I wouldn’t read too much in to that really. Some people will watch the videos but not subscribe, some will get links from here, some from twitter. Some have just not found this thread yet.
Also - it takes a long time to learn these concepts and people as you say want something that trades automatically for them and maybe don’t want to put the effort in.
Well, I remember when I first started to look in to forex trading. I actually stumbled across ICT at a pretty early stage but, and I’m not proud of this, I did not actually like his videos that much… And let me tell you why!
When you’re a complet forex newbie, you are usually lured into tradig because of all the “super indicators” that will make you a 1000% return in a year, if you just buy when two lines cross! And to be honest, I personally thought that trading was just about finding the right indicator! Again, not proud of it…
So, when I watched one of ICT’s videos, I remember thinking, “trading doesn’t have to be this complicated? Why is this guy making it sound so hard?!” So, I stopped watching his videos, and started looking for that “magic” indicator…
I think that’s the reason he doesn’t have more followers on Youtube. People are generally looking for some magic, easy way of trading, and that is not what ICT teaches 
To be able to trade like he does, you actually have to understand what is going on, and I think to many new traders, that just seems too hard…
But I’m happy to say that I’m back on the ICT-wagon, and enjoying it more than ever!!
Dukascopy is a swiss bank and broker many speak well of. Don’t know the situation with US citizens, could send a quick email to the bank at <[email protected]>, or the european subsidiary at <[email protected]>. They have smartphone platform, i used their iphone app for a while, was great, sms service and alerts.
I decided to start a video journal this week. Mainly for review at the end of week to see how price unfolds compared to my plan and to look for any technical analysis mistakes or misses after the dust settles.
Also looking for feedback as well before the show starts.
Looking for 1 trade this week.
2 outcomes - unfolds and I am sitting in pips Friday or it does not go as planned which means no trade.
Still learning and watching the videos over and over, I always pick up something new every day.
i too, am not proud of it, but sadly i can relate! but actually i don’t really care if ict has not as many followers. first: it’s called “inncer circle” for a reason, these concepts should not be for the “stupid” mass, but for the elite (not supposed to sound bigheaded, just don’t know the right words for another description). second and more important: if his methods would be TOO widespread (i mean in a very extreme case, where 50% of all traders in the world know and use the methods), it would be somewhat selfdestructive at some point for all of us. it is not a real market anomaly, but let’s call it like that for a moment, because the market seems to be inefficient using ict’s methods (because you are able to generate excess returns). then this inefficiency would disappear and nobody would be able to make serious money. so, i personally would prefer this thread and icts teachings to be as “secret” as possible 
looking for something similar. first i’ll be looking for longs on fiber up monday/tuesday to the 1.3020 level maybe forming the weekly high. then i’ll be looking for bearish action at OTE.
i’m more comfortable with my long bias for the beginning of the week though. so i will be looking at the action at 1.3020 really close and won’t jump into a short, because my macro bias is still long
edit: just wrote out a trading plan today (ya, i know. but better late than never ;)). let’s see if it will help me the upcomming week and keep me out of stupid trades and help me being not too impatient.
have a good one everybody
Right at the beginning of this video ICT gives us specific advice about ‘bias’.
It had the opposite on me. I’d been looking at indicator based strategies and couldn’t for the life of me understand how they worked and why they worked so I didn’t feel comfortable trading them. Then I found the ICT thread and this helped me to understand why price moved and how it moved, thus giving me the confidence to anticipate a move and actually trade it.
Trading something you don’t understand is a sure way of losing money. Even understanding the concepts does not guarantee profits as you then need to have the mental ability to manage risk and money to ensure the concepts are profitable.
I know Michael has mentioned this before but he shares the concepts as he knows that not everyone will follow the plan. Therefore he isn’t worried the concepts will stop working.
You need to have the patience to succeed, I’m not successful yet, so I’m not pretending to be, but if it takes 2-3 years to understand and trade consistently, a lot of the students will have given up before this time and will end becoming the money we take from the market.
I think he said he could put the plan with instructions on the front page of America Online and many would simply dismiss it.
I have a fun theory about bad systems with X indicator doing Y thing and why millions believe in them in trading.
There is a cool psychological trait we experience called Pareidolia. It allows our brains to see things that are not actually there, we imagine and convince ourselves there is meaning and purpose behind random patterns.
Pareidolia - Wikipedia, the free encyclopedia
Fun examples where you see faces:
50 Things That Look Like Faces - Pareidolia | Geekosystem
I would argue that this is partly why charting is so hard. We naturally trick ourselves to see repeating patterns where there are none. Thats why people can so easily be pulled in to any random indicator cross/bounce/pattern, If they have been told that it occurs frequently and works 100% of the time.
So when they look on their charts they see what they have been told to see. It’s human nature it does not mean those people are stupid or foolish, they just have trusted that person’s statement of their systems worth and their brain has taken care of the rest.
Thats why bad systems can bankrupt accounts because people put their faith into this little none existent pattern that their brains are telling them is there controlling the market but in reality is not.
You can see this by plotting any moving average on any time frame. Lets say a 27 EMA on a 30min chart. This moving average will see bounces and will act as S&R on multiple occasions. If you were new to the game and I told you I was a professional trader with Barclays and that we always trade using bounces on the 27 EMA on 30min charts and you believed it. You would reasonably go to your chart and you would see those bounces. That pattern and it’s bounces off the average are staring you right in the face. Then your brain sets to work and boom those patterns are everywhere your trading them and loosing money but you keep going and going because you can see that pattern repeating so clearly and your losses are just that 1% of losses you’ll have that year but coming all at once.
You could get the same effect with any moving average on any time frame.
It’s pretty much why I was skeptic of ICT when I first found these threads because anyone can claim to find patterns that repeat.(And they do just have a browse of Forex factory) I was skeptic at first too because every other person I had encountered on forums was either deluding themselves or out to sell a product.
Anyone can make stuff up even on a naked price chart, try showing your friend who has never traded or seen a chart in their life and after 2 minutes they will be very sure they know where price is going next.
However over time I’ve become convinced. This stuff is legit and ICT’s approach to training is not based on pareidolia, these patterns are based on what controls/creates the markets price action. All the patterns taught; SMT, OTE, stop hunts, structure breaks all have explanations involving the money and people that move the markets. So thats why i’m sticking around because this stuff works and ICT is not a charlatan.
Exactly my point. There was a theory behind the results. Usually there is no follow through with why other systems work.
Woah! Where can you find the charts showing that retail traders information in damagecontrol90’s video? Thats really cool.
Edit: Never mind found it on Oanda
Hi Woolo
I have not come across that term before, so thank you for pointing that out.
I would agree that for some reason, humans are hardwired (some more so than others) to find patterns in random behaviour.
however, it is also true that certain patterns at certain levels and/or at certain times of day are significant and do clearly show market behaviour, that is tradeable
for example this manipulation at the Asia los, during LO on 6 Dec
a recognisable pattern a certain level at a certain time of day, that indicates price is highly likely to move up
Also, there are some moving averages that are so widely used - eg 50 and 200 that the market often responds to them
However without understanding what drives the market and why price does what it does when it does, such knowledge is of little use
I do use moving averages and indicators, but I pay far more attention to market structure, price levels, correlated pairs, USDX, time of day, day of week, upcoming news etc than any indicator
Also the reality is that new traders - and even some older ones, just want an indicator/arrow that tells them to buy or sell. Look at the never ending stream of products that jam your inbox; they would not be produced if there was not a market for them.
ICT concepts and tools provide a consistent methodology to make money from the market; there are other ways to make money once you understand what drives it, but without that understanding you will find it difficult and frustrating.
I think we should build a ITL here Monday and have a test of the 1.30 level.
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noob here. Does anyone else see a Market maker BUY profile on Fridays 1H price action? And if so I pulled a Fib from the low to the new STH and wait for price to retrace in to the 62-79% range. My uncontrolled side just wants to buy now! And not wait for price to retrace.
If anyone else is looking for the open orders charts… here they are Historical Open Orders | OANDA fxTrade
Cheers everyone!
About to jump on a flight to Aus from Europe. Apparently on the A380 from Dubai - Sydney they have Wifi. Anyone joined the mile high trading club or will I be a pioneer of ICTs methods from 30000 ft?
If they have then let us know from up there - safe flight.
IbePippin,
I see what you did there! Your Fib has the reflection level set in. Can you share what the proper level is to set it too? I’m not to good at figuring that kind of stuff out yet.
Cheers,
Matt
