Inner Circle Trader's 5k To 1mil - Live Trading Tracking Thread

[Tassiefx]

Sounds simple enough, but if it were that way, there would be many more people making money in forex. A method can produce both winners and losers in forex. If you have the same method, but a different risk management, different trade management, you can go from hero to zero very quickly.

I think that even if ICT were to map out exactly what he was trading - he has multiple concepts - people would blindly follow, and most of those would quite possibly fail as they are so focussed on ICT’s entry and not necessarily the whole package, being entry, management and risk. A persons psychology is also very important to help manage that trade.

As ICT, and many others have said before, the 3 M’s. Mind, Method and Management

And as far as critics disappearing. That will not happen, even if ICT turned this into a million in one year. Haters just hate - no reason behind it, so they will just pick anything they find - even down to spelling in the end.

[system]

I do silly. :34:

A large portion will be equally divided to three of my favorite charities with this account. Do your homework for effective Trolling Mr. Puppet

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Kind hearted person…so if he is so kind hearted why not just make the money in forex and give it out to charity or something if he so kind hearted.

[Banker928]

You are entitled to your views and no one should criticise you for them. I trade my own way, my own strategies that work for me and fit my life but I do follow ICTs methods to learn new things and that I have. Did you know 80% of the time, the high or low is made on a Monday or Tuesday for GBP and EUR USD pairs? Well, I tested this and found out that 95% of the time, the high or low is made by Wednesday as well. Do you know just how powerful this one nugget is and I picked this up from ICT and verified it myself. That in itself is priceless.

So how do you know whether its going to be Monday, Tuesday, or Wednesday…? And which of the two is going to occur… A high or a low… And the scale of magnitude of the high or low…???

[mastergunner99]

You are entitled to your views and no one should criticise you for them. I trade my own way, my own strategies that work for me and fit my life but I do follow ICTs methods to learn new things and that I have. Did you know 80% of the time, the high or low is made on a Monday or Tuesday for GBP and EUR USD pairs? Well, I tested this and found out that 95% of the time, the high or low is made by Wednesday as well. Do you know just how powerful this one nugget is and I picked this up from ICT and verified it myself. That in itself is priceless.

The high of what?

[IyaJenkei]

@"Banker928"

So how do you know whether its going to be Monday, Tuesday, or Wednesday…? And which of the two is going to occur… A high or a low… And the scale of magnitude of the high or low…???

I’d say if market structure and flow is bearish the probability is a high forming and should be backed up with support and resistance.

Here’s some fundementals. COT shows commercials net short and it was at a resistance price. So why should I bother with all those reports? Also turtle soup.

[IyaJenkei]

Because the commercials are reading the reports and COT is lagging lol… It’s like playing “follow the leader” by watching a time delayed recording of what the leader did

So you pick highs and lows by reading those reports? If they’re reading them and I can see what they’re doing I don’t see much point in wasting my time. Now that said I would like you to start a thread :-D. I would like to learn even if I don’t use the info daily I still think it would be interesting and useful. Id also like to point out I was pretty darn close to the high lol.

[Banker928]

So you pick highs and lows by reading those reports? If they’re reading them and I can see what they’re doing I don’t see much point in wasting my time. Now that said I would like you to start a thread :-D. I would like to learn even if I don’t use the info daily I still think it would be interesting and useful.

Case in point I made 50 pips in two minutes (literally the trade was open for only 2 minutes) this afternoon today trading NZ CPI release and 65 pips trading Aussies employment figures yesterday… News, reports, politics is what determines price moves. Without those for context you don’t know whether a high is being made that will fade or if its a breakout for more highs

[IyaJenkei]

Case in point I made 50 pips in two minutes this afternoon today trading NZ CPI release and 65 trading Aussies employment figures yesterday… News, reports, politics is what determines price moves. End of story.

But where it moves to is determined by people. And people are habitual.

EDIT: I did just have a thought. Say they increase they’re inflation estimates by 1.86% does that translate to a certain amount versus the other currency. Can you figure out where it’s gonna go or just that it’ll go up or down?

[Banker928]

But where it moves to is determined by people. And people are habitual.

Yeh… We agree on that.

[Banker928]

EDIT: I did just have a thought. Say they increase they’re inflation estimates by 1.86% does that translate to a certain amount versus the other currency. Can you figure out where it’s gonna go or just that it’ll go up or down?

You compare the inflation forecasts and actual released numbers to what the central banks explicit targets are and any indirect concerns they express about the inflation rate in statements and speeches… That’s what commercials do and that’s why it moves markets.

If inflation is coming in low, central banks loosen monetary policy to get it up, they do this typically by lowering interest rates… Inflation is a leading indicator to monetary policy… There are clever ways to predict the direction of a inflation release before its released… But you have to read reports

[Master_Tang]

Alright… Lets make a performance tracker for this challenge.

Assumption 1: starting capital is $5000
Assumption 2: ending capital is $1000000
Assumption 3: duration is 36 months
Assumption 4: for sake of simplifying lets say winnings are going to compound monthly

The monthly compounded interest to reach this goal is 16.345%

14.808171% is the number I get. It breaks down into actual numbers like this:

1 : $5,792.78
2 : $6,711.27
3 : $7,775.39
4 : $9,008.24
5 : $10,436.56
6 : $12,091.35
7 : $14,008.52
8 : $16,229.68
9 : $18,803.01
10 : $21,784.37
11 : $25,238.43
12 : $29,240.17
13 : $33,876.41
14 : $39,247.77
15 : $45,470.79
16 : $52,680.51
17 : $61,033.39
18 : $70,710.67
19 : $81,922.36
20 : $94,911.75
21 : $109,960.7
22 : $127,395.76
23 : $147,595.29
24 : $170,997.59
25 : $198,110.5
26 : $229,522.36
27 : $265,914.79
28 : $308,077.51
29 : $356,925.44
30 : $413,518.56
31 : $479,084.92
32 : $555,047.31
33 : $643,054.09
34 : $745,014.98
35 : $863,142.51
36 : $1,000,000.02

Sorry about the two cents. I didn’t want to add another decimal.

It’s 3.4011683 weekly.

That’s a rather pedestrian, and an attainable goal IMHO. The trick is always not to try to force it if the week is a little short. Take what the market gives, and move on:)

Here’s the first 20 weeks:

1 : $5,172.73
2 : $5,351.43
3 : $5,536.31
4 : $5,727.57
5 : $5,925.44
6 : $6,130.15
7 : $6,341.92
8 : $6,561.02
9 : $6,787.68
10 : $7,022.17
11 : $7,264.77
12 : $7,515.74
13 : $7,775.39
14 : $8,044.01
15 : $8,321.9
16 : $8,609.4
17 : $8,906.83
18 : $9,214.53
19 : $9,532.86
20 : $9,862.2

[jwlee7ucla]

Good morning folks!

The Fiber trade I took last night was stopped at the 1.3315 level. As some have hinted at… did I take the trade to throw copiers off my back… the answer is no. I won’t do anything my tools do not suggest as probable.

The trade while a net loss as a Trader isn’t what I aimed for, the Mentor in me has opportunity to utilize Risk Management. So it’s a good thing for those watching to be reminded I do lose on trades. It will also showcase the need to focus on the process of following your method and submit to losses and trade through them.

The reasons for taking the trade was due the USDX having an untested resistance level in 80.10 of which I thought would be tested into NYO today. Thus providing weight to the Fiber and likely lower prices… into a NYO Reversal. This didn’t materialize and the stop was triggered and Trade resulted in a small loss.

Will ICT bounce back for this… certainly. As the risk was less than 1% of the equity I set aside for the account. Recall the first… yes very first video… you don’t need a lot to do well. This is just a starting point of a journey… and a loss among many that will arise. The wins and risk reduction will overcome the drawdown and you will see examples to refer to here.

Next trade please… :57:

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Hey ICT, since you said you will use $5,000 but is only trading with $2,000… and your risk calculations is different from the MyFxbook values, can you shed some light into how you calculate your risks so that we can follow along?

This could be 2 separate trades in the same day, two trades at the same time, two losses in a row, etc.

I just want the math to match and I’m getting confused man.

[Tassiefx]

He would be calculating risk manually as if he had the $5k account. A lot of people do that so not al their money is tied up in an account that can one day go bust. It is unlikely, but it has happened and there are enough people around these forums that have been stung by one that went belly up last year.

I for one would agree with only having what you need in the account, and not your entire actual account. The rest of it can sit in an interest bearing account on call at any time to bring up tot he trading account if drawdown requires it to be so

[Banker928]

14.808171% is the number I get. It breaks down into actual numbers like this:

1 : $5,792.78
2 : $6,711.27
3 : $7,775.39
4 : $9,008.24
5 : $10,436.56
6 : $12,091.35
7 : $14,008.52
8 : $16,229.68
9 : $18,803.01
10 : $21,784.37
11 : $25,238.43
12 : $29,240.17
13 : $33,876.41
14 : $39,247.77
15 : $45,470.79
16 : $52,680.51
17 : $61,033.39
18 : $70,710.67
19 : $81,922.36
20 : $94,911.75
21 : $109,960.7
22 : $127,395.76
23 : $147,595.29
24 : $170,997.59
25 : $198,110.5
26 : $229,522.36
27 : $265,914.79
28 : $308,077.51
29 : $356,925.44
30 : $413,518.56
31 : $479,084.92
32 : $555,047.31
33 : $643,054.09
34 : $745,014.98
35 : $863,142.51
36 : $1,000,000.02

Sorry about the two cents. I didn’t want to add another decimal.

It’s 3.4011683 weekly.

That’s a rather pedestrian, and an attainable goal IMHO. The trick is always not to try to force it if the week is a little short. Take what the market gives, and move on:)

Here’s the first 20 weeks:

1 : $5,172.73
2 : $5,351.43
3 : $5,536.31
4 : $5,727.57
5 : $5,925.44
6 : $6,130.15
7 : $6,341.92
8 : $6,561.02
9 : $6,787.68
10 : $7,022.17
11 : $7,264.77
12 : $7,515.74
13 : $7,775.39
14 : $8,044.01
15 : $8,321.9
16 : $8,609.4
17 : $8,906.83
18 : $9,214.53
19 : $9,532.86
20 : $9,862.2

The difference it appears is that you add the interest (profit) at the beginning of your first month where I add it to the beginning of the second…

My first month is $5000…

With that its 16% and change

[Master_Tang]

The difference it appears is that you add the interest (profit) at the beginning of your first month where I add it to the beginning of the second…

My first month is $5000…

With that its 16% and change

That would be the END of the first month, not the beginning.

Start with 5k, and at the end of the first month you have that total. Just like at the end of the 36th month you have 1,000,002.

Look at week 4 on the weekly. The total isn’t exact, but corresponds.

[Banker928]

That would be the END of the first month, not the beginning.

Start with 5k, and at the end of the first month you have that total. Just like at the end of the 36th month you have 1,000,002.

Look at week 4 on the weekly. The total isn’t exact, but corresponds.

Yeh you got it…

[akeakamai]

That would be the END of the first month, not the beginning.

Start with 5k, and at the end of the first month you have that total. Just like at the end of the 36th month you have 1,000,002.

Look at week 4 on the weekly. The total isn’t exact, but corresponds.

Don’t forget about the TAXman :42:

Adds a whole new dimension to the compounding scheme… which means your guys’ figures will need some adjusting…

[Master_Tang]

Don’t forget about the TAXman :42:

Adds a whole new dimension to the compounding scheme… which means your guys’ figures will need some adjusting…

It all depends on how he does his taxes. But the taxes don’t have to come out of this account. The broker will send him a note to say how much he’s made. It’s up to him to take it out of this, or pay it from elsewhere.

A good accountant can leave this account alone the whole time;)

[dan82au]

Perhaps putting this thread in the trade journal section may be more appropriate.

[PureMuscle]

I agree with that concept, but when the guy says he has millions, but can’t move 5k into the account, it naturally makes me question if he could afford to do it at all.

3k in an interest bearing account over three years is not obtaining any impressive gain, I’m fact it might buy a family trip to McDonalds at best. He might as well just have put in $500 if we apply your logic.

The most reasonable explanation given the facts presented is that he couldn’t afford to put in the 5k.

Hmmm, I was also wondering why he hasn’t put in the other 3k… In his video he said that it would be deposited a while back, so the guys are just speculating about him using a 2k account with risk based on 5k - I don’t recall him mentioning that. Maybe he did a wire transfer and it’s just taking ages to reflect… OANDA did that to me once…