Inner Circle Trader's Pro Traders Club 2012 - 2013 Series

[purplepatchforex]

Hi PIPhanger,

If you’re just after price alerts for your phone, you don’t even need an FXCM account to do that. We offer free price and news alerts that you can have sent to your phone from our DailyFX research site.

If you want more sophisticated alerts sent to your phone, such as when RSI crosses 70 on the EUR/USD chart, or when a trendline breaks in GBP/JPY, then these can be set up from our Trading Station Desktop platform.

Sorry guys, didn’t mean to hijack this thread. If you have any follow up questions about this, please feel free to ask me in the Broker Aid Station.

Jason

For the right price, I’ll give seagulls, jst depends how many seagulls you want, but I can promise a good price.

[TommyL]

ICT over the years has talked about these and used them, and as he says himself and as we all should, we develop as traders and more than that through it, as people.

There are many tools there that we can use, but from time to time we realise, that some just aren’t needed, and we use new ones, and with experience we simplify…

A feeler gauge may have worked to sort your points out 20 years ago, but it’s a bit useless now, and things move a lot quicker in Forex.

But now, in his weekly reviews, ICT just talks, major SR and OTE, USDX and trade either EURUSD or GBPUSD or both, no mention of COT etc etc… maybe he uses them, I don’t know, but from the basics you’ll win and get paid, it’s the basics that will get you into profit, the COT, the divergence, the depth of understanding is the cream on top, but in the meantime, what if you’re the journeyman?

I agree, I’m trying to get MS nailed in conjunction with OTE’s first, once I’m profitable this way, then I’ll start to incorporate the rest of the other concepts too with small risk until I understand them, but 75 pips per week every week, means a comfortable lifestyle working from home and quality time with the family like everyone wants.

[mrchilled]

[B]Hey Folks[/B]…
*
This is just a little nudge… to get the wheels turning.* The Demo results are a test on your perspective. What do you see in the results?*
*
Are you disappointed there were so few trades?*
Impressed with zero losses?
Impressed with the amount made in Demo profits?
Disappointed the risk was too thin and “not worth it”?
Expected a higher % return over the trades?
*
*
Post your thoughts… I will give you my feedback and the point I made in this exercise.
*
Until then… as always…
*
[B]GLGT[/B] :57:

It proves what you’ve been preaching to us these years: you don’t need to trade a lot to make it big. Less is more. If you follow your plan meticulously, you’ll do well.

Michael - what I personally struggle with is a few back to back losses and then your whole psychology and confidence changes. And I think it’s this that makes someone succeed or fail. I’m hoping your forexmas modules cover psychology in more detail. Looking forward to it …

[purplepatchforex]

I agree, I’m trying to get MS nailed in conjunction with OTE’s first, once I’m profitable this way, then I’ll start to incorporate the rest of the other concepts too with small risk until I understand them, but 75 pips per week every week, means a comfortable lifestyle working from home and quality time with the family like everyone wants.

Exactly, I’ve nailed MS, I’ve nailed OTE, I’ve nailed the lot, but I still need to use all the nails to nail it!

Quality time is priceless though, for Forex profits I was so skint I had to stop putting milk in my coffee, but NOW, I love black coffee…

In the meantime, I learned to appreciate things more than ever.

And more than anything I’m still alive! (CO and all that)

BUT hey - “I’m still ALIVE”

[jonnycab]

Is that some SMT divergence going on right now? (I know we’re outside core trading hours, but still, we’re at important levels)

USDX - lower highs
Cable - lower lows
Fiber - higher lows

Are we getting ready for another push north? (watching this: Correlation Concepts Inner Circle Traders Smart Money Concepts)

We’re at those key retracement levels, we maintain bullish market structure on the 4H…

I’ll be interested to see how things play out tomorrow…

[mostwantedpips]

Is that some SMT divergence going on right now? (I know we’re outside core trading hours, but still, we’re at important levels)

USDX - lower highs
Cable - lower lows
Fiber - higher lows

Are we getting ready for another push north? (watching this: Correlation Concepts Inner Circle Traders Smart Money Concepts)

We’re at those key retracement levels, we maintain bullish market structure on the 4H…

I’ll be interested to see how things play out tomorrow…

ICT says not to trade on NFP so i will stay out tomorrow! Maybe a good thing

My guess we will have some sort of pull-back tomorrow on gu up to 1.6080 and then i would expect another push lower.
One good reason for this is a retest of that 80 level on usdx i would a little surprised if market does not retest such an important level.
Just my prospective. It will be fun to watch!
Thanks

P,S got a confession to make i was about to open a long during asia kill zone, but after having such a good day decided to stay out and wait and see what will play out. Next week i will aim for 1 shot 1 kill, just worried that it might end up like this week 3 shot 1 kill

[DanglaGT]

How far ahead of time do we really need to avoid NFP? Are we safe taking a scalp at London Open if we find a valid trade or is it best to wait until next week? I know NY Open is out of the question just wondering about London Open.

[IyaJenkei]

How far ahead of time do we really need to avoid NFP? Are we safe taking a scalp at London Open if we find a valid trade or is it best to wait until next week? I know NY Open is out of the question just wondering about London Open.

LO is a position taking time for smart money. I don’t think that would change during NFP. I think the big guys just move more so price gets throw around so hard. And it’s tempting for new traders.

[damagecontrol90]

Large pocket of limit orders tagged at 2950, anticipated from the DEC 4th chart I posted.

I see one more push down to tag 2900, 2820, and then 2800 before heading back to 3120.

[damagecontrol90]

Looking at retail limit orders and technical confluences, I am expecting 1 more push down to 2800 before a reverse back to 3120.

Watching for manipulation today at LOKZ, if the opportunity presents itself, I will short.

If SM manipulation is showing signs of profit release towards the downside like yesterday, I will hold a 20% partial to ride NFP.

I know ICT and students don’t trade NFP Friday, however I see news as a SM excuse to fill their order flows. Also, thinking why would SM reverse today with 2 legs down close to reaching the bulk of limit orders to fill their order flows required to get the buying pressure started. Risking 1/2 of 1%…

Thanks Michael for the tools, I bagged 140 pips this week.

[rod178]

I didn’t, well I didn’t trade anyway, but take these things into consideration, look at all the stuff I posted today.

1st, a good analysis, whatever you may think of if it was wrong or if it was right, the analysis and the thought behind it was valid and thought process along the right lines, if you followed that you would have had profit, it could have been a loss, but it didn’t hit the levels I was expecting.

2nd, we’ve got the 1.3080 level some into play, but for me it’s not a level I’ve been stalking to go short on, so it’s a pass. I know it’s a possibility, with yesterday’s low being broken, but I have my premise and I’m not going to get swayed by events, if would have been swayed by events, I would have had 100 PIPS or something, don’t know, don’t care.

The thing is, if you get swayed by events, you’ll end up on the loosing side more often, today there was a short premise at 1.3080, and it worked out, there will come the day when everyone else will have a different premise to yours, and yours will work out.

What we do know is reacting to levels don’t work in the long term.

Also learn from it, on Sunday I put forward 3 premises for the following couple of days, in an odd kind of way at least both of them are working out, but lets not worry too much about that, the point I’m making is that if I would have had the alternative premise in mind today based on the fact that yesterday’s low had been broken meaning the potential of a Fractal short at a key high resistance, I would have gone short, but since I didn’t have that alternative premise in mind, I didn’t consider the possibility. Chess springs to mind again

So, more homework, be prepared, and if it moves X’thousands of pips after, so what, maybe next time, but don’t react to it, whether you did react or not, made money or lost, it’s only your concern. The most important thing is the right approach.

P.S. to all, In hindsight I should have started going about my Forex project like I had learned about all other projects, I was quite conversant in PRINCE2 at one time.

Some are natural project leaders.
Some can learn.
We can all benefit.

Oh that reminds of 'Where’s my Cheese?"

Who Moved My Cheese? - Wikipedia, the free encyclopedia

I think I’m a scurrier, what are you? What’s PIPhanger?

Meaning to read that book for a long time

Change Happens
-They Keep Moving The Cheese
Anticipate Change
-Get Ready For The Cheese To Move
Monitor Change
-Smell The Cheese Often So You Know When It Is Getting Old
Adapt To Change Quickly
-The Quicker You Let Go Of Old Cheese, The Sooner You Can Enjoy New Cheese
Change
-Move With The Cheese
Enjoy Change!
-Savor The Adventure And Enjoy The Taste Of New Cheese!
Be Ready To Change Quickly And Enjoy It Again
-They Keep Moving The Cheese.

[bteofx]

@PipARush_Petru

“Generally,the market trades from Short Term Lows(STL) to Short Term Highs(STH) back to a new Short Term Low.As these STLs and STHs form they will nest or develop a “Market Structure” of price action.Any STL that has a higher STLs on both sides of it is considered an Intermediate Term Low(ITL).Any STH that has a lower STHs on both sides of it is considered an Intermediate Term High(ITH).”—ICT Core Concept.
I dont see lower STHs on both sides at those ITH`s marked by me with an arrow!

Spot on. That’s not an ITH by definition. You need 2 STH on both sides to get an ITH.

[rod178]

On H4 the Fiber has formed an ITH. However not so on the Daily.

Compare current PA (Fib OTE) with that mid November.

[damagecontrol90]

Manipulation to this resistance would be sweet for a set up to run to 2800 in my opinion.
Just before breaking through yesterday, there was respect for this level.

and zoomed out…

[TopFroxx]

it’s still my opinion that fiber and cable will go up and break the highs this year. also the major push down on fiber yesterday was just because of some bullcrap draghi said, just words, no action. these kind of moves tend to get reversed (if no action is in sight) within 1 or 2 weeks.

[Shaer]

@purplepatchforex

Look at the market profile illustrations and match them up to it, you’ll learn from doing that, and you’re interpretation might be different from mine, and still as valid and possibly more, but the thing is to read to read the chart in that manner, more and more I’m learning that with ICT, the approach is more important than the actual analysis, if you’re approach is right, it’s not so important that your analysis is right, get what I mean? But if your approach is right, your analysis has also a better chance of being right.

Thank you for your explanation, indeed approach is very important. It’s unlocking my view, thanks a lot.
Please Ignore the US Dollar COT data in the chart, I apologize, I could not edit correctly.

It seems to me last few weeks COT data reflecting in the market, what’s your opinion?

[mostwantedpips]

Meaning to read that book for a long time

Change Happens
-They Keep Moving The Cheese
Anticipate Change
-Get Ready For The Cheese To Move
Monitor Change
-Smell The Cheese Often So You Know When It Is Getting Old
Adapt To Change Quickly
-The Quicker You Let Go Of Old Cheese, The Sooner You Can Enjoy New Cheese
Change
-Move With The Cheese
Enjoy Change!
-Savor The Adventure And Enjoy The Taste Of New Cheese!
Be Ready To Change Quickly And Enjoy It Again
-They Keep Moving The Cheese.

I likeeee cheese:D
Yam yam

LOL that post is funny, but true…

[kores]

I’ve nearly forgetted the NFP today. so now I know why price moved so much. it has to cower before it jumps.

[mostwantedpips]

I’ve nearly forgetted the NFP today. so now I know why price moved so much. it has to cower before it jumps.

Drive price lower get the dogs piling in, trap them on the short side and boom to the upside! Perhaps

Looking at USDX that 80.60 level looks too clean so i suspect they will sniff just above it and then slam it down.
One of many probabilities :60:

[system]

[video=youtube_share;VzRh4HCBUHY]http://youtu.be/VzRh4HCBUHY[/video]

[B]GLGT[/B] :57: