One word buddy: Confluence.
It’s really sad but if some of you spent half the time studying charts and learning how to trade instead of crying about this and that, you might find some modicum of success. I can already tell, based on the posts, that most have zero hope though.
[QUOTE=“popinjay;489809”]
I can already tell, based on the posts, that most have zero hope though.[/QUOTE]
About as much hope as ICT had of having a positive return on his account that everyone watched him blow up.
Does anyone remember the ICT batman reply? Thy was really funny.
ILovePizzaMore, please dont try to prove anything here. These ICT gullible followers need to sort their mentality problems before even start to learn about trading. Kuzia question for you. Do you think you invested a lot of time studying everything about trading and you deserve to be rich now?
PS did you see what i just did? 
Oh, lol, thanks for posting that post up Woolo - most of that page is ICT and ICTs sockpuppets trying to critisise that me saying that his claim was a load of rubbish - they look kind of foolish now (yet none of them will admit it). A lot of people on that page again I would think are sockpuppets (under 30 posts, type in very similar manner, posts restricted exclusively to his threads etc etc), so again you can’t have any dialogue with them.
Some of them are quite dim witted so again, you can’t really say anything. The ‘real’ people have long since abandoned it. PureMuscle has gone, even Purplepatchforex has gone. All of people who I am in contact on Skype who used to trade his methods no longer believe in him (and there used to be quite a lot). I don’t actually know of one ‘real person’ who I have talked to who actually believes him anymore.
I’ll refer to what I posted a few posts back - real people who are challenged on whether their methods work typically provide evidence and reply politely. I did the same in tmoneybags thread and received a myfxbook link (non profitable) and a balanced reply. I did the same in a petefader thread ages ago when he traded mad scalper and received a balanced outlook and overall critique of the system.
Only in ICT threads have I ever come across aggressive replies and questions of your own trading ability - seriously who does that?
In any other trading method I have discussed, people would actually work towards offering positives and negatives and discuss how they can optimise the method. I have never come across people questioning new posters trading abilities and intelligence if they doubt the method - only in ICTs thread. Basically in a ‘normal thread’ this situation happens:
example 1: Professional trader shows you how to trade with Moving Averages
Skeptical trader: "Hi guys, having doubts about this system, anyone got any proof it works?"
Trader 1: "Well, I have had some success with it, here’s my myfxbook, not that impressive but its doing ok"
Trader 2: "I had some success last month of +6% but this month I am down 3%. I think that it works better over the GBPUSD pairing."
Trader 3 "Its not the system for me - I found it ok, but I switched to the RSI trading method in conjunction and that seems to optimise it"
Skeptical trader “Ok, thanks guys”
This is what happens in ICT threads:
Skeptical trader: "Hi guys, having doubts about this system working, anyone got any proof it works?"
Trader 1: "You are doing it wrong. PATHETIC. Ha ha you should question whether you have got what it takes as a trader. Just because you can’t trade you are trying to blame others for your failures."
Trader 2: "You don’t need proof that it works. What are you going to learn with proof? What difference does it make if ICT makes millions. You obviously can’t."
Trader 3: "I have made a lot of money and have had great success. If you need proof then you just have an entitlement mentality."
Skeptical trader: “okkkkk…”
Basically obviously something is wrong here. There is such a difference in attitude between ICT threads and other threads that the replies that you get can’t possibly be genuine.
[QUOTE=“yunny1;489829”]
ILovePizzaMore, please dont try to prove anything here. These ICT gullible followers need to sort their mentality problems before even start to learn about trading. Kuzia question for you. Do you think you invested a lot of time studying everything about trading and you deserve to be rich now?
PS did you see what i just did? :D[/QUOTE]
Lol Yunny… ICT did all the proving for me. All I got to do is point at his 70% drawdown and laugh.
You know, a lot of ICT followers believe that he did good by providing tools and market analysis, sentiments that I can certainly empathise with, but what they tend to forget is that the false persona he created has done significantly more damage to a great number of prospective traders than all the good he did.
Imagine a genuine ICT follower: looking up to this great “millionaire” trader who shares all his concepts freely and is an absolute pleasure to deal with… Then one day he snaps, becomes ultra-egotistical and condescending towards anyone who discredits his theories or background. Then he decides to give everyone a lesson, not by actually trading his methods and coining it, but by purposely losing trades. I mean really, is that for real? Like how would you feel as an ICT follower after experiencing such a dramatic character shift in your mentor, and a badly traded account for which the only explanation you have been given is: I did it on purpose. I daresay you’d be fairly disgusted.
Personally, I forgive the guy of course, but really, what he did has put such a negative spin on forex trading for such a large number of traders who might otherwise have been successes. Perhaps even Ak!
The likely story Bayern is that he was actually trying to trade the account… He took a few losses, realized he could never trade up to the expectations, and then just started blowing up the account so he could say “it was on purpose”.
Well considering that he had a 20% when he hid the account, and then a 38% drawdown in one of his videos later on I doubt that he was trying to do it on purpose. This the approximate result of the ICT trading method trading 3% risk. Most of the myfxbooks I have seen trading the ‘ICT method’ with ‘ICT money management’ show a gradually dwindling account because his method offers no edge (in fact a slightly negative expectancy per trade). It also explains why the followers do not post their live results. Given enough time it would grind most accounts down to 90% loss - in fact in may have already happened to ICT’s account since that has been running for 5 months now.
Damn, so akea really lost $20k? I wonder how many other people lost money? You can’t trust anyone.
If I recall correctly, AK lost most of that money before ICT came along. ICT was his ticket back into the green, but unfortunately it was too good to be true.
The key thoughts I was trying to get accross in my posts on this thread today were:
I don’t think these thoughts are that radical.
Ouch easy killer. Doont give away all my trade secrets
If anyone actually listens to what AK has been preaching will tell you that he lost in trading.
Just think about this he comes on here to tell everyone that they should stay off forums to be successful yet didnt he learn how to be a “successful” trader from ICT on a forum. Something just does not add up.
Not sure if you’re agreeing with me or not…lol. I meant trading too. Here’s where he stated his losses:
Hogarste, I do not believe that anyone here is arguing with you about either of those two points.
What you are not seeing however, is that ICT, the real-life person (whoever that really is), has not admitted his failure with the myfxbook account and continues to string along followers into believing that he is a multi-millionaire trader. Like I said previously, I have forgiven him completely, but the fact that he isn’t owning up to the reality of the situation is particularly disconcerting for me. If he came back here and admitted to making exaggerations in terms of his personal performance, he would probably restore a great deal of respect in himself, but yet he wants to hang onto that millionaire trader persona so dearly that he would never consider it.
[QUOTE=“BayernMunich;489875”]
Hogarste, I do not believe that anyone here is arguing with you about either of those two points.
What you are not seeing however, is that ICT, the real-life person (whoever that really is), has not admitted his failure with the myfxbook account and continues to string along followers into believing that he is a multi-millionaire trader. Like I said previously, I have forgiven him completely, but the fact that he isn’t owning up to the reality of the situation is particularly disconcerting for me. If he came back here and admitted to making exaggerations in terms of his personal performance, he would probably restore a great deal of respect in himself, but yet he wants to hang onto that millionaire trader persona so dearly that he would never consider it.[/QUOTE]
They are arguing this. Even tho they use it themselves lol. ICT isn’t profitable his methods aren’t profitable but they’re gonna trade them anyway. Did you not read the post jack put up? His tools don’t give an edge.
Fibonacci retracements are so ridiculously generic that one cannot attribute them to ICT in any event. So I don’t think anyone here is arguing on the usefulness of fibonacci levels.
Any tool can give someone an edge, but the way in which one is required to package together the ICT tools is probably the number one reason why no one can truly extract an edge from them. Unfortunately, ICT never provided a set method of applying the tools, and so what works one day is not always going to work the next. What, pray tell, is your trading “edge” if there is no consistency in the manner in which you apply the tools? It all comes down to purely subjective decision-making.
[QUOTE=“BayernMunich;489881”]
Fibonacci retracements are so ridiculously generic that one cannot attribute them to ICT in any event. So I don’t think anyone here is arguing on the usefulness of fibonacci levels.
Any tool can give someone an edge, but the way in which one is required to package together the ICT tools is probably the number one reason why no one can truly extract an edge from them. Unfortunately, ICT never provided a set method of applying the tools, and so what works one day is not always going to work the next. What, pray tell, is your trading “edge” if there is no consistency in the manner in which you apply the tools? It all comes down to purely subjective decision-making.[/QUOTE]
People make it more complicated than it is. I can’t think of 100 ways to combine the tools. Doesn’t mean I need to use them all. And you’re right what works one day won’t the next and if that’s your “edge” you don’t trade that day. You don’t trade until it comes up again. But bayern his tools don’t give and edge and he did give a system. Haven’t you been reading?
My dear sir, as much as I appreciate your sentiments, I cannot make sense of what you are trying to say there. Perhaps you should revisit that post my friend.
Look, I firmly believe that trading using ICT-endorsed tools is far more treacherous than any of his followers will admit. Anyone else who feels that way is certainly entitled to that view, in the same way that you are entitled to your view that the tools are magnificently easy to apply and profit from. Some of the guys in that millionaire thread have literally never made a loss using ICT tools.
Unfortunately for those guys though, Mr ICT did actually make a few profitable trades on his account, which, by his own reverse psychology, means that sometimes you do make a loss using the techniques. Who would’ve thought??