Had a shocking trade on Monday which resulted in a 1.5% loss on the account. Upon review later that evening I couldn’t have been so off the mark! I went long into the intended down move after the Judas swing up after getting my bias wrong with an OTE entry. I had the initial move up marked as a long and so when the Judas started to retrace, I thought this was another opportunity to get in on the trade!
What was even more pathetic was I then reversed my position and got back 1% which would have been great, however I was at double my risk on the first trade and had no idea why I was reversing it!
It was my first demo loss so I obviously need to learn to control that! The point of demo, I suppose but still really gutted me that I reacted that way, when I thought I had been being patient waiting for a trade. Guess seeing what I thought was a missed opportunity was the catalyst. Lets see if I can improve on that!!
Today I was watching the Fiber with @ limit sell @ 1.2990 & the Cable with a limit sell @ 1.6272 both during LC which didn’t get filled which was disappointing seeing as they really went south. I in hindsight should have placed the limits at the major resistence levels that were there as opposed to wanting the sweet spots I was watching.
Anyway I’ve resisted looking to get straight back in and I’ve marked some areas for tomorrow where I’m hoping to get short but I’ll re-look tomorrow morning after the Asia session.
Really I just wanted to point out my embarrassment of myself and invite the ridicule! :34:
Glad to see some of you other guys on the right side and making some nice pips.
One thing ICT always emphasizes is to take risk off the table asap to manage a trader’s psychology. By scaling out of trades we do just that, and it gives us the ability to further hold onto our final objectives. No doubt we may get stopped out at breakeven sometimes and miss the days move, but well, a profit is always a profit
hope that answers your question, my english isnt that great so i suck at explaining lol…
Looks like you’ve got it right, I think the issue you have here is that old ‘trying too hard’ thing, the reason I would not have entered in your circles is timing, quiet time of the day, it’s just not in the market to move enough for you to have a trade.
As I’m come to realise over the last few weeks, timing isn’t important it’s absolutely critical.
I see there was a lovely Stoch Spring setup earlier on the EUR and the GBP, clear ones too.
BUT, look at the Daily Chart, Stoch Spring developing, and it’s heading for OTE, don’t know yet what it’s like on the Daily Chart, but it’s interesting to say the least.
Ok, I’d like to make a point here, this indicator I’ve only been using for a couple of weeks or so, it is based on ICT - how to use indicators and stuff I studied a while back, so with that experience I came up with the idea of this particular one, it’s on the default setting I use, i.e. 21, and then the HTF multiple for the next timeframe.
But what you need to do is obverse how it behaves, look at previous setups on your chart, understand how an oscillator works, then you might want to use your own settings to suit your trading plan.
More oversold confluence on the 15m and I might just go long, the 1HR is well oversold, so we might see a bit of a rally from this 2850 level.
So my reasons for selling is bearish market flow over 15m, 1h,4, and daily and its in an upper range in weekly and monthly…
its in a ‘secondary’ OTE, and bearish divergence (trend following? ) in Williams %R, and allmost in sell zone Pivot
Was definitely very tempted on GBP, wish I had! OTE within the asian range, short from 1.6195. Oh well, cant win 'em all
To be honest I was waiting for price to move higher before I jumped in for a short, but I guess the OTE within the large asian range was a good enough sign.
I was actually short of GBP, on the OTE asian range, had it open for a bit and closed it with a tiny profit as I chickened out. Looking at it now, I wish I was more confident.
At least this already boosts my confidence a little.
Adding Positions to my Cable Short from Yesterday…
We turned market structure bearish as noted by 6180 and 6160 levels being taken out. We had a large Asian Range with a pull back into OTE within this range during LO KillZone. I waited for another OTE on the 5M Chart to get my entry short at 6190.
Hi, im new here but i would like to welcome fellow traders in this thread. In reply to changing the market structure into bearish, it might be a false attempt, USDx index in very sensitive area, might be close for another short, therefore fiber and cable might rally (the low on fiber looks like stops attack), hence i would wait. Although, in short time perspective im short on cable from 1.62.
Hey PPFX - downloaded your indi yesterday - very impressive - only ever liked stoch 10,3,3 and only on divergences, but your indi really sets it on fire.
Many thanks for sharing.
AK, Listed in the screenshots are possible places I am looking to exit if we ever get there. I used point A to B to get my projection levels and used Daily fractals for possible turning points. Then we have HTF OTE from July’s low to current high which is nesting with the large range and army of daily fractals.
I am trying to only do long term trading, with short term trading on any pull backs. So I opened my position at 6260 and will hold this for long term. I then took a trade today and only held it for the daily range, closing it at 1500 GMT. I will keep doing this as long as we keep heading down. I opened 2% position on the first entry, then another 2% on my day trade.
I am working really hard at trying to project possible exit levels in my trading. As of right now I suck at it and I know I need a lot of work in this department. Also need a lot of work in determining Long Term trades. Hopefully ICT’s new course will help with all of this.
Just entered Short at 6180 on Cable…lets see if this Asian KillZone will treat me good tonight…
I like these Asian KillZone trades when we pull all the way back into OTE from the daily high to daily low
We have Institutional Level 80, a previous Day’s Low, previous AR Low, OTE, Stoch Diverging with Price, Asian KillZone, and many other factors that I like about this trade…
