Ict

IDK yet liftoff I’ve yet to try the same ones with consistency. I bounce around. I do think maybe falsely we ll see, that applied consistently at the right time every day they will give you an edge. Like say market structure/flow is bearish. LO comes around and you look for OTE and align that with an institutional level. In a bullish move. maybe confirmed with SMT.

I believe the right combination would produce an edge. I think the problem people have is applying it with consistency.

Again if support and resistance market structure fibs and killzones don’t work then what does? Stochastics? MA’s? is it all 50:50? do pinbars work?

Day Trading works. I just think it is very tough and requires far more flexibility then what people allow for it.

But you are right about the psychology. I think that’s the primary reason traders fail above all else.

I have to admit, this is a good reply & answers one question about your thread before I’ve asked it.
So I’ll sit back & watch the result of your “students” over time… It is valid, the sum result of the subjects indicates the effectiveness of the method, if that makes sense… But still I’d rather you just posted a dam fxbook, so much quicker & I promise the terrorists wont get you! :stuck_out_tongue:

By the way, I am appreciate of having the able to have a heated debate with you and not have it turn ugly.

If they don’t, then they don’t work :wink:

We haven’t finished yet…

mg99,

With your military experience this may be a topic you’re familiar with. It’s a topic that I think is relevant in the ICT complexity issue and certainly worth considering when trading.

Back in 1998 I was running a small business and came across a INC Magazine article titled,

[B]“Corps Values” The U.S. Marines are trained to make split-second decisions based on incomplete information, in life-or-death situations. Can they provide clues to running a faster-reacting business?[/B]

Corps Values, Leading Your Company Article | Inc.com

The part of the article that I found the most interesting and changed my thinking process was the second paragraph under the header, “Decentralization: The Rule of Three”. I’ll run the risk of getting hit with a copyright infringement and paste a quote from the paragraph here.
[I]
[B]“Decentralization: The Rule of Three”.[/I]

The functional version of the rule dictates that a person should limit his or her attention to three tasks or goals. When applied to strategizing, the rule prescribes boiling a world of infinite possibilities down to three alternative courses of action. Anything more, and a marine can become overextended and confused. The marines experimented with a rule of four and found that effectiveness plummeted."[/B]

I found applying this concept in my small business was incredibly useful. And somewhere in the process of growing as a trader I realized this simple concept for managing chaos, confusion, and the unexpected in war also applied to managing the chaos, confusion, and the unexpected in trading.

Now I’m not saying that we should all reduce our training plans down to a three-step process, although the 3-ducks work well, I do feel to be successful traders we need to find a straightforward common sense niche-edge that can be easily and quickly identified. Wash, rinse, spin, dry, and repeat.

I’d suggest folks read the article, think about it for a few minutes and then decide if it has any merit.

Good I’m glad you haven’t read my comments that way I hope others don’t take offense either. I like pretty much everyone here. I think some are wrong :D. But that doesn’t take away from the fact that if babypips had a big get together I would be there looking forward to it. Id even buy a round :smiley:

How can we have a heated debate when you post intelligent material in here?
Looks interesting hummm…

I don’t consider then students, but rather participants. Have you seen the thread that has spun off from mine? Those guys are really getting analytical with my methodology and I see good thing happening there to even further improve my edge.

Because of the subjective nature of price action its interesting seeing everyone’s take on the market and how they go about determining their bias.

I brought the methodology to the table, but it’s everyone else that is taking ownership of it and going about it in a way that works best for them.

It’s the principles of risk management to me that is by far the most important element that I brought to the table.

As far as myfxbook is concerned. I want people to be able to figure if this works out for them or not on their own. It should take any more than 90 days for someone to do so. Three months vs three years. I’m not looking to attract people based on my individual results, simply because I have a methodology and not a system. They won’t be able to duplicate my results but they can adopt the methodology and create their own edge with their own results.

Maybe one day I will show it. But as it stands its not necessary. And from a personal perspective, the people that have been adamantly demanding I show my results have a persona that I’d rather not have on my thread. There are enough people out there that post their results that they can chase after.

There’s a reason my thread attracts intellectuals.

I employ something similar in my practice.

When presented with something, if I can do it under two minutes I do it regardless. If it takes more than two minutes I either delegate it to my staff or schedule a time to complete it.

I got that concept from a book, Getting Things Done.

Ironically I never finished reading the book.

You believe they work. The word here is “believe”. You believe they work because you have seen price react sometimes to them as you expected therefore you “believe” they work. Same way if I flip a coin and sometimes I get price direction right, I will start believing it works. People can apply them consistently in the past without the psychology part. But every time I see the tools applied in the past, I see rules being bent, valid setups avoided because it results in a loss. In short cherry picking.

You’re right. But what does work liftoff? and if nothing then why are you still here?

also MG99 which thread is the spinoff?

Have you ever read the 4 hour workweek? thats a good book on time management also.

Can’t recall the title. I think CryAgony is running it with Richard87.

Yeah my office is stuffed with those books.

Lol it’s fine, I’ve tasted worse!

I have never talked about the specifics of the tools ICT used as I never got into it sufficiently to follow them. I have said a few times that the whole raft of different terms seemed overly complex to me, I just don’t think that currency trading needs to be that complicated. In my view - backed up by experience, I tend not to talk about stuff about which I know nothing :wink: - more complicated teaching is made, the more open it is to interpretation and poor execution, so the more patchy the results obtained by the students might be. Which can undermine the whole process.

From what I did read, it seemed that many (and maybe all, I’m no expert on ICT) of the individual components of ICT’s stuff made sense and should work, but using so many elements in concert seemed overcomplicated and suggested a desire to be more certain than the market will generally let us be, which smacks more of insecurity borne of past struggles than it does of some trading guru. My own mentor sounds quite different, much clearer and more certain, and is very open to genuine two-way interaction, and that suits me more.

But that’s just my opinion. The only area where I generally engaged with the whole issue was when the ICT stuff started taking over the site. Between that and ICT’s shockingly out of control ego I did not think that it was good for this place. So I spoke up, just putting my view, which I stand by.

I also personally found the constant quasi-military crap a bit nauseating - we just all watch coloured bars on a screen, predict what they’re going to do next and make money off it, it isn’t that thrill-packed, in my view. I used to use a gun in my previous profession, and had others point them at me from time to time. It didn’t work alongside children, so I moved on when they started turning up, became a trader. These days, part of my trading income funds racing old cars, and my gunplay is restricted to GoW etc. For me, I love being a trader, but the trading itself isn’t exciting, it just opens up life opportunities that can be. So when the wolfpack strapped on their sidearms and headed off to do the whole one shot, one kill thing I just found it all a little lame. But again, I didn’t get into that at the time as it is not my place and was not relevant. Many liked it, so it deserved its place here. My point is, I didn’t knock the tools as they seemed fine and others liked them. I didn’t knock the military symbolism, as whatever my view it’s not my place and others liked it. I didn’t knock ICT as a trader. I didn’t knock his ego when it was restricted to his threads. I just said some things when it took over and became distasteful - such as PPF’s nastiness. I never had a conversation with ICT.

So pretty please, with a cherry on top - don’t make sweeping, inaccurate statements about me without expecting me to come back.

On your videos point, I listened to part of a couple of ICT videos, but didn’t get all the way through - I didn’t find the analysis on offer worth be hype, it was fine but pretty generic and I hear better elsewhere, and the way he kept licking his lips was kind of creeping me out. So I’m not the boy to talk to about the videos.

But it’s all cool - much respect to you for reading your post back and admitting to lumping me in with others! For my part, I respect how you can have a reasoned debate with others on this ICT stuff and its fallout without it getting personal, nasty or degenerating into anything silly.

So there’s no bad taste left on me, and I like you, too, even if we don’t agree on everything. You hold consistent views and put them across in a fair and reasonable manner. What’s not to like?!

ST

I really really wanna combine your strategy with market structure and swing high’s and low’s. But I’m to lazy lol. See its not the tools its the person :smiley:

I know for sure one thing works. It is called insider info. But on my journey I might find something else.

Yeah I know, I used “students” for want of a better word

That’s fine, I’m not trying to say someone has to, but this would just give more weight to their word if they did.
It’s not the $$ I care to see, rather consistent results over time.

How many people tried to fly & failed? Skeptics were justified, they said “If God intended man to fly he would have given us wings.” Then One person flew! They didn’t just talk about the methods & theory, they did it & the world took notice.

There’s a lot of “non fliers” posing as flyers speaking like experts sharing faulty information, replicating their faults in others.
I’m whipping a dead horse, I know it :20:

Really? Seems to me the most profitable in here contribute the least, (In terms of threads) there’s almost an inverse relationship between the two Lol!

Ok that’s a cheap sell line if I ever saw one! :wink: