars, you can’t trade 50,000 into a million. Start with a small account and work your way up. And really with ICT’s strategy why do we even need to add money into our accounts? you only have to double a 2000 dollar account 9 times to reach a million. If you can double your account once your able to do it 9 times IF you keep you self in check (greed/fear). Take it slow especially if you are new. On one of ICT’s video’s I believe he even reccommended demo’ing until you are profitable 8 months in a row(This might have been a webinar). I don’t rememer exactly what he said, but it was along those lines. Even a newb who knows nothing can make gains in a single month maybe even two before torching it. Deciding to go live immediately as a result of one months winnings is simply asking to lose your money in my opinion. The key and beauty here is consistency. If you can learn consistency then all the money you need is at your fingertips. ICT’s approach is consistent with a built in safety net. No home runs needed. Even though home runs are consistently there. Plus his approach takes a lot of the fear/stress out of the picture. There just doesn’t seem to be any need to add money to an account. Start with an amount you are easily comfortable with losing and go from there. Thats all thats needed. ICT consistently doubles his money in a single month. With his teaching and determination to see us through, even if we do half of that. Heck even a quarter of that consistently, a couple years is all it takes. It doesn’t matter how low your starting account is. I’m not saying you are going to see consistency immediately. That is why we take it slow and learn, but once we grasp it your goals will be met surprisingly quickly. Again, don’t mean to offend and if you have found an approach that works for you than great and stick with it. Just wanted to add my 2 cents of national debt. Take Care! GLGT!
Hey guys and hey new thread. Thought I’d say hi to the old timers and our new friends.
I wanted to be able to report that I’ve doubled my account since going live in early October 2011 with 5K but I’m stalled at 8.5K and felt I should post rather than wait. This is better than it looks as I took a 30% drawdown in a single session of maddness early on and a further 10% drawdown over Christmas when in my wisdom I tried to take advantage of the low liquidity but it took advantage of me, the beast.
As I knew it would my trading was adversely affected with the release of the new materials and in all honesty I was still struggling to use the Traders Trinity profitably until quite recently.
I’ve now assimilated the new materials to a level I feel comfortable with and have changed a few things over the months that I’ll list in no particular order.
I do nearly no fundamental analysis at all, earlier in my trading journey I felt a bit of a fraud if I could not give a creditable explaination of what was going on in the glodal economy. This knowledge was giving me a negitive bias towards the Euro and affecting my trading thusly. I now ignore it and do better. I would like to monitor the news chanels and wait for an extreme of sentiment prior to a major reversal, which I think is valid, but the noise is bad for me so I don’t.
I don’t use COT, never really got it and as an intra day, generally intra session trader I don’t need it yet.
I only catch up with the thread when I’m done for the day so as not to be influenced (I’m easily led) and I don’t use forums chat atm.
The importance of regularly taking something off the table and leaving something to run has never been clearer to me.
The addition of the 18, 40 daily emas was great for me. I’m not suggesting you use them like me but if I’m using the emas (trending market) I don’t use the Traders Trinity and visa versa. So the simple action of identifying (to my satisfaction) wether I am applying the tools to a trending or ranging market has helped me.
So with all the notes I have, I think I remember Michael saying an effective trading strategy can be written on a match book- Trade with the trend following a pull back(emas), In a ranging market trading from the periphery towards fair value (T.T) ideally with the high TF.
As a die hard over trader I have started using a points system to enter my trades and I’m finding this a useful addition. I’ll try and attach it, please don’t use my numbers, they apply to my understanding and application of the tools and I think this is quite indvidual and subject to regular change but if you struggle with discipline this might help. It’s still discretionary and not set in stone but counting the points can bring me a bit of clarity, usually to stay out.
I will be back in a bit to correct spelling and punctuation :31: GLGT
I don’t post much as the threads are so busy but I’m a daily lurker.
LOL at We need to talk about Kevin, in my attachment, I googled this movie and now it’s on my trading chart forever, if anyone needs any IT solutions, I may not be the person to contact :19:
Please, allow me to jump into the conversation about starting capital and size of account, etc.
I dont really understand the point and cant see the logic of adding money to an account on later stage… Sorry, but doesnt make any sense to me.
First issue, that immediately appears is how do you track your progress when ‘‘artificially’’ change the account balance all the time? ‘‘Its a percentage game’’ some may say, yes but still complicated and confusing.
In this case (determining the starting capital), we should approach the matter from the Bottom-Up imo, or at least this is how I do it, not pretending to be ‘‘the right way’’ or ‘‘the only way’’, this is my way. I’m always trying to watch my bottom line, the top will sort itself out… 
It is said in every book on trading, says it every mentor or guru, says it ICT too: ‘‘start with what you are comfortable of loosing’’, dont trade with your rent money, dont trade with your lifetime savings, etc. This, combined with the minimum stake/size required by your broker of choice, should be the basis on which you should determine the starting amount. Nowdays you can start trading with 20 or 50 quid initial deposit.
And the size doesnt really matter with the ICT’s methodology, this thing (trading account I mean) will grow to a Million, no matter how small it is (still talking about trading account ). We have all seen it already in live examples. Even 50 bucks could be turned to 1 million, why stress yourself with huge starting accounts!?
Also, another thing, that is so obvious, but many traders missing it, you dont need and you never gonna use the full amount of you starting capital (being 1k, 10k, 50k). Allow, a ‘‘normal’’ 8 losses streak from the first trade, even on max risk of 2%, that shouldn’t go beyond 13-15%, hek make it 20% initial drawdown. If you remember Michael himself said in the first videos (just going through them again) something along the lines: ‘‘you wont need more than 30% of your account ever’’. So, to summarise, you only need $300 on 1000 or 3000 on 10000 physically available. Why you need to actually deposit $10k to sit there and do nothing, plus this is extra stress imo.
This is what I did: Check whats the min stake per pip on my broker, multiply it by 30 pip standard stop loss, then take this amount for your 1% initial risk (this where I did mistake and said this will be my 2% risk), multiply this amount by a 100 and you will arrive at your starting capital. I then, because like a bit of extra adrenalin, decided to put in only the money needed to place only one single trade, loaded just one bullet in my rifle if you like (’‘One Shot-One Kill’’, remember?). It was a win the first trade, so I had two bullets for the second trade and so on. From the second trade on, you risking ‘‘their’’ money, not yours and this is gigantic relief too.
If I was to loose the first trade, would’ve just put another bullet and try again until start on the right foot with a win. Hope all this makes sense to you.
:41:
There are alot of valid points being brought forward regarding starting capital. Speaking for myself, I have a specific plan to trade with much more than my current starting capital. In a few months, I will soon be in a unique position in my life where I may take a full year off between contract work and give myself a chance to see if I can trade full time and change career paths. I am lucky that I can afford to take this risk financially and have full support from my wife as well.
My goal is to net about 8% profit on average per month consistently on a large account. I don’t need more but will welcome the extra $ if it comes. I realized recently that I am also affected by others posts/chats during trades so I will avoid them altogether while in the market and check back end of day.
Regarding this 1st month going live for me, I reviewed February’s data and re-ran historical trades against this month again . I would currently be a +2% which would interestingly be the worst month when compared to 8 months of data I have accumulated thus far. Let’s see how things go moving forward …
Wow guys… you are pushing this thread along rather quickly… and it only has one entry so far lol.
My advice on the starting Capital issue would be start with the amount you are comfortable risking and can stomach losing every penny of it… and still have the nerve to refund the account should you have to.
Starting with a small account gives little room for nerves and emotional tug-a-wars to impose their effects on your Trading and following of your Trade Plan… assume one has a plan that is.
[B]GLGT [/B]:57:
PS: Market Review Video being produced this afternoon… need to snag a bite to eat then uh’ recording I will go…
~
Hey ICT
I have a quick question about stochastic high probability trade setup that we use on the 1hr and daily timeframe. Is it valid on a weekly chart as well?
Yep 
As ICT always says, his tools are universal, they apply to all timeframes
New Market Review Video Link On First Page… [B]GLGT[/B] :57:
This will be my only post here, so that I am subscribed to this thread. The old thread is getting bombarded by flame wars.
Looking foward to the new thread!!!:7:
PS: The Video ICT made on the first page was awesome, but I cannot stop laughing at the high heels and make up by the blonde warrior. :18:
Sorry about that… ended up getting sucked into it because I got feed up with the mess of it… Trying to be a respectable guy… Decided to remove anything I said that could be taken negatively. That’s not what I want to be known for. Just want to show good fruit. You will not hear any more peanut galley from me… I’m here to learn and improve on my trading techniques.
Yeah it is from a movie called Sucker Punch
What’s up folks. Just saying high and looking forward to this year. Proud to say I’m a student of ICT and looking forward to the development of this thread. Akeakamai, thanks for the sobering post earlier, I know it resonated with me. Anyway, it is awesome to be part of such a genuine group of people.