I’ve been seeing this mentioned from a couple crypto traders I follow on Twitter and YT. They mention ICT directly.
So I figured I should check out his stuff. Found this.
Anybody using this?
Hi,
It is my understanding that ICT was the original coach for many successful Forex traders, one of his students being VP of NNFX. Search for No Nonsense Forex, and subscribe to his channel. He as created over 150 videos and podcasts, about 95% of which i have watched, catalogued and taken notes - about 90 pages of notes to be exact, that formed the backbone of my trading plan. So far no complaints about the content, but I would not recommend it for anyone new to Forex. It is for intermediate or expert knowledge.
Sorry didn’t realize YT authors could block play back. Here’s the URL.
https://www.youtube.com/watch?v=7WM8qdkanIY&list=PL4D6QafzaxFHr-6-x131LBrKQE18dUjDM
Looks like you’re right! Found this:
ICT has tonnes of free content on Youtube. Lots of series and playlists. Once you’re ready go through them. No need to be paying to learn the free stuff then move onto more advanced ICT. Learn the basics of trading first
Agreed his new YouTube content is his most concise yet. Nevertheless if you’ve never looked at a chart before it will go over your head so make sure you are familiar with basic jargon etc first.
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There is a correlation between OB and Demand Supply zones and I find them quite good for entries along with IMB
This and you have to be patient. He can take his time getting to the point!
Yea this is great stuff. I see he has new stuff too.
Ah I’ll see if can do the same.
Completely agree, its intermediate for sure
Wing new to forex a lot of that went over my head
What’s IMB? Thanks.
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It’s short for Imbalance my friend.
Where say there’s large engulfing candles sometimes price revists these areas to fill in the Imbalance.
Best to hear it explained from ICT on his YT channel I may not be defining it clearly
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Somebody mentioned ICT and SMC in another thread.
Is SMC the same thing as using order blocks and looking at finding market structure, or something else?
Okay, did some looking. Found this:
https://www.earnforex.com/guides/what-is-smc-smart-money-concepts-forex-strategy/
So it is directly related to ICT. Here’s the quote:
Smart Money Concepts originated with The Inner Circle Trader (ICT), which is a program offered by a trader named Michael J. Huddleston. ICT offers some free resources as well as paid Forex mentorship.
SMC sounds highly technical when you first start reading about it. You may find yourself scratching your head at the basic vocabulary. To help you out, here are explanations of some common terms used by SMC traders:
- Order blocks: This terminology is used to discuss supply and demand. Some SMC traders say that order blocks are a more "refined’ concept than regular supply and demand, but others contest this claim.
- Breaker blocks and mitigation blocks: These terms refer to support and resistance.
- Fair value gaps: This term refers to an imbalance. There are a variety of different types of gaps, and they were all identified years ago. Some examples are common gaps, exhaustion gaps, breakaway gaps, and runaway gaps.
Plenty of pros and cons listed. Seems more that people are mad that he teaches something that was taught in the past, maybe using a different name.
there is NO ORDER BLOCK on the forex.
Nope. None. It does not exist.
EDIT: let me rephrase that… there is an order block but it would be easier for you to calculate how to do time travel or to travel at the speed of light then for you to calculate the order block in forex.
And regarding ICT, he says a bunch of fluffy things that sound good to newbies but don’t really work in real life.
Let me tell you something… if ANYONE actually knew how to calculate where there is a cluster of orders that would result in either an upswing or a downswing, they are not going to put together a course for newbies… oh my no. They would nail the door shut and put a closed sign outside they would hide inside and would be making millions of dollars. But instead what are they doing they’re making a course for a free course or a paid course nah.
There is no order block in forex, for practical purposes.
ICT is a fraud. If he knew how to trade he would be trading and he would be able to show tax returns that show that he is worth 15 million dollars or $2 million but I want a bet that he can’t do that. I bet he can’t show a tax return that says he’s worth $200,000. The way he talks in his videos he’s a Master trader and if he is truly a master trader he would be able to do that.
If ICT knew how to trade, he would be trading and he would be able to show you a tax return that shows that he made 600k this year trading for XYZ brokerage but he cannot do that he is a scammer.
So you can take that order block stuff about forex out of your mind because it does not exist.
They are selling you a bag of magic beans.
My apologies if I am a party pooper.
Regards,
I think it’s hilarious how ICT says on the front of that video that he’s going to show you how to simplify order blocks.
Simplify order blocks? That is as ridiculous as saying something like simplifying splitting an atom or simplifying time travel or simplifying brain surgery, lolol.
You could say something like simplifying how to bake a cake or simplifying how to brush your teeth but I want to promise you something calculating an order block is something that you can’t simplify for a PhD much less a newbie at forex… that dude ICT is so blowing smoke up your skirt he is selling you a bag of hot air he is saying that he can teach you how to do something that he does not know how to do himself.
Yes true , the same reason people become brokers not traders .
Same old… he’s a fraud, blah blah stuff.
Save your words. You can’t know if it works for anybody other than yourself. If it doesn’t good for you.
Take a new approach and add some value. Negative Nancy’s don’t last all that long here.
I love ict.
He represents himself as being a person that is highly skilled in the trading business, yet instead of choosing to become a rich trader oh my God no he chooses to teach amateurs how to trade.
Those that can’t trade become teachers.
If he told everybody that he doesn’t know how to trade but did he understands the basic concepts of trading and that he’d be happy to teach those to you then that would be honest.
But he represents himself as a very skilled and capable trader which he is not.