Yeah of course he is, but does it remind you of something? You may not have attempted to go live yet I don’t, but for a lot that have, they will see what’s going on, I’ve been there, now here’s a classic going live story.
You’ve been trading demo for a while, you loose money, but you think well, I’ve got a couple of grand I can afford to live without, but I’m pretty sure I can double that, trading demo is waste of time, may as well use proper money.
BANG, you loose two grand quicker than you ever thought possible, you have a sleepless night or two, you really didn’t want to loose that two grand, it will normally take less than 3 months to completely blow your account.
So back to demo, more discipline, more discipline, a few months down the line, it’s time to try again, same thing happens really, just a little more slowly.
it
Then same story more or less, but this time you’re doing ok, so it’s time to add more capital, and then, it all starts going wrong.
So this will happen until you get to the point, where actually you are breaking even, because when it does start going wrong, you stop and protect your capital, many times you will now trade up to your break even point, then possibly loose to some extent, it can be quite tricky to cross over the line, but at this point, you are not loosing money over the long run, and you continue to trade, and eventually you make the leap.
That’s not exactly my story, not far off, but it is a classic stereotype process, and I don;t think I’m far off in that I think ICT is trying to illustrate some of that.
I was curious from the start why add Capital in the second month, but didn’t think much of it, now I think I see why.
Persistence pays.
And homework, do your own work too, build on ICT’s way of analysis, in breaking down the day, I did an exercise last week, and found that a decent swing out of the Asian Range is very likely to sustain a move all day long, it’s not difficult to spot, it’s easy to trade, it’s using the same thing over and over again, it’s happened two days in a row, just as I expected it too, they will work out about 8 or 9 times out of 10 and give you massive pip hauls. I’ve not come across the setup anywhere before, I had the initiative to figure it out for myself, which is the other point ICT is quite clearly making, don;t follow blindly, make your own plan.