CAN SOMEONE please suggest me , if there are any other entry techniques other than OTE (optimal trade entry ) suggested by ICT or if possible other techniques that u guys know off?
Because I am having really hard time to enter into a trade if there is no OTE even if there are good confluenece of SR and levels .
There is in the fractal video in the pro traders series on the first post.
Basically sometimes he says he enters on the five minute structure break in a consolidation. So if heās anticipating that there is going to be a move downwards on the higher timeframe heād enter on the break of the lower time frame consolidation in the direction of the anticipated move.
I quite like this one too because stops are set fairly easily in the same way as the OTE. I canāt use the other entries though like the turtle soup or the reflection because I donāt know how.
Very happy New Year to everyone on the thread. 2012 was a key year for me as a trader, largely thanks to ICT as well as the great folks who post on this thread and are so quick to share information. Safe holidays, and letās go get em in 2013.
Not strictly using ICT techniques, although when I see ICT techniques come into play along with my own āentriesā, itās almost always a winner. It doubles the probability almost.
I have to admit. I took part of ICTās teachings and made it my own. This may seem odd to most of you but I donāt use OTE. The things I use are: market structure, SMT divergence and SUPPORT AND RESISTANCE (my bread+butter).
Keep at it guys. Remember though, you will never ever ever trade like ICT does. We all have our own way of doing things. So take his teachings, add a bit of your own observations, personality if you willā¦ You will see it will do you much better.
Also, focus on something and learn it until you believe you have mastered it, rather than jumping from one thing to the next.
Iām not making much moneyā¦ but I have recently clicked and have become profitable.
Not much in terms of actual money, but 40% since 1st September 2012 on my small account. Iāve been using ICTs material exclusively with this account. This thread (and the now iconic āWhat every new & or aspiring forex trader wants to knowā thread) have been my study ground.
31st August 2013 will be a key date for me (1 full years trading with a live account). Will my account still be profitable? Will my account still be active? If these first 3 months of live trading using ICTs methods are anything to go by, yes will be the answer to both questions. (Note: I was studying and demo trading with these methods for about 4 months prior to going live, so donāt think I just jumped in and became profitable overnight!! There was plenty of pain inside the demo account before it was looking rather healthy! Lots of learning involved as well, it felt like I was back at school!)
Donāt rush, put in the hard work, and things will fall into place. Once they do, youāll be set for the next 5/10/15 yearsā¦ The amount of insight and knowledge regarding market analysis you will have will be impressive and will hold you in good stead for your trading career, be it casual or professionalā¦
I still have a very long way to go, but I can see from studying this material over the past 6-7 months that what little knowledge I have on the subject it is definitely starting to pay off.
Thanks again to all the active contributors in this thread who stimulate and provoke thought as well as provide a lot of great help when discussing this material. For all of those in the same boat as me, learning this material and putting it to the ātestā so to speak, I hope we can continue in the same vein next year! Heres to a profitable 2013
Wishing you a year of health
wealth, happiness luck warmth.
And loads of love of your dear ones
Hope the New Year
showers you with
All that is beautiful
Happy New Year Dear Friends
Not me! Just going to say this to be clear that not everyone here is profitable. I have not made a penny of profit from start to finish using the tools here.
Iām not going to attempt to diagnose why iām not making money or getting the tools to work for me here, but I simply am not.
I am learning stuff here that makes sense. The vast VAST majority of forex information I have read has been utter rubbish. Done Chris Lori, read countless threads of forex factory and here. Done the indicator crosses, done the combinations of different indicators, done S&Rās, done many systems using fibbs. Iāve been at it for years now. Have never understood how to make money.
I have enjoyed these videos though because I do believe that ICT has made money and many of the things he talks about make a lot of logical sense. Market structure and correlated pair divergences for example are really cool ideas. In theory it is a fantastic way of looking at the charts and understanding what the moves mean and identifying if large amounts of money go into the market at any one time. Seriously itās so obvious when you think about it. So yeah ICT is my favourite forex information provider so far hands down. Even though to begin with I thought he may very well just be in it for the attention and be giving nothing of worth in exchange for people time.
I do have one concern though in terms of these threads. Sometimes it does feel like the blind leading the blind. I or anyone else may ask a question and get a very well worded and believable explanation from another user which could easily be wrong. Iāve answered some questions here too, thats worrying!
While ICT is great there are others. There was some dude on forex factory a couple years ago that did some videos that were actually better in terms of explaining S&R levels than ICT from my early perspective. It was basically 5 hours of videos on support and resistance explaining how to mark them and how price can react to them. He went commercial though.
So going back to your question, No iām not making any money real or demo! I am also open to suggestions from anyone here who is doing well what other courses or similar threads to ICTās are worth checking out.
ICT is the man but never put your eggs in one basket as they say. Iām sure that heās not the only real traders giving out valuable knowledge to the masses!
So what Iām asking is does anyone know of any threads be they from any school of trading (Technical, Fundamental, Automated, what ever else) that are worth checking out and worth the time and effort besides ICT in your opinions? I need some further reading but the forums drive me nuts.
I think your post does a good job at further reinforcing the fact that trading is a very personal experience and everyone is going to have different perspectives on things (which is why forums are very much a double edged sword - blind leading the blind?).
As numerous (experienced) traders point out, you need to work out for YOURSELF what works for you. The material ICT presents has really clicked with me and helped me develop my own trading strategy. Discussing it with others on this thread has helped too, sure, there will always be differing opinions but if you stick to your own plan and get it right, then you can help others, equally, you will learn from someone else when youāre on the wrong side of the trade. The discussion helps with post-trade analysis and how you can improve upon it, even if it was a profitable trade. The key point here is to have a plan and stick to it, adapting it were necessary. What was the first video about in the TRADE PLAN Development Series?
Sticking to the material you understand the most and trading only with this limited (correlated) set of tools is a great start, obvious, but so many will miss this, by trying to merge all of the material in here for all of their trades and will end up swamped and confused. By sticking to a limited, correlated subset of tools you will not trade as much, but when all your key elements align, the pip count will be impressive. Once you have that down, why would you even need to change your technique to include more things? This is one thing Iām finding, Iām using maybe 3-4 ICT tools (out of maybe 10-15 that are documented - perhaps peterma has a full list of all of the available ICT tools? ) and should any one of those not align, I wont be entering into any trades. Discipline & Patience, so hard to master
There are quite a few traders on here who are very profitable with their own methods (totally unrelated to any material in this thread), or methods theyāve picked up and adapted from the mentors who taught them.
There is more than one way to skin a cat, but a lot of effort is required no matter whatā¦
Woolo, I agree with Jonny here. Stick to a very limited subset of tools ( my recommendation is that it includes S/R ) and give it a try (think carefully and pick the tools[B] LOGICALLY[/B] ).
Can you post the link to the FF thread about S/R ? Or if its not permitted, PM me the link please.
To those looking for traders making a living with forexā¦you guys realize, this is forum filled with new and aspiring traders??? It is rare for successful traders to hang out here. Why would they?
Ask the same question at the jonathan club.
I have)))