wow looks like cable is a no brainer? uk data is depressing!!!
Iāll not comment on what might or might not have gone wrong with ICT of late - plenty of comment echoing my own thoughts here and its not really relevant to the whole objective of why we are all here which is to become good/profitable traders making good money.
My view is similar to Jonnycab and Iyaās last remarks about learning as much as you can, taking it slowly and finding your own niche as a trader. I trade full time pretty much these days using ICT methods and other techniques (not least fundamental analysis re interest rates and central bank policy statements etc.). Together with some news trading and quick scalping from levels I mark up daily (not recommended by ICT but it suits me as Iām always at my screens) and taking it slowly (not looking for home runs - and sometimes trading low risk ) I can say it works for me - I make consistent money. Its about matching your approach to what the market gives you and not risking too much so that you are always worried as soon as you enter a trade. I take profit at 10 pips and sometimes let them run to a fuller conclusion - depends on my own view of event risk on the day.
In summary if people here are looking for confirmation of whether ICTās stuff works from someone who would not consider himself to be partisan in any way shape or form, then from my perspective I can say it does. However, if I donāt like a set up Iāll not take it. Its about being flexible. And that is critical. Make up your own mind. Once you get used to doing that, trading becomes fun and worthwhile as a profession. If all you do is follow blindly - I dont think it will ever work out.
I realise that this type of āwhats bestā debate can run and run but slow and steady based on sound principles (such as many of ICTās teaching BUT augmented with other good stuff) is my take on how to become profitable and contented with your trading.
Hope this adds positively to this thread.
I just like throwing ideas out lol. And sometimes just to go against the grain.
That fits my thinking tho, how Iāve always thought. Itās not about being born to do something itās about working your butt off to do something. Natural talent will only take you so far, at some point you will have to put in time. Although I do believe in exceptions to every rule and I do not believe there are any absolutes in he universe.
I just find it fun to speak up some ideas and let everyone chew on them. Whether Iām right or wrong.
Hi mapman,
I like your point of view on trading, to my way of thinking being independent is the only way you will get comfortable with your trades. I am interested to know how long you have been trading, and when you became consistently profitable, I ask because I am 1 step forward 2 back at the moment, so trying to form some expectation.
Good good good ppl i can see positivity back in place 
keep it like this 
have a good weekend!
LOOK at the pixels!! Its[B] PHOTOSHOPPED!!![/B]
Hi Steve, Iāve been managing my own money (investing in funds/etfās/stocks & shares etc) for about 12 years now and actively trading (using leverage) for about 3 so Iām not sure I can add anything based on any great experience. However, for what its worth I read someone (maybe Alexander Elder but cant be sure) saying that more or less, trading is a 3 year endeavour for a beginner; the first year you lose, the second you break even and the third you make small profit. I suspect there is a great deal of variation around this rule of thumb based on many factors but it sort of has a ring to it in my experience also.
Thanks mapman,
So far right on track then yr1 lose. LoL.
Stupid question:
Say MS is BULLISH
Then there is a consolidation for two weeks.
Is MS now classified as a consolidation? Or is it still Bullish until it becomes Bearish?
X:X
Hey Jonnycab,
I too I am not in no rush to hit that mil. in Forex, though 16 years is quite long, maybe 10 years for me but if I get sooner than that itās fine by me :)ā¦ Forex is only part of it. ā¦ So, donāt just stick on Forex. There are other investment vehicle outside of trading such as stocks, bonds, real state, any retirement plan from work, etc.
[B]
Build Wealth With Time on Your Sideā¦[/B]
You are doing goodā¦Keep it Up!
Sorry Satunya, missed your post.
Itās an older system, refreshed about 5-6 yrs ago by the current promoter, the basics remained, the ma changed from 50 to 60.
Itās based on pure price action, so itās good in the right hands.
Gain your bias with higher tf charts, this case the 4hr and 1 hr, with the ma to guide your bias, then drop down to 5 min for entry.
Example: price below 60 on both htf charts, is also below on 5 min, you wait for pull back, then wait for break of last swing low - i.e. price has now broken ms to the downside, that flow being in agreement with the 2 htfās.
Enter on the break of the last swing low, sl and tp up to you.
Itās not unlike what we do quite often on this thread, the main difference being that when a ms break happens on a 15 min we often would wait for the pullback to hit 62 -79% of the swing down and then short with 1st tp at the point where this system is getting you in.
(this is a simple overview - you need to add your own common sense rules, it has worked for many ppl)
Itās free although there is ( well used to be anyhow) a paid course attached to the promoterās web site.
Itās name? - it is on this site under systems, think of water and the little birds that many people eat for their dinner, the same little birds that I take my grandson to feed breadcrumbs to.
Daffy System
I just got back from extended hospitalization after 2 months and boy, this forum has changed A LOT!!!
Just let me be clear: I am not on my way to millions and definitely canāt claim success in applying all that has been taught in this thread (and others). I am still finding my way around.
I took notes as I read through all the criticism and I just want to share these notes:
- What are the [B]objectives of the fellow traders[/B] here? I donāt know, but my objectives are:
[ul]
[li]to learn what I can
[/li][li]to share what I can
[/li][li]to apply what I can
[/li][li]make what money I can
[/li][/ul]
What have I achieved?
[ul]
[li]I learned a lot from ICT (checked).
[/li][li]I have yet to share.
[/li][li]I applied with mixed results (mostly due to my own fault, wrong bias, chasing after price, not following plan). (1/2 checked)
[/li][li]My account has more positive trades since I started with the methods taught here. (1/2 checked)
[/li][li]I can better analyze why some of my trades went bad.
[/li][/ul]
-
What has ICT taught me that I find useful?
[ul]
[li]Trade management (not over trading, let profit run, cut losses)
[/li][li]Emotion management (baby steps, patience, bouncing back)
[/li][li]Killzones (price opens up a range during those specific time frames and these are opportunities)
[/li][li]Market structure
[/li][li]Market flow
[/li][li]Optimal Trade Entry
[/li][li]S/R
[/li][li]Key levels
[/li][li]COT (using this little bit here and there)
[/li][/ul] -
Do I appreciate ICTās contribution? YES.!!! Why? Because:
[ul]
[li]I have read books and attended courses. Most of the above tools were touched on. But there was not enough depth.
[/li][li]I followed ICTās thread for close to a year now. Many concepts come to light slowly. Fault of my previous teacher(s) and those books I read? No. Maybe I am just a slow learner, maybe there was just not enough time, maybe there was just not enough follow ups after the courses and readings. But here in BP, ICTās effort took care of the slow learner, time and follow up problems.
[/li][/ul] -
Are all the tools mentioned ICT proprietary? Definitely NO. ICT has mentioned this more than once in his videos: āI did not create all these tools, they are out there, I am just presenting how I use them in the hope that you can find them usefulā (or something similar).
In fact, the only thing that ICT ācreatedā, as far as I can remember, is probably 70.5% OTE.
-
So is he making money or is he is lying about his achievements? I donāt know and frankly I donāt care because:
[ul]
[li]I am competing against myself in this game, not against him and not against any of the fellow traders.
[/li][li]I get to keep the money I make. And thatās what I want. Not that I want him to manage my money.
[/li][li]What he teaches makes sense to me, especially about baby steps.
[/li][li]What he teaches is helping me develop my own trading style - OTE, KZ, MS, MF.
[/li][li]
[/li][/ul] -
Do I think he is a hypocrite when he says āif you want to give me money, please give it to the charityā (I think it was American Cancer Society?). Definitely NO NO NO NO NO!
Just 2 wishes to close this long post:
[ol]
[li]I hope all those who are here to learn, apply and share continue to do so. Please do your best for I think this is the best way to keep this thread and its spirit alive.
[/li][li]I hope to see no personal attacks. Yes you have the right to make criticize. But please respect the rights of those who just wants to learn and share.
[/li][/ol]
Hi guys, is it just me, or does it look like the correlation beetween cable and fiber have been closer and closer the last week, until beeing pretty close today?
And I just want to say 1 thing I have had in the back of my mind this year, when I started my live account.
After my chase for the holy grail, coding EAās to make me money, I found this: If I Opened a trade with 50pip SL and 50pip TP (no matter how big the stops where) I always ended up with a win ratio on 50%(almost what ever sma cross I tried, or RSI over sold or whatever), so What I figured, is that whatever trade I enter, I have a 50% win chance - the spread(pretty much the same odds as the vegas casinos). But the second I add HTF trends(MS) and KSR levels the win chance creeps in my direction. And ofcourse implied SR lines from the HTFā¦
Just saing, and I bet all of you guys know this already, just saying in case there are any newbies out thereā¦
I have noticed the stronger correlation as well, especially today. I still donāt trust it, and probably will not for another week, but it has taught me a good lesson- that is to complete a thorough top down analysis on the USDX
I said earlyer this week that I would up the risk to 2% the next week, but since my favorite tool has been divergence beetween Cable/Fiber/USDX I think I will wait 1 more week to see that the correlation is āconfirmedā
Yep, well spotted, I noticed this today as well. I closed out the last portion of my trade just after NYO. Cable had higher lows, Fiber lower lows, USDX, higher highs. Normally I would have ignored this (as Cable always seems to be in a lower low state these days :D), but it did jump out at me, just before we did push higher on the Fiber
I made this post last night with a degree of tongue-in-cheek, but it is also a little lesson to myself - I see this PA many times -will refuse to push over the fig, almost as if there is an invisible force stopping price crossing the line - it works both ways - resistance and support - price was at 3358 at time of post.
Why did I figure 3310 and a bounce? - the answer lies in the ref to the mmās (smart money).
They took price up against the flow to 3395 (38 fib) sorry longs that had your tp at 3400 - you know ācannot go any lower - has to bounce from here etcā - now down we go ā aha pile in you shorts - missed the short? no problem come on in at 3340 -all is well and you are with the trend, we welcome all chasers, set your tp at the fig - or less - this thing is going down with momentum.
Brakes - at 3310 - darn them mmās, theyāre clever - wow - now I see a dbl bottom - I knew I was right all along, see, it didānt even make it to the fig, no legs, Iāll go long, see the 15 min candles pushing higher, Iām going to miss it, quick long at 3340 - sl at 30 pips, will never go back there now.
But me, Iām really smart, I want a little scalp, 30 pips will do nicely thank you.
Iām watching price (Iām a price action guy after all) at just pre nyo - I see price reluctant to push past 3334, since Iām really smart, and cooll, there is no way I will go long, ICT has taught me to think in the HTF which is short.
Short at 3329 - now I have it, tp at the fig - hey this is easy money - wow one candle and itās +18 pips already, think Iāll just remove this TP limit, this thing is going down big time.
Darn them smart money - didānt reach my tp, darn that ICT and his institutional levels, darn those turtles and their false break below 3310 - soup or something.
This must be why us newbies lose so much - darn this thing called discretionary trading, darn this fx thing - itās all random.
ICT - how come Iāve lost big time? I really traded like a pro - what happened? - yeah itās all your fault, lets ban you, scrub you, delete you, letās start a new thread, hmm, lets see, what to do?
Whatās that sound I hear ā¦ laughing ā¦ calling me names ā¦ dumb money ā¦ ehh ā¦ bonuses ā¦ emails ā¦ fixing ā¦ nahh - must be imagining.
Use the eur/gbp as a guage, the cause of the break was here, the fix is also here.
When this cross was rising, prob cause fx repatriation from uk to eu, it skewed gbp.
On daily flick from fibre to eur/gbp and look at the recent pa - many analysts were saying 90.00 for the cross but I have my doubts, I suspect correlation from next week.
Do the tools work for me? YES!
Will i trade these tools when ICTās gone? YES
You can guys say what you want but without ICT i wouldnt understand the markets the way i do now!