What it is clear is that things are not clear yet. Anyway it won’t be a problem long because we will continue to see the evolution in Myfx account so we will have confirmation sooner or later.
What it is truly clear is that critics that appear in this post claiming that “they knew it was a fake”, “has lost his credibility with the myfx account except for fanboys” or “his teachings are ridiculously complicated” have shown to have very little credibility.
Saying that his teachings are complicated and advising to follow simplers systems like the 3 ducks (nothing against it) is hilarious. If you find his concepts complicated I can’t imagine what you will think when you check the curricula of a CFA or top MBA. LOL, and you are gonna be competing against these people!!!.
Taking seriously the actual myfx account can only be done by people who haven’t studied the materials, because it was very funny to see that in exact points where using a pattern there was a bull signal he would take a bear trade, even against a s/r. If you dind’t see he was doing bull**** (i don’t know for what reason) is that you didn’t have a clue.
Still, it remains to be seen his trading capabilities. This is not clear at all.
There are two verified truths: His materials where of very good quality (90% of them taken from previous developments that can be found in trading books), he did a tremendous work transforming them to videos which is faster and better that to read them in the original papers (tools wont garantee you success, for that you also need brain). And the second is that there is a big crew of brainless haters that are not able to give any kind of sustancial reasoning in terms of trading knowledge for their hate claims.
Last but not least, it has to be pretty humiliating to have a twitter post banned after being such a contributor to the website. I almost leave this site myselft when i first entered, i put my first post saying something absolutely neutral and being inmediatly banned. Moderators in this site are quite… agressive.
Anyway, we shall see. Good contents dont guarantee he is a top trader. But he will have his chance to demonstrate and shut some mouths or the contrary.
You’re quite correct to clip my ear on that one SoM, I shouldn’t have painted the vast majority of long termers with that tainted brush. Bad choice of phase, please accept my apologies.
To be honest I’d forgotten all about James MG, as I had TRO Julie.
I guess once some of these characters are out of sight for long enough, they’re out of mind.
You mean the same tone you’ve occasionally used yourself lately?
To you maybe, but try telling that to those who now earn [B]real[/B] money from this endeavor as opposed to dreaming about it
Yeah there’s a particular thread knocking about at the minute which explains nothing other than trading on a whim! And he’s the biggest joke on the site if anyone needed any other clues.
As far as I remember nobody said his teachings were complicated… they tend to confuse traders since there a lot to check before entering a trade, that for new traders in day trading is really bad.
I do not trade 3 ducks but I reckon is a good strategy for new traders very simple and straightforward… I do not find anything hilarious about it as long as it makes money.
A top MBA??? hahahaha those kind of guys are too ignorant for this game, at least at the bank level… quants are mathematicians or physicists…
well, yesterday ICT went long and nearly most of his followers did the same using the tools provieded… (just check the thread)
explaining things after the fact is pretty easy… even I can do it…
To be fair, I would add Market Structure at the top of the list. Also Time of Day pertaining to market behavior, Risk Management, proper usage of Fibonacci retracements and extensions, and understanding higher time frame market behavior, etc. I totally agree that it takes time to learn and be able to apply the methods ICT was teaching.
I am one of the ICT loyal following. Yes, it can be tricky looking on the right side of the charts, which is why every trader loses trades, and the trick is to maintain a good R:R ratio. I don’t think that there is only one right way to trade. We all have different things to share and learn from each other. The biggest negative that I see with ICT, was the intolerance that some followers showed towards others, and that’s not really an ICT issue, it’s more behavioral. This past week on the contest thread, I got snippy at a couple of people that I felt were making negative comments for the sake of jumping on the bandwagon rather than adding value to the conversation. And yes, I try to be funny here and there.
Here are some real numbers: I discovered forex trading in July 2011, and over a couple of months had deposited $5,100 in a trading account. As a guess, I would say that I’ve won in total, trades of about $4,000 and lost trades of about $4050 for a net loss of $50. As an estimate, I would say that using ICT methods resulted in an overall profit of $2,600, and using non-ICT methods resulted in the $2,650 loss. These are rough numbers, but I work with numbers every day, so they are probably within reason. About 1K of the losses occurred in this last month using non-ICT methods. In late December my account had over 6K in it.
What this means is that when using ICT methods, my initial balance increased more than 50% in my first 18 months of trading. That number would be closer to 100% if I’d had the self control to let some trades run, not to mention several big trades that I missed entry in because I set up my orders the night before. Honestly, his methods take time and it can be frustrating. But if you’re going to discuss the value of his methods, it’s only fair to everyone to keep the conversation real.
Ok folks I’m just borrowing Jaroons account to give you some premarket analysis.
Now I’m not saying price will move up or down but if it does I have some levels of interest for you. I’d be eyeing sells at MR1, R1, MR2 and R2. Keep an eye on the institutional figures of 100 and 50 oh and 20s and 10s. Check your session highs and lows as well as weekly open. Weekly highs and lows, monthly highs and lows. Oh check your pivots on GMT and EST. Don’t forget ADR to take all those crazy profits. OTE and if that doesn’t work try the reflection pattern.
Now I don’t want to make things too easy for you so I’ll leave market structure and market flow, kills zones and judas swings, SMT, Traders Trinity, indictor divergence and hidden divergence etc.etc out of it but remember if price reacts at any of the above levels you heard it first here, like taking candy from a baby. GLGT
Well it was a joke AK and I must admit to being quite conflicted. I’ve got a nice little trading strategy based on a smallish portion of what ICT offered but boy was there alot of conflicting signals and the point about taking credit for one of a number of levels being hit stands.
Worked out the odds on any more bets lately bright spark?
Or would you like two or three of the different thread contributors on there to take you by the hand & walk you through it again…& again…& again, until you get it…or not.
You may understand them, after all you speak Scottish English and drive on the wrong side of the road… ROFL
have fun.
Make sure your trade style is sync with your preferred risk profile and or preferred time frame and or oh nevermind I can’t say it like they do. LOL
I have a PDF that JohnnyKanoo made some time ago of the most relevant posts in the original ATT thread. It’s sort of like a missing book of the bible. I don’t know why it got taken off the thread. PM me.
Just popped my head into the three ducks thread and discovered captain Currency is an Irishman. I have a feeling I’m going to get along in there just fine my friend!
And as for the driving, don’t be daft man, we can’t BOTH drive on the wrong side of the road