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

[Tassiefx]

To be honest, I wouldn’t bother with comparisons.

The idea is to make money to be comfortable with what [B]you [/B]want to do in life. When you get to having to beat everyone else, the ego will be your downfall. Personally, I’d just be happy to make consistently successful trades, that, over a period of time, can assist me in compounding my account level to the stage where I no longer have to work full time and can devote my time to family, forex, and other ventures/interests. If someone does it better than me, good luck to them.

[mastergunner99]

MG in your opinion you think your better trader than Michael?

We have two different styles of trading all together. It wouldn’t be fair to say I’m a better trader as that is entirely subjective on so many fronts.

I believe him to be a profitable trader, just not to the extent of the hype.

Plus, I feel he can appreciate the competitive nature of him wanting to beat me and me wanting to beat him.

[akeakamai]

Aaron said this challenge was all about me. I was at least expecting to see a rule to beat me and my 28.77% gain for the year.

The 16% monthly is the part that is for you, and people like you (skeptical). 16% must be “too much” to achieve every month, correct?

Because that is all that is required to complete the challenge in the allotted time…

[mac0904]

Thanks for detailing your trading plan…I find it very informative. I have a couple of questions

Having only one open position at a time:
Does this include risk free trades (already at BE)? Do you have this rule because of the high correlation between the currency pairs you mentioned or for some other reason?

Risk per trade of 3%:
Since you reduce risk after losses, your average risk will be lower than 3%. For example 50% of trades at 3%, 25% at 1.5% and 25% at 0.75% will produce an average risk of 2%. Shouldn’t this be factored into the targets?
Also, compared to this approach are there any disadvantages of keeping the risk percentage fixed (e.g. 3%) but recalculating the risk amount after a fixed percentage change in the balance (e.g. change of 5%) or at the end of each month.

$ per pip and pip goals:
In case the $ per pip changes (due to lower risk or different SL) the pip goals would also need to be recalculated. Are the $ per pip values for illustration only as they might conflict with risk requirements?

Risk to Reward:
Is there a target risk to reward ratio? Do you consider that a static R:R target might adversely affect trade management?

Good luck with your trading!

I would like to see more posts like this (with some responses from ICT of course, haha).

Isn’t the point of this thread for us to watch the teacher “do as he says” and ask questions? Seems like the perfect opportunity to ask questions about the methods in real time. Kinda like being in a classroom and raising your hand when you’re in the middle of an assignment - you get to watch in real time what happens if you “take a left or take a right”

[mac0904]

so i’ve been going through some of the basic videos of ICT’s and wanted to get peoples opinion on this chart to see if it accurately reflects the concepts.

i highlighted 2012’s high with a thick red line.
recent swing high with a thick green line
red fib extension from a recent swing low to swing high
yellow fib retracement from current swing low to most recent high

i’m short at 1.3265 from a friday position and i’m aiming for an exit of half my position around 1.343 (23.6% retracement) and the other half at 1.34 (38.2% retracement)

i’m not sure what the rules are on posting charts or if this is even on topic, but i figure someone might be able to provide feedback since i’m trying to use ICT’s concepts.

<img src=“301 Moved Permanently”/>

Michael,

Based on today’s price action, do you think the levels in my chart are accurately drawn? Specifically, the resistance and support levels drawn? I think I used the fib tool incorrectly for extensions, but nonetheless, it seems like there is confluence there at the 1.34 level.

Maybe I need to take into account the 1.343 level that held a couple times in the very recent short term.

[mastergunner99]

The 16% monthly is the part that is for you, and people like you (skeptical). 16% must be “too much” to achieve every month, correct?

Because that is all that is required to complete the challenge in the allotted time…

Yes. On paper everything looks wonderful.

[woolo]

It’s a clash of the dogmatic and the skeptic, in this thread and my mind on the matter.

I’m actually a bit of both. I’ve believed ICT from the start based only on his word that his tools and approach to trading works, and the word of those who claim to have made the tools work for them. I believe he can trade and trade well even though I have not seen it. All based on the word of people I have never met. So there is my dogmatic side, in a way just a blind trust.

I am however skeptical that the 16% or more will be reached as a monthly mean percentage profit over the course of this demonstration. Simply because I have never seen anyone do it before.

I don’t believe it can be done. I am a skeptic but don’t take that to mean I am hoping for failure, It means I have an opinion but am open to change it as evidence is brought to light.

So roll on February, March, April and May. The reality will be seen by anyone who wants to see it, then all the dogmatism and skepticism will be put to rest for the vast majority of us once and for all. It’s going to be epic.

[DeadAsEuro]

myfxbook.com/members/Inner_O_Trader/inner-circle-trader/460735

[OMFX]

All fellow members, it’s too noisy here please be quiet. Silence is golden. Be patience. The “movie” is rolling. Let us watch the “movie” until the end…then you can critique on it all you want.

For those who want to learn and continue to learn about ICT’s teachings, please go to his earlier threads (search using “InnerCircleTrader”).

[mastergunner99]

All fellow members, it’s too noisy here please be quiet. Silence is golden. Be patience. The “movie” is rolling. Let us watch the “movie” until the end…then you can critique on it all you want.

For those who want to learn and continue to learn about ICT’s teachings, please go to his earlier threads (search using “InnerCircleTrader”).

What fun is that.

Shows like the Walking Dead have separate shows dedicated to talking about the episode.

If you’d rather wait three years, then check back here at that time.

[peterma]

All fellow members, it’s too noisy here please be quiet. Silence is golden. Be patience. The “movie” is rolling. Let us watch the “movie” until the end…then you can critique on it all you want.

For those who want to learn and continue to learn about ICT’s teachings, please go to his earlier threads (search using “InnerCircleTrader”).

Or the ‘live’ PTC’ thread - we swap ideas, thoughts - all ICT based - much success last week - more to come this week.

Even today some good ote trades.

[Kenp240]

Aaron said this challenge was all about me. I was at least expecting to see a rule to beat me and my 28.77% gain for the year.

I’m no ICT sychophant and therefore given your cynicsm of ICT and his approach I would be interested to see the trades you took to achieve 28.77% return for the year - is this since Jan 1 2013? Also it would be good to understand your trading plan for 2013. Otherwise it really does seem to be empty vessels making most noise.

[mastergunner99]

I’m no ICT sychophant and therefore given your cynicsm of ICT and his approach I would be interested to see the trades you took to achieve 28.77% return for the year - is this since Jan 1 2013? Also it would be good to understand your trading plan for 2013. Otherwise it really does seem to be empty vessels making most noise.

I can hold trades for weeks on end. I just closed on yesterday that I held for 24 days. About half of those gains were opened last month and there was two trades opened at the end of November.

I don’t have a detailed trading plan. I have a methodology that I use that allows for the flexibility the market can bring through its volatility.

Feel free to dismiss any gains I mention. If I feel like it at some point, I might provide a screen shot, but I’m hardly ever sitting at my desktop.

[Kenp240]

I can hold trades for weeks on end. I just closed on yesterday that I held for 24 days. About half of those gains were opened last month and there was two trades opened at the end of November.

I don’t have a detailed trading plan. I have a methodology that I use that allows for the flexibility the market can bring through its volatility.

Feel free to dismiss any gains I mention. If I feel like it at some point, I might provide a screen shot, but I’m hardly ever sitting at my desktop.

Obviously, given you have no trading plan - we won’t be seeing that. Does that mean you won’t be showing us the actual trades that gave you your 28.7% return? Again was that since Jan 1 2013?

Given you are hardly at your desktop - I appreciate that you’ve taken time to answer my questions.

[Toekan]

@Kenp240

Obviously, given you have no trading plan - we won’t be seeing that. Does that mean you won’t be showing us the actual trades that gave you your 28.7% return? Again was that since Jan 1 2013?

Given you are hardly at your desktop - I appreciate that you’ve taken time to answer my questions.

Someone is jumping conclusions here… How would such a plan work? I plan to make $250k in Oct? I will trade in such a manner that I make 1235 pips in Oct. to achieve that?

Sticking to his methodology during 2013, when continues to be profitable, sounds enough for me.

Actually on my new strategy account I am up 48% ytd, so I think Gunner is slacking a bit… It can be down 30% tomorrow, but that is where it is now…

Before all call me fake:

[mastergunner99]

Obviously, given you have no trading plan - we won’t be seeing that. Does that mean you won’t be showing us the actual trades that gave you your 28.7% return? Again was that since Jan 1 2013?

Given you are hardly at your desktop - I appreciate that you’ve taken time to answer my questions.

You never used the magic word. You need to see my trades, more than I need to show them to you. I see your incentive. Where’s mine?

Yes, those are all closed trades since the beginning of this year, however not all the trades were opened this year.

In relation to the desktop, you might want to explore the Babypips application available for both Android and iPhone.

[northerntouch101]

Aaron said this challenge was all about me. I was at least expecting to see a rule to beat me and my 28.77% gain for the year.

Trades opened in October - December don’t count as that is not “gain for the year”, that is “gains from 3 months ago”. How about you use trades opened since January 1st when comparing yourself…

[Hogarste]

You never used the magic word. You need to see my trades, more than I need to show them to you. I see your incentive. Where’s mine?

Yes, those are all closed trades since the beginning of this year, however not all the trades were opened this year.

In relation to the desktop, you might want to explore the Babypips application available for both Android and iPhone.

I believe you mentioned Tuesday as the day you were going to start sharing more trading details. I believe that there are many truths in trading not just one, and am certainly looking forward to anything you decide to share.

[mastergunner99]

Trades opened in October - December don’t count as that is not “gain for the year”, that is “gains from 3 months ago”. How about you use trades opened since January 1st when comparing yourself…

Actually they do count as that was when the profit was realized.

But nonetheless, I would attribute about 10 percent of those gains were from trades in the prior year.

And no worries, your Mentor encouraged me to use those numbers.

[mastergunner99]

I believe you mentioned Tuesday as the day you were going to start sharing more trading details. I believe that there are many truths in trading not just one, and am certainly looking forward to anything you decide to share.

That thread will not be serving as a signal service. I will be explaining my trading methodology. I don’t anticipate calling out trades I take unless it somehow is fitting for the discussion.